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 | $2,100 |
| 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 |
|---|---|---|---|---|
| 3BR | $3,260 | $834,133 | 0.39% | F |
U.S. Census Bureau data (2024)
ZIP code 04109 is located in a region with a very small population of 213 individuals, making it an insignificant market for rental properties. The data indicates that there are no renters in this ZIP code, as the percentage of renters is listed at 0.0%. This implies that the area is dominated by homeowners rather than renters, suggesting that the demand for Section 8 vouchers is virtually non-existent.
The median household income for ZIP 04109 is not available, which makes it challenging to provide a direct comparison between income levels and market rents. However, given the lack of renters in the area, it's reasonable to infer that the local rental market is either very small or non-existent. Therefore, typical rents would consume a proportionally smaller share of local incomes, though without specific income data, this cannot be quantified.
Comparing the situation to the Fair Market Rent (FMR) of $2260, which is set for FY 2024, landlords in ZIP 04109 would not find many tenants eligible for Section 8 vouchers due to the absence of renters in the area. The FMR figure serves as a benchmark for rental costs, but in this case, it is largely irrelevant given the demographics of the area.
A landlord in ZIP 04109 should expect to encounter few, if any, potential tenants who rely on Section 8 vouchers. The area is predominantly composed of homeowners, and thus, the rental market is likely to be limited. Landlords might need to look elsewhere for a substantial pool of Section 8 tenants, as this ZIP code does not offer a suitable environment for such investments.
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.