Location: Cumberland County, ME | Metro: Cumberland 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 | $1,630 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $3,360 |
| 5 Bedrooms | $3,898 |
| 6 Bedrooms | $4,366 |
| 7 Bedrooms | $4,715 |
| 8 Bedrooms | $4,951 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,630 | $924,673 | 0.28% | F |
U.S. Census Bureau data (2024)
1680 is the Fair Market Rent (FMR) for ZIP code 04003 as of fiscal year 2024, indicating the maximum amount a Section 8 tenant can be expected to pay for housing. Despite the N/A mark for market rent, which suggests limited data availability or a unique rental environment, the median home value stands at $819,683, reflecting a substantial investment base in the area. With 11.1% of residents being renters, it's clear that while the rental market is present, it is not dominant, potentially making it less competitive for landlords. The median income of $96,250 provides insight into the economic stability of the area, suggesting that tenants may have the means to cover higher rents. However, the absence of data on days on market (DOM) and the percentage of price-cut shares indicates a lack of recent sales activity or a specialized real estate market that doesn't follow typical trends. This could mean that properties in ZIP 04003 retain their value well, but it also implies a slower turnover rate for investments. For landlords and small-portfolio investors considering Section 8 participation, the FMR of $1680 offers a benchmark for rental pricing, ensuring that properties remain affordable for eligible tenants while providing a predictable income stream. Given the high median home value and stable median income, properties in this ZIP code are likely to attract both Section 8 tenants and non-Section 8 renters, creating a balanced market opportunity. The verdict on Section 8 participation in ZIP 04003 is positive, provided that landlords understand and comply with the program requirements.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.