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 | $2,070 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,280 | $359,249 | 0.36% | F |
| 2BR | $1,550 | $418,713 | 0.37% | F |
| 3BR | $2,070 | $492,276 | 0.42% | F |
| 4BR | $2,310 | $569,272 | 0.41% | F |
U.S. Census Bureau data (2024)
1300 is the Fair Market Rent (FMR) for ZIP 04002, Lyman, ME, set for fiscal year 2024. This figure represents the maximum amount a landlord can charge for a unit to be eligible under the Section 8 program. In comparison, the Census ACS reports a market rent of 1045, indicating that the subsidized rate is above the local average, which could be beneficial for landlords looking to cover their costs and potentially make a profit. The median home value in the area stands at 466462, suggesting a relatively affluent community where homeownership is valued highly. However, only 10.1% of the population are renters, which might limit the pool of potential Section 8 tenants. Despite this, the median income of 84537 is sufficient to support a diverse range of housing needs, including those assisted by Section 8 vouchers. Data on the average days on market (DOM) and the percentage of homes that have had their prices cut are not available, which means there's no direct insight into the local real estate market's liquidity or competition. Given these factors, the decision to participate in the Section 8 program should be carefully considered. Landlords in Lyman, ME, will benefit from higher rental rates compared to the local market, but they must also be prepared for a smaller tenant pool and the administrative requirements of the program. The verdict on Section 8 participation for this ZIP code is positive, especially for those who can navigate the nuances of the local real estate landscape.
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.