Section 8 Fair Market Rent (FMR) for ZIP 03859 - 2027

FY 2027 Fair Market Rent Rates

ZIP code 03859, located in Maine, is part of a rural community that offers a tranquil living environment, ideal for those seeking a quieter lifestyle away from urban centers. The area's housing market reflects its unique character, with specific metrics providing insight into the rental and homeownership landscape.

• The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 03859 for fiscal year 2024 is set at $1900.
• Market rent data is currently unavailable for ZIP 03859, indicating a lack of recent activity or reporting in the rental sector.
• The median home value is also not available, suggesting limited sales data which could be due to the low volume of transactions typical in rural areas.
• Renter share data is not available, making it difficult to assess the proportion of residents who prefer renting over owning.
• The days on market (DOM) for listings is not available, which typically would indicate how quickly properties are selling or if there is a lag in the market.
• Median household income data is not available, leaving a gap in understanding the financial health and spending power of the local population.

Given the available data, investors should focus on the Fair Market Rent figure of $1900 for a two-bedroom unit, which can serve as a benchmark for rental pricing. However, the absence of key metrics such as market rent, median home value, and median income introduces uncertainty into the investment decision-making process. This scarcity of detailed market information suggests that ZIP 03859 might be less active in terms of real estate transactions, potentially offering a niche opportunity for those willing to navigate the challenges of a sparsely documented market. Landlords and small-portfolio investors should conduct thorough due diligence, including direct market research and engaging with local real estate professionals, to fully understand the potential and risks associated with investing in this area.

Data Sources: FMR data from HUD (2027).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.