Somerset County/Palmyra/04965

04965

ZIPSAFMR

Somerset County, ME

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ZIP Investment Score

70Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,210	$1,220	14.1%
1 BR	$1,220	$1,270	13.0%
2 BR	$1,460	$1,370	12.5%
3 BR	$1,970	$1,410	15.8%
4 BR	$2,030	$1,470	11.5%
5 BR	$2,335	Not available	11.5%
6 BR	$2,685	Not available	11.5%
7 BR	$3,087	Not available	11.5%
8 BR	$3,550	Not available	11.5%

Purchase Price Calculator

Maximum purchase price

$141,665

Cost breakdown

+Likely effective rent$1,370

HUD FMR$1,460

Market rentUsed$1,370

Est. payment standard (96%)$1,400

-Principal and interest-$716

Loan amount$113,332

Down payment$28,333

Rate6.50%

Term30 years

-Operating costs-$454

Property taxes-$142

Insurance-$175

Utilities$0

HOA$0

Management-$137

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$22,153(78.2% ROI)

Projected value

$152,558

Return breakdown

Property appreciation+$10,893

Loan principal paid down+$4,060

Rental cash flow+$7,200

5-year hold

+$37,857(133.6% ROI)

Projected value

$160,281

Return breakdown

Property appreciation+$18,616

Loan principal paid down+$7,241

Rental cash flow+$12,000

10-year hold

+$80,932(285.6% ROI)

Projected value

$181,343

Return breakdown

Property appreciation+$39,678

Loan principal paid down+$17,254

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.98ratio

FMR$1,210

Market$1,230

vs market-$20

FMR is near market; voucher and private rents are aligned.

0.98

1 BR

0.94ratio

FMR$1,220

Market$1,300

vs market-$80

FMR is near market; voucher and private rents are aligned.

0.94

2 BR

1.07ratio

FMR$1,460

Market$1,370

vs market+$90

FMR is near market; voucher and private rents are aligned.

1.07

3 BR

1.40ratio

FMR$1,970

Market$1,410

vs market+$560

FMR is above market; underwrite to market rent.

1.40

4 BR

1.38ratio

FMR$2,030

Market$1,470

vs market+$560

FMR is above market; underwrite to market rent.

1.38

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 04965 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 04965 (Palmyra, ME) is $1,460 a month. That is down 2.7% from $1,500 in FY 2026. Palmyra 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, 04965 is tied for the 6th-highest two-bedroom rent (county range $1,140–$1,860). The median county two-bedroom FMR in Maine is $1,371, so ZIP 04965 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 04965
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,200	$1,210	+0.8%	$1,089–$1,331
1BR	$1,280	$1,220	−4.7%	$1,098–$1,342
2BR	$1,500	$1,460	−2.7%	$1,314–$1,606
3BR	$2,000	$1,970	−1.5%	$1,773–$2,167
4BR	$2,150	$2,030	−5.6%	$1,827–$2,233

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 04965
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,210	$1,220	$1,460	$1,970	$2,030
FY 2026	$1,200	$1,280	$1,500	$2,000	$2,150
FY 2025	$1,010	$1,090	$1,260	$1,620	$1,810
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 code	2 bedroom	vs. 04965
04954	$1,240	−15.1%
04955	$1,370	−6.2%
04957	$1,460	0.0%
04958	$1,230	−15.8%
04961	$1,490	+2.1%
04963	$1,280	−12.3%
04965Current	$1,460	—
04967	$1,360	−6.8%
04971	$1,310	−10.3%
04975	$1,250	−14.4%
04976	$1,180	−19.2%
04978	$1,270	−13.0%

Questions about ZIP 04965 rents

How much will Section 8 pay for a two-bedroom in ZIP 04965?

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 $1,460 it would be $1,314 to $1,606. 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 04965 in?

ZIP 04965 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 04965 for FY 2027?

The two-bedroom FMR fell 2.7%, from $1,500 in FY 2026 to $1,460 in FY 2027. Since FY 2025 it has risen 15.9%.

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 rent Palmyra, ME fair market rent ME statewide rents What is SAFMR?Data sources