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 | $1,960 |
| 1 Bedroom | $2,160 |
| 2 Bedrooms | $2,820 |
| 3 Bedrooms | $3,360 |
| 4 Bedrooms | $4,020 |
| 5 Bedrooms | $4,663 |
| 6 Bedrooms | $5,223 |
| 7 Bedrooms | $5,641 |
| 8 Bedrooms | $5,923 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,820 | $493,980 | 0.57% | F |
| 3BR | $3,360 | $626,813 | 0.54% | F |
| 4BR | $4,020 | $743,392 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 03903, located in Eliot, ME, presents an interesting scenario when analyzed from the perspective of renters. The median household income in this area is $101,522, which is notably higher than the national average. However, this financial standing does not necessarily translate into ease of finding affordable housing.
The market rate for rent in ZIP 03903 is $1,948 per month, according to the latest Census ACS data. This figure represents a significant portion of the median income, indicating that while some households might find it manageable, others could struggle to cover such expenses without compromising other necessities.
Comparatively, the Housing Choice Voucher Program, commonly known as Section 8, offers a payment standard of $1,550 for the fiscal year 2024. This amount is significantly lower than the market rate, making it less appealing for landlords who might be able to secure higher rents from non-voucher tenants. However, the affordability gap between the market rate and the voucher payment standard highlights the challenge many renters face in finding housing that fits their budget.
In ZIP 03903, 20.2% of the 7,146 residents are renters. This means there are approximately 1,445 renters in the area. Given the disparity between the market rent and the voucher payment, landlords could face stiff competition for cash-paying tenants who are willing and able to meet the higher market rates. On the other hand, the number of renters eligible for vouchers might be limited due to the high median income, suggesting that landlords might not have a large pool of voucher recipients to draw from.
The takeaway for landlords considering whether to accept vouchers or focus on cash-paying tenants is clear. While the voucher payment standard is lower at $1,550, the high median income and competitive market rate of $1,948 suggest a stronger potential for securing higher rental incomes from cash-paying tenants. However, landlords should also consider the stability and security that comes with voucher payments, which can guarantee timely rent collection despite the lower rates. Balancing these factors will be crucial in developing a successful rental strategy in ZIP 03903.
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.