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 | $1,840 |
| 1 Bedroom | $2,090 |
| 2 Bedrooms | $2,640 |
| 3 Bedrooms | $3,260 |
| 4 Bedrooms | $3,470 |
| 5 Bedrooms | $4,025 |
| 6 Bedrooms | $4,508 |
| 7 Bedrooms | $4,869 |
| 8 Bedrooms | $5,112 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,090 | $297,241 | 0.7% | D |
| 2BR | $2,640 | $444,028 | 0.59% | F |
| 3BR | $3,260 | $552,189 | 0.59% | F |
| 4BR | $3,470 | $682,282 | 0.51% | F |
| 5BR | $4,025 | $904,749 | 0.44% | F |
U.S. Census Bureau data (2024)
2190 South Portland, ME's Fair Market Rent for FY 2024 is set at $2190, providing a benchmark for rental pricing in the area. 518074 With a median home value of $518,074, the housing market reflects a stable and somewhat expensive environment. 416 However, with a 41.6% renter share, there is a significant portion of the population looking to lease properties rather than purchase. 2429 The actual market rent, known as ZORI, stands at $2,429, indicating that landlords can charge slightly above the FMR to remain competitive. 86188 Given the median income of $86,188, tenants have the financial capacity to afford these rents, suggesting a healthy demand for rental properties. 17 A 17-day DOM (Days on Market) shows that listings are moving quickly, which is beneficial for both landlords and investors aiming to minimize vacancy periods. 01 With only a 0.1% price-cut share, it's evident that the market is robust, and there's little need to reduce asking prices to attract tenants. This combination of factors—market rents exceeding FMR, strong median incomes, quick market absorption, and minimal price-cutting—makes South Portland an attractive location for real estate investments. 2190 For landlords and small-portfolio investors, the Section 8 program offers a reliable source of income, given the established FMR. However, the higher market rents suggest that there is also potential for private leasing at rates above the subsidized level. 2429 Considering the market dynamics, landlords should aim for rental prices around the $2,429 ZORI mark to maximize their returns while still being accessible to the local tenant pool. 2190 In conclusion, South Portland presents a favorable landscape for Section 8 participation, but opportunities exist beyond the program to leverage the strong rental market.
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.