Location: Cumberland 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 | $1,430 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,540 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,630 | $385,674 | 0.42% | F |
| 2BR | $2,060 | $445,208 | 0.46% | F |
| 3BR | $2,540 | $534,017 | 0.48% | F |
| 4BR | $2,740 | $692,578 | 0.4% | F |
U.S. Census Bureau data (2024)
The ZIP code 04071 in Raymond, ME, encompasses a primarily residential neighborhood with a total population of 4,971. Only 9.4% of residents are renters, indicating a community predominantly composed of homeowners. The median household income stands at $88,722, which is relatively high, suggesting a middle to upper-middle-class demographic. The median home value in this area is $504,915, reflecting the affluent nature of the housing market.
From an investment perspective, the rental economics present a stark contrast to the overall wealth of the area. According to the Census Bureau's American Community Survey, the average market rent for the area is $965 per month. However, the Fair Market Rent (FMR) for ZIP 04071, set by the U.S. Department of Housing and Urban Development (HUD) for fiscal year 2024, is significantly higher at $1,820 per month. This discrepancy highlights the potential financial benefit for landlords who can secure Section 8 tenants, as they would receive a subsidy that brings the rent up to the HUD-set FMR.
Given these conditions, ZIP 04071 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area’s relatively low percentage of renters and high FMR indicate that there is a manageable number of properties to oversee while still receiving a substantial subsidy. On the other hand, value-add buyers can leverage the high median income and home values to improve property quality and increase rents, potentially attracting non-voucher tenants willing to pay closer to the FMR.
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.