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 | $1,330 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,720 |
| 5 Bedrooms | $3,155 |
| 6 Bedrooms | $3,534 |
| 7 Bedrooms | $3,817 |
| 8 Bedrooms | $4,008 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,760 | $287,432 | 0.61% | D |
| 3BR | $2,420 | $377,762 | 0.64% | D |
| 4BR | $2,720 | $408,495 | 0.67% | D |
U.S. Census Bureau data (2024)
The ZIP code 04083, encompassing Springvale, ME, presents a market characterized by specific dynamics that suggest a balance between supply and demand, albeit with subtle indications favoring one over the other. The Fair Market Rent (FMR) for the area stands at $1330 for fiscal year 2024, reflecting the government's assessment of rental affordability. In contrast, the actual market rent, as reported by the Census ACS, is lower at $1,154, indicating that landlords can potentially increase rents to align closer with the FMR without losing tenants.
The median home value in ZIP 04083 is $362,676, which places it within a moderate range for the region. This figure suggests that homeownership remains accessible but requires careful financial planning. The absence of data on the percentage of price cuts and days on market (DOM) makes it challenging to pinpoint whether there is an excess of supply or demand. However, the low market rent compared to the FMR implies that there might be some oversupply, as landlords are competing to attract tenants.
A significant factor in the housing market is the 22.4% renter share, which indicates that nearly one-quarter of households are renters. This ratio suggests ongoing pressure on the rental market, as a substantial portion of residents are dependent on rental properties. For landlords and small-portfolio investors, this means that while there is a steady demand for rental units, the competition among landlords could keep rental prices from rising too quickly.
In summary, ZIP 04083 exhibits a rental market that is somewhat competitive, with potential for modest increases in rent to match the FMR. The moderate median home value and the notable renter share highlight a balanced market with slight tendencies towards supply outpacing demand, though the exact nature of this dynamic requires further analysis beyond the current snapshot.
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.