Location: York County, 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 | $1,420 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,580 | $421,683 | 0.61% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 04048 presents a dynamic equilibrium between supply and demand, leaning slightly towards demand pressure given the current figures. The Fair Market Rent (FMR) for the area is set at $1,680 for fiscal year 2024, while the actual market rent, according to Census ACS data, stands at $1,758. This indicates that the market is slightly above the fair market rate, suggesting that rental properties are in higher demand than supply.
The median home value of $401,831 provides insight into the overall housing market value but does not directly correlate with rental dynamics. However, it can be inferred that homeownership is relatively expensive, which might contribute to the high renter share of 10.2%. This percentage reflects a significant portion of the population choosing to rent rather than buy, indicating sustained long-term housing pressure on the rental market. Landlords and small-portfolio investors should recognize this as a signal of continued demand for rental properties.
While the specific percentages for price-cut share and days on market (DOM) are not available, the slight premium over FMR and the substantial renter share suggest that landlords can maintain their rents at current levels without significant concessions. The market appears to be resilient, with renters willing to pay a bit more to secure housing, making it a favorable environment for those managing rental properties.
In summary, ZIP 04048 is a market where demand pressures are evident, particularly in the rental sector. The high renter share and premiums over FMR indicate strong interest in renting, which supports the sustainability of current rental prices. For landlords and investors, this suggests an ongoing opportunity to manage and profit from rental properties without the need for frequent adjustments to pricing strategies.
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.