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 | $1,330 |
| 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 | $430,690 | 0.54% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 04049 in fiscal year 2024 is set at $1760. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is the payment standard set by the U.S. Department of Housing and Urban Development (HUD), not the actual rent that tenants will pay. The tenant will still be responsible for paying a portion of the rent, typically around 30% of their income.
To put this into perspective, the average monthly rent for all rental units in ZIP 04049, based on Census American Community Survey (ACS) data, is $1,185. This means that the FMR for Section 8 is significantly higher than the typical market rate, potentially offering a more stable and predictable income source for landlords.
With a renter share of 9.0%, there is a moderate demand for rental properties in this ZIP code. However, the Section 8 program can help fill vacancies and provide steady rental income even when the overall rental market is not as robust.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 04049 is approximately $407,281. This figure represents the acquisition cost for a typical home in this area. Given the higher FMR for Section 8, it could make financial sense to invest in a property for this purpose, especially if you're looking for a long-term, low-risk investment.
Before you proceed with your first Section 8 rental in ZIP 04049, verify that your property meets HUD's housing quality standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary for tenants. Meeting these requirements is crucial for maintaining eligibility in the program and avoiding potential penalties or eviction issues.
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.