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 | $1,580 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,980 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $3,310 |
| 5 Bedrooms | $3,840 |
| 6 Bedrooms | $4,301 |
| 7 Bedrooms | $4,645 |
| 8 Bedrooms | $4,877 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,470 | $435,200 | 0.57% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP code 04029, Maine, include significant tenant turnover. The market rent of $1,533 stands notably higher than the Fair Market Rent (FMR) of $1,360 for FY 2024, which can lead to frequent changes in occupancy. High turnover rates can strain resources and time, especially for small-portfolio investors who might find it challenging to manage the constant need for new tenants.
Vacancy exposure is another concern, as the Days on Market (DOM) data is currently unavailable. This makes it difficult to predict how long a property might remain vacant between tenants, increasing financial uncertainty for landlords. Additionally, the deferred maintenance costs can be substantial. With a typical home value of $403,952 and a median income of $77,813, residents might struggle to afford necessary repairs and upgrades, leading to potential wear and tear that landlords must address.
However, these risks are offset by a robust renter base. ZIP 04029 has an 11.0% renter share, indicating a high concentration of renters who are likely to have a strong demand for housing vouchers. A larger pool of potential tenants can mitigate some of the risks associated with vacancy and turnover, ensuring a steady stream of applications for Section 8 properties.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.