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 | $1,580 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,270 |
| 3 Bedrooms | $2,800 |
| 4 Bedrooms | $2,980 |
| 5 Bedrooms | $3,457 |
| 6 Bedrooms | $3,872 |
| 7 Bedrooms | $4,182 |
| 8 Bedrooms | $4,391 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,270 | $611,748 | 0.37% | F |
| 3BR | $2,800 | $784,773 | 0.36% | F |
| 4BR | $2,980 | $965,278 | 0.31% | F |
U.S. Census Bureau data (2024)
The ZIP code 04108 in Portland, Maine, stands out within Cumberland County due to its unique demographic and economic characteristics. With a population of 826 residents, only 11.3% of whom rent their homes, this area has a relatively low rental rate compared to other ZIP codes. The median income here is $94,318, indicating a higher standard of living, while the median home value sits at an impressive $721,019.
The dynamics of the rental market in ZIP 04108 are further illuminated by the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1,680, whereas the Census American Community Survey (ACS) data indicates that the average market rent is approximately $1,500. This suggests that landlords participating in the Section 8 program can expect to receive slightly above market rates, which could be advantageous given the higher overall cost of living in the area.
However, it's important to note that the lower percentage of renters in this ZIP code might indicate a smaller pool of potential tenants who qualify for Section 8 vouchers. Landlords should be prepared for a potentially more selective market when it comes to finding eligible tenants. Additionally, the higher median home value means that properties in this area may not be as numerous among the inventory of rental units.
When evaluating the stability of ZIP 04108 based on the available data, the signature appears to be stable. The median income and home values suggest a consistent economic environment, and the low rental rate implies a community where homeownership is the norm. While the voucher economics offer a slight premium over market rates, the overall conditions point towards a steady state rather than a transitional phase.
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.