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Somerset County/Detroit/04929

04929

ZIPSAFMR
Somerset County, ME
Zillow

ZIP Investment Score

72Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$1,190
1 BR$1,090$1,200
2 BR$1,300$1,360
3 BR$1,750$1,390
4 BR$1,810$1,420
5 BR$2,082Not available
6 BR$2,394Not available
7 BR$2,753Not available
8 BR$3,166Not available

Purchase Price Calculator

Maximum purchase price
$140,179

Cost breakdown

+Likely effective rent$1,360
HUD FMR$1,300
Market rent$1,390
Est. payment standard (105%)Used$1,360
-Principal and interest-$709
Loan amount$112,143
Down payment$28,036
Rate6.50%
Term30 years
-Operating costs-$451
Property taxes-$140
Insurance-$175
Utilities$0
HOA$0
Management-$136
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,996(78.5% ROI)
Projected value
$150,957
Return breakdown
Property appreciation+$10,778
Loan principal paid down+$4,018
Rental cash flow+$7,200
5-year hold
+$37,586(134.1% ROI)
Projected value
$158,600
Return breakdown
Property appreciation+$18,421
Loan principal paid down+$7,165
Rental cash flow+$12,000
10-year hold
+$80,334(286.5% ROI)
Projected value
$179,441
Return breakdown
Property appreciation+$39,262
Loan principal paid down+$17,073
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.84
1 BR
0.83
2 BR
0.94
3 BR
1.26
4 BR
1.27
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 04929 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04929 (Detroit, ME) is $1,300 a month. That is up 1.6% from $1,280 in FY 2026. Detroit is in the Somerset County, ME non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,242. Among 30 ZIP codes in Somerset County, 04929 has the 12th-highest two-bedroom rent (county range $1,140–$1,860). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04929 is 5% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04929
BedroomsFY 2027Change90–110% range
Studio$1,080+4.9%$972–$1,188
1BR$1,090−0.9%$981–$1,199
2BR$1,300+1.6%$1,170–$1,430
3BR$1,750+2.3%$1,575–$1,925
4BR$1,810−1.1%$1,629–$1,991

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04929
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,090$1,300$1,750$1,810
FY 2026$1,030$1,100$1,280$1,710$1,830
FY 2025$860$930$1,080$1,380$1,550
FY 2024area FMR$815$846$1,026$1,269$1,465
FY 2023area FMR$717$721$920$1,140$1,288

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Somerset County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 04929
04920$1,140−12.3%
04923$1,240−4.6%
04924$1,630+25.4%
04925$1,240−4.6%
04927$1,490+14.6%
04929Current$1,300—
04930$1,520+16.9%
04937$1,280−1.5%
04942$1,280−1.5%
04943$1,140−12.3%
04944$1,260−3.1%
04945$1,860+43.1%

Questions about ZIP 04929 rents

How much will Section 8 pay for a two-bedroom in ZIP 04929?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,242, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,118 to $1,366 a month; under the ZIP-level Small Area FMR of $1,300 it would be $1,170 to $1,430. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 04929 in?

ZIP 04929 is in the Somerset County, ME non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,242.

How much did fair market rent change in ZIP 04929 for FY 2027?

The two-bedroom FMR rose 1.6%, from $1,280 in FY 2026 to $1,300 in FY 2027. Since FY 2025 it has risen 20.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentDetroit, ME fair market rentME statewide rentsWhat is SAFMR?Data sources