Location: Sagadahoc County, ME | Metro: Sagadahoc County, 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 | $1,280 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,410 |
| 4 Bedrooms | $2,840 |
| 5 Bedrooms | $3,294 |
| 6 Bedrooms | $3,689 |
| 7 Bedrooms | $3,984 |
| 8 Bedrooms | $4,183 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,740 | $346,794 | 0.5% | F |
| 3BR | $2,410 | $408,902 | 0.59% | F |
| 4BR | $2,840 | $483,289 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 04008, located in Bowdoinham, ME, stands out within Sagadahoc County due to its unique demographic and economic characteristics. With a population of 3,142 residents, only 6.2% of whom are renters, the area has a strong homeownership culture. The median income of $108,479 is relatively high, indicating a prosperous community. Additionally, the median home value of $384,191 suggests that the housing market is robust and valued.
Despite the low rental rate, the Section 8 program plays a significant role in the local rental market. For fiscal year 2024, the Fair Market Rent (FMR) for ZIP 04008 is set at $1400 per month. This figure is crucial for landlords and small-portfolio investors as it represents the maximum amount that the federal government will subsidize for a rental unit under the Section 8 Housing Choice Voucher program. Given that the market rent data is currently unavailable, the FMR serves as a benchmark for rental pricing in subsidized housing.
The data signature for ZIP 04008 reads as stable. The high median income and median home value indicate a consistent economic environment where property values are unlikely to fluctuate dramatically. Furthermore, the low percentage of renters suggests that the demand for rental units, including those supported by Section 8 vouchers, is steady rather than volatile. Landlords can expect reliable tenants and predictable financial returns when participating in the Section 8 program in this ZIP code.
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.