Location: York-Kittery-South Berwick, ME | Metro: York-Kittery-South Berwick, ME HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,780 |
| 2 Bedrooms | $2,270 |
| 3 Bedrooms | $2,820 |
| 4 Bedrooms | $3,330 |
| 5 Bedrooms | $3,863 |
| 6 Bedrooms | $4,327 |
| 7 Bedrooms | $4,673 |
| 8 Bedrooms | $4,907 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,270 | $591,841 | 0.38% | F |
| 3BR | $2,820 | $795,905 | 0.35% | F |
| 4BR | $3,330 | $1,359,862 | 0.24% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 03902, York, ME, stands at $133,676. Given the market rate for rent at $1,708 (according to Census ACS), a household here can indeed afford the rent. However, it's important to consider the financial implications for both renters and landlords.
Affordability is not just about whether a household can pay the rent but also about the proportion of their income dedicated to housing. At $1,708 per month, the annual rent would be approximately $20,500. This represents around 15.3% of the median household income, which is within the generally accepted range where rent is considered affordable—typically less than 30% of income.
Comparatively, the Fair Market Rent (FMR) for ZIP 03902 as of fiscal year 2024 is set at $1,810. This means that the Section 8 voucher payment is slightly higher than the current market rate, making it an attractive option for landlords who might prefer the stability of government-backed payments over relying solely on cash-paying tenants.
With 24.2% of the 2,665 population being renters, there is a notable segment of the community looking for housing. The affordability gap, however, suggests that while most households can afford the market rate, some may still seek assistance through programs like Section 8 to manage their housing costs effectively.
For landlords considering their strategy between voucher and cash-pay tenants, the key takeaway is that accepting Section 8 vouchers could provide a steady stream of rental income without the risk of non-payment. Additionally, the voucher payment exceeding the market rate could offer a slight premium. However, landlords should also weigh the administrative requirements and potential delays associated with voucher processing against the benefits of having consistent, reliable tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
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.