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 | $1,430 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,600 |
| 4 Bedrooms | $2,930 |
| 5 Bedrooms | $3,399 |
| 6 Bedrooms | $3,807 |
| 7 Bedrooms | $4,112 |
| 8 Bedrooms | $4,318 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,600 | $464,133 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 04027 in Maine has a population of 6,629 residents, with only 3.2% identified as renters. This indicates that the area is primarily dominated by homeowners rather than renters. The median household income stands at $97,750, which is notably higher than the federal poverty level. However, there is no specific data provided regarding the market rent for this area, making it challenging to directly compare with the Fair Market Rent (FMR).
The FMR for ZIP 04027 in fiscal year 2024 is set at $1,680. Given the median income figure, we can infer that the cost of housing, even if it aligns with the FMR, would consume a relatively low percentage of the average household's income. For instance, a household earning $97,750 annually would spend approximately 20.5% of their gross income on rent at the FMR rate, assuming no other income sources or deductions.
In the context of Section 8 tenants, who typically have incomes below 50% of the area median income, the scarcity of rental properties and the lower proportion of renters in ZIP 04027 suggest that the demand for Section 8 vouchers might be limited. Landlords in this area should not anticipate a large influx of potential Section 8 tenants due to the homeowner-dominated nature of the community.
A landlord in ZIP 04027 should expect tenants with moderate to high financial stability, given the robust median income. These tenants are likely to have a steady source of income, possibly from employment in industries such as healthcare, education, or government services, which are common in areas with higher median incomes. They may also value quiet, residential communities and seek long-term living arrangements.
While the lack of direct market rent data limits a comprehensive analysis, the overall picture suggests that landlords in ZIP 04027 will find themselves in an environment where the demand for rental properties is less intense, and the presence of Section 8 tenants is unlikely to be significant. Instead, they should focus on attracting financially secure individuals who appreciate the local lifestyle and are willing to pay market rates that reflect the area's income levels.
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.