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 | $2,040 |
| 1 Bedroom | $2,060 |
| 2 Bedrooms | $2,560 |
| 3 Bedrooms | $3,200 |
| 4 Bedrooms | $4,280 |
| 5 Bedrooms | $4,965 |
| 6 Bedrooms | $5,561 |
| 7 Bedrooms | $6,006 |
| 8 Bedrooms | $6,306 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,560 | $382,031 | 0.67% | D |
| 3BR | $3,200 | $446,088 | 0.72% | D |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 04055, Naples, ME, reveals some interesting dynamics when comparing federally mandated Fair Market Rent (FMR) to actual market rents. For a two-bedroom property, the annualized FMR for FY 2024 stands at $1840, while the Census ACS reports an average market rent of $1,941 per month.
To calculate the gross yield for both scenarios, we start with the median home value of $425,758. The annualized FMR of $1840 translates into a monthly rent of approximately $153.33. This yields a gross rental income of $1,840 * 12 = $22,080 annually. Dividing this by the median home value gives us a gross yield of roughly 5.2%, calculated as $22,080 / $425,758 * 100.
In contrast, using the reported market rent of $1,941 per month results in an annual gross rental income of $23,292. This leads to a gross yield of approximately 5.5%, calculated as $23,292 / $425,758 * 100.
The difference between these gross yields is minimal, but it is important to consider the context of the Naples real estate market. With a renter density of only 12.5%, the likelihood of consistently achieving market rents through Section 8 is low. Additionally, the lack of data on days on market (DOM) suggests that there may be inefficiencies or delays in the rental process, further reducing the feasibility of reaching the higher market rent consistently.
Given these factors, the FMR scenario with a gross yield of 5.2% is more realistic for landlords and small-portfolio investors considering participation in the Section 8 program in Naples, ME.
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.