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 | $1,560 |
| 1 Bedroom | $1,730 |
| 2 Bedrooms | $2,070 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,200 |
| 5 Bedrooms | $3,712 |
| 6 Bedrooms | $4,157 |
| 7 Bedrooms | $4,490 |
| 8 Bedrooms | $4,715 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,730 | $315,356 | 0.55% | F |
| 2BR | $2,070 | $404,673 | 0.51% | F |
| 3BR | $2,850 | $551,875 | 0.52% | F |
| 4BR | $3,200 | $665,629 | 0.48% | F |
| 5BR | $3,712 | $757,370 | 0.49% | F |
U.S. Census Bureau data (2024)
The dynamics of the Saco, ME (ZIP 04072) rental market reveal a scenario where demand closely mirrors supply, but leans slightly towards favoring landlords. The Fair Market Rent (FMR) for the area stands at $1,680 for the fiscal year 2024, indicating a benchmark set by HUD that reflects the local rental affordability. Meanwhile, the Zillow Observed Rent Index (ZORI) sits at $2,210, suggesting that the actual market rents are higher than the FMR, which is a positive sign for landlords looking to maximize their income.
A key indicator of market health is the price-cut share, which in Saco is only 0.1%. This low figure implies that few properties are being discounted, a strong signal that the market is robust and tenants are willing to pay the listed rates without significant negotiation. The Days on Market (DOM) statistic of 16 days further supports this, showing that properties are moving quickly once they are listed, another indication of a healthy demand.
The median home value in Saco is $520,339, reflecting a relatively stable housing market. However, it's important to note that this does not directly impact the rental market, though it can influence the number of homes available for rent if homeownership becomes more affordable.
The renter share of 27.2% provides insight into the long-term housing pressures. A higher percentage of renters often correlates with greater long-term demand for rental properties, as it suggests a segment of the population that prefers or requires renting over buying. This can be due to various factors including affordability, lifestyle choices, or transient populations. In Saco, the relatively high renter share indicates that there will likely be sustained interest in rental properties, which is beneficial for landlords and small-portfolio investors.
In summary, the current snapshot of Saco's rental market points to a balance between supply and demand, with slight advantages for landlords. Quick property turnover and minimal need for price reductions suggest a healthy rental environment, while the substantial renter share points to ongoing demand pressures that benefit the rental sector.
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.