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Sussex County/Delmar/19940

19940

ZIPSAFMR
Sussex County, DE
Zillow

ZIP Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$960$1,060
1 BR$960$1,060
2 BR$1,260$1,390
3 BR$1,590$1,750
4 BR$1,960$2,160
5 BR$2,254Not available
6 BR$2,592Not available
7 BR$2,981Not available
8 BR$3,428Not available

Purchase Price Calculator

Maximum purchase price
$144,637

Cost breakdown

+Likely effective rent$1,390
HUD FMR$1,260
Market rent$1,660
Est. payment standard (110%)Used$1,390
-Principal and interest-$731
Loan amount$115,710
Down payment$28,927
Rate6.50%
Term30 years
-Operating costs-$459
Property taxes-$145
Insurance-$175
Utilities$0
HOA$0
Management-$139
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,467(77.7% ROI)
Projected value
$155,758
Return breakdown
Property appreciation+$11,121
Loan principal paid down+$4,146
Rental cash flow+$7,200
5-year hold
+$38,399(132.7% ROI)
Projected value
$163,643
Return breakdown
Property appreciation+$19,006
Loan principal paid down+$7,393
Rental cash flow+$12,000
10-year hold
+$82,126(283.9% ROI)
Projected value
$185,148
Return breakdown
Property appreciation+$40,511
Loan principal paid down+$17,615
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.64
1 BR
0.66
2 BR
0.76
3 BR
0.84
4 BR
0.85
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 19940 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 19940 (Delmar, DE) is $1,260 a month. That is unchanged from FY 2026. Delmar is in the Sussex County, DE 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 $1,498. Among 24 ZIP codes in Sussex County, 19940 is tied for the 21st-highest two-bedroom rent (county range $1,260–$2,210). The median county two-bedroom FMR in Delaware is $1,629, so ZIP 19940 is 23% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 19940
BedroomsFY 2027Change90–110% range
Studio$960+3.2%$864–$1,056
1BR$9600.0%$864–$1,056
2BR$1,2600.0%$1,134–$1,386
3BR$1,5900.0%$1,431–$1,749
4BR$1,960−1.0%$1,764–$2,156

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 19940
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$960$960$1,260$1,590$1,960
FY 2026$930$960$1,260$1,590$1,980
FY 2025$820$890$1,170$1,500$1,840
FY 2024$700$760$1,000$1,300$1,590
FY 2023$590$660$870$1,170$1,370

Two-bedroom rent in nearby Sussex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 19940
19930$1,700+34.9%
19931$1,2600.0%
19933$1,2600.0%
19939$1,550+23.0%
19940Current$1,260—
19941$1,520+20.6%
19944$1,590+26.2%
19945$1,480+17.5%
19947$1,540+22.2%
19950$1,580+25.4%
19951$1,640+30.2%
19952$1,520+20.6%

Questions about ZIP 19940 rents

How much will Section 8 pay for a two-bedroom in ZIP 19940?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,498, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,348 to $1,648 a month; under the ZIP-level Small Area FMR of $1,260 it would be $1,134 to $1,386. 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 19940 in?

ZIP 19940 is in the Sussex County, DE non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,498.

How much did fair market rent change in ZIP 19940 for FY 2027?

The two-bedroom FMR was unchanged at $1,260 in FY 2027. Since FY 2023 it has risen 44.8%.

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 rentDelmar, DE fair market rentDE statewide rentsWhat is SAFMR?Data sources