Location: Portland, 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 | $1,670 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,400 |
| 3 Bedrooms | $2,960 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,960 | $438,952 | 0.67% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 04085 in fiscal year 2024 is set at $1,680. This figure is higher than the historical average for the Portland, ME HUD Metro FMR Area, which was around $1,387 for a two-bedroom home in 2019. This suggests that ZIP 04085 is experiencing higher rental costs compared to the broader Portland area.
The market rent for ZIP 04085 is estimated at $1,551. This is slightly below the FMR but still indicates a trend towards higher rents within this ZIP code.
The home value in ZIP 04085 is reported at $426,487. This figure is above the typical home values seen in other parts of the Portland, ME HUD Metro FMR Area, which often range lower. The higher home values suggest that this ZIP code is likely a premium sub-market within the larger Portland area.
The renter share in ZIP 04085 is 13.8%. This percentage is relatively low compared to typical ZIP codes within the Portland, ME HUD Metro FMR Area, where the renter share might be higher. A lower renter share could indicate a stronger preference for homeownership in this area, despite the higher home values.
ZIP 04085 appears to be a premium sub-market within the Portland, ME HUD Metro FMR Area, characterized by higher FMRs and home values. However, the relatively low renter share suggests that while it may be a desirable location for homeowners, it is not necessarily a value pocket for those seeking affordable rentals. The divergence between high home values and a lower-than-average renter share does not signal a typical Section 8 sweet spot, where high renter share and below-metro home values often coincide.
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.