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 | $1,360 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,960 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,550 | $381,135 | 0.41% | F |
| 2BR | $1,960 | $409,991 | 0.48% | F |
| 3BR | $2,420 | $526,020 | 0.46% | F |
| 4BR | $2,580 | $629,255 | 0.41% | F |
| 5BR | $2,993 | $708,141 | 0.42% | F |
U.S. Census Bureau data (2024)
ZIP code 04062, located in Windham, ME, falls within the Portland, ME HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1,780, which is higher than the market rent figure of $1,232. This suggests that while the government's estimate of fair rent is higher, actual rents charged are lower, potentially indicating a good opportunity for landlords who can offer affordable housing options.
The median home value in ZIP 04062 is $482,859, which is comparable to the broader Portland area but slightly lower. Given the 15.4% renter share, it is clear that a significant portion of the population in Windham relies on rental housing. This combination of factors — a higher FMR, lower market rent, and substantial renter share — points to 04062 being a value pocket within the Portland metro area. Landlords and small-portfolio investors can leverage this by offering properties at or just above the market rent level, thus attracting tenants who might be eligible for Section 8 assistance without having to charge premium rents.
In contrast to typical Portland, ME HUD Metro FMR Area ZIP codes, where home values and rents tend to be higher, 04062 stands out as an area where properties can be acquired or rented out at more reasonable rates. The high renter share combined with below-average home values and market rents relative to the metro area suggests that this ZIP code could be particularly attractive for those looking to enter into or expand their Section 8 portfolio. It offers a balance between affordability and demand, making it a strategic location for investment.
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.