Location: Portland, ME | Metro: Portland, 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 | $1,330 |
| 1 Bedroom | $1,500 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,340 | $471,567 | 0.5% | F |
| 4BR | $2,540 | $526,423 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 04042, located in Maine, stands out due to several unique characteristics that define its real estate landscape. With a population of 4,872 residents, it has a relatively low rental rate at 12.4%, indicating that homeownership is more prevalent than renting. The median income in this ZIP is $95,950, which is above the national average, suggesting a financially stable community. Furthermore, the median home value of $436,492 reflects a robust housing market, where property values are significantly higher than the state and national averages.
When examining the voucher economics in ZIP 04042, the Federal Market Rent (FMR) for FY 2024 is set at $1,680, while the actual market rent, according to the Census American Community Survey, is $1,372. This discrepancy means that landlords who accept Section 8 vouchers can expect a higher rent payment compared to the current market rates, providing an incentive to participate in the program despite the administrative burdens.
The data signature for ZIP 04042 reads as "stable." The high median income and strong median home value indicate a consistent economic environment where residents are likely to have the financial capacity to maintain their homes. Additionally, the low rental rate suggests that the majority of residents are long-term homeowners, contributing to a settled and predictable local economy. For landlords and small-portfolio investors, this stability translates into a reliable investment climate, where the demand for housing is steady and the risk of vacancy is lower than in more transitional areas. The opportunity to receive higher rents through Section 8 vouchers adds another layer of financial predictability, making ZIP 04042 a favorable location for those interested in real estate investments tied to government assistance programs.
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.