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 | $1,690 |
| 1 Bedroom | $1,850 |
| 2 Bedrooms | $2,420 |
| 3 Bedrooms | $2,880 |
| 4 Bedrooms | $3,450 |
| 5 Bedrooms | $4,002 |
| 6 Bedrooms | $4,482 |
| 7 Bedrooms | $4,841 |
| 8 Bedrooms | $5,083 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,850 | $454,054 | 0.41% | F |
| 2BR | $2,420 | $562,251 | 0.43% | F |
| 3BR | $2,880 | $681,145 | 0.42% | F |
| 4BR | $3,450 | $767,248 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 03904 in Kittery, ME stands out within York County due to its unique demographic and economic characteristics. With a population of 8,389 residents, 36.4% of whom are renters, it presents a notable rental market presence. The median income in this area is $85,084, reflecting a relatively affluent community. However, the median home value of $637,564 indicates that homeownership is predominantly among higher-income households, which could suggest a barrier to entry for lower-income families seeking to buy homes.
For landlords and small-portfolio investors, the most critical aspect of ZIP 03904 is its voucher economics. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1,790, significantly below the market rent of $2,439, as measured by the Zillow Observed Rent Index (ZORI). This disparity means that Section 8 vouchers cover approximately 73% of the market rent, leaving landlords to absorb the remaining 27%. Despite this gap, the high median income suggests that non-voucher tenants might be willing to pay above the FMR, making the ZIP code attractive for those who can afford to participate in the voucher program.
The data signature for ZIP 03904 reads as stable. The median income is well above the national average, indicating financial stability among residents. Additionally, the median home value, while high, shows consistency over time, suggesting a mature market with established values. For investors, this stability provides a predictable environment for managing rental properties and assessing long-term investment potential.
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.