Location: York County, ME | Metro: York County, ME (part) 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 | $1,160 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,350 |
| 5 Bedrooms | $2,726 |
| 6 Bedrooms | $3,053 |
| 7 Bedrooms | $3,297 |
| 8 Bedrooms | $3,462 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,090 | $500,359 | 0.42% | F |
U.S. Census Bureau data (2024)
The median income for households in ZIP 04001 is $78,750. The Fair Market Rent (FMR) for the area, as set by the Housing Choice Voucher program for fiscal year 2024, is $1450 per month.
Given the limited data on the market rate, it is difficult to quantify the exact affordability gap for renters. Nonetheless, the low percentage of renters at only 3.9% suggests that homeownership is prevalent in this area, which could indicate a competitive rental market. With a population of 2,721, landlords might find that the pool of potential tenants is relatively small, making it essential to understand the financial capabilities of those seeking housing.
Landlords in ZIP 04001 should consider the following when deciding between voucher and cash-pay strategies:
The voucher payment standard of $1450 may be lower than what many landlords would prefer to receive. However, it ensures a steady stream of income as long as the tenant remains eligible for the program.
Cash-paying tenants might offer higher rents, but they also come with their own risks such as late payments or inability to pay altogether. The median income figure indicates that some households might be able to afford higher rents without assistance.
The competition among landlords could be fierce due to the low percentage of renters. This means that properties accepting vouchers might have an advantage in attracting tenants, especially if market rates exceed what the average household can comfortably pay.
The takeaway for landlords is that while accepting vouchers might mean lower rent amounts, it can provide a reliable source of income and access to a segment of the market that might otherwise be unable to afford housing. On the other hand, focusing on cash-paying tenants could yield higher monthly rents but requires careful consideration of the local economic conditions and the ability of prospective tenants to meet the financial demands of renting.
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.