Location: York County, ME | Metro: York 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 | $1,260 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,690 | $402,942 | 0.42% | F |
| 3BR | $2,250 | $459,187 | 0.49% | F |
U.S. Census Bureau data (2024)
In ZIP code 04076 in Shapleigh, ME, there are notable risks for landlords considering Section 8 investments. Tenant turnover is a significant issue, with the market rent at $1,349 being lower than the Fair Market Rent (FMR) of $1,500 for FY 2024. This discrepancy can lead to tenants seeking higher rents outside the program, increasing turnover rates. Additionally, the vacancy exposure is concerning due to the lack of data on days on market (DOM), which suggests that properties may remain vacant for extended periods, impacting cash flow negatively.
The deferred maintenance exposure is another critical risk factor. With a typical home value of $404,048 and a median income of $88,140, residents may struggle to afford necessary repairs and maintenance, leading to potential property degradation over time. The financial burden of maintaining these homes while receiving rental payments that are below the market rate can be substantial for landlords.
However, these risks are somewhat mitigated by the high concentration of renters in the area. The 4.6% renter share indicates a dense population of potential voucher holders, likely creating a robust demand for affordable housing options. This high renter density can ensure a steady stream of qualified applicants, reducing the likelihood of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 04076.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.