Section 8 Fair Market Rent (FMR) for ZIP 04004 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 04004 in Portland, ME, stands out due to limited data availability, which includes an unspecified number of residents, an unknown percentage of renters, undefined median income, and no reported median home value. This lack of specificity can be attributed to various factors, including the size of the area or data collection challenges.

Moving to the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 04004 in fiscal year 2024 is set at $1680. This figure represents the maximum amount that landlords can charge for a rental unit covered under the Section 8 program. The absence of comparative market rent data means we cannot directly assess how this FMR stacks up against typical market rates, but it provides a benchmark for affordable housing in the area.

The voucher economics in ZIP 04004 suggest a clear path for landlords and small-portfolio investors interested in participating in the Section 8 program. With a defined FMR, landlords can calculate their potential income from units rented through the program. However, the lack of detailed local market data hinders a comprehensive analysis of the economic benefits versus risks.

Given the incomplete data signature, ZIP 04004 appears to be in a transitional state. The absence of key demographic and economic indicators suggests either recent changes in the area or ongoing developments that have yet to be fully captured in official statistics. Landlords and investors should proceed with caution, relying on the FMR for guidance while being aware of the broader context and potential for change.

Data Sources: FMR data from HUD (2027).

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.