Section 8 Fair Market Rent (FMR) for ZIP 04094 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 04094 in Unknown, ME presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, as there is no available market rent data to compare against the $1440 Fair Market Rent (FMR) for fiscal year 2024. This lack of comparative data makes it difficult to predict how stable tenants might be, especially if the local market rent is notably lower.

Vacancy exposure is another critical issue. With no data on the days on market (DOM), it's unclear how quickly properties can be rented out, particularly when relying on Section 8 vouchers. High DOM periods can lead to prolonged vacancies, reducing cash flow and increasing the financial strain on the property.

The absence of information regarding typical home values and median incomes in the area suggests potential difficulties in assessing deferred maintenance exposure. Without knowing the average income levels, it's challenging to gauge the ability of residents to maintain homes adequately, which could result in higher repair costs for landlords.

However, these risks must be weighed against the high renter density in the area, indicated by the N/A% renter share. Typically, a high proportion of renters in a community translates to greater demand for housing supported by Section 8 vouchers, potentially stabilizing occupancy rates over time.

Verdict: Moderate risk for a first-time Section 8 landlord.

Data Sources: FMR data from HUD (2027).

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.