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 | $1,500 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $3,160 |
| 5 Bedrooms | $3,666 |
| 6 Bedrooms | $4,106 |
| 7 Bedrooms | $4,434 |
| 8 Bedrooms | $4,656 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,890 | $638,388 | 0.3% | F |
| 3BR | $2,360 | $761,344 | 0.31% | F |
U.S. Census Bureau data (2024)
1480 is the Fair Market Rent (FMR) for ZIP code 04066 in Harpswell, ME, for fiscal year 2024, setting a benchmark for rental properties in the area. 1394 is the average market rent reported by the Census Bureau's American Community Survey, indicating that properties priced at the FMR will be competitive yet slightly above the local average. With a median home value of 708869, Harpswell offers significant equity potential for landlords who can acquire homes at or below this figure. 31.1% represents the share of renters in the community, suggesting a moderate demand for rental properties but also implying that a substantial portion of residents own their homes. The median income of 115547 provides insight into the financial capacity of potential tenants, though it's important to note that many may still require assistance through programs like Section 8. Data on days on market (DOM) and price-cut share is not available, which could indicate a stable real estate market where homes sell without extensive negotiation or prolonged listing periods. Given these figures, landlords and small-portfolio investors should consider the higher FMR as an opportunity to attract tenants willing to pay more for quality housing. However, the gap between FMR and market rent suggests that pricing must be carefully managed to remain attractive to tenants. The median home value and income figures point towards a robust investment environment, especially for those who can secure properties at favorable rates. In conclusion, Harpswell, ME, presents a balanced opportunity for Section 8 participation, with the potential for steady returns if properties are priced correctly and managed effectively. Verdict: Suitable for Section 8 participation with careful property selection.
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.