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 | $2,000 |
| 1 Bedroom | $2,280 |
| 2 Bedrooms | $2,870 |
| 3 Bedrooms | $3,550 |
| 4 Bedrooms | $3,780 |
| 5 Bedrooms | $4,385 |
| 6 Bedrooms | $4,911 |
| 7 Bedrooms | $5,304 |
| 8 Bedrooms | $5,569 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,550 | $909,537 | 0.39% | F |
| 4BR | $3,780 | $1,306,224 | 0.29% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 04110 is set at $2240 for fiscal year 2024. This figure represents the payment standard for Section 8 housing assistance in the area, meaning that if you participate in the program, this is the maximum amount the Housing Authority will pay toward a tenant's rent. It does not necessarily reflect the market rent you can charge, but it does give you an upper limit on the subsidy you can expect.
To put this into perspective, the median gross rent reported by the Census Bureau's American Community Survey (ACS) for ZIP 04110 is $1,839. This indicates that the typical renter in your area pays less than the Section 8 payment standard, which could be advantageous for securing tenants through the program. However, it also suggests that there might be some competition with lower-priced rentals, so ensuring your property meets quality standards is crucial.
The 22.5% share of renters in the area shows a significant demand for rental properties. With such a substantial portion of the population renting, there is likely a steady pool of potential tenants who would qualify for Section 8 assistance. This percentage also helps gauge the overall rental market health and the likelihood of finding interested tenants.
If you're looking to acquire a property for your first Section 8 rental in ZIP 04110, consider that the median home value in the area is approximately $969,799. This figure represents the typical cost of purchasing a home in this ZIP code, which is important to factor into your investment decision. Remember, the property must meet Housing Quality Standards (HQS), and the rent cannot exceed the FMR.
Before finalizing your decision to enter the Section 8 market, ensure that your property's location and condition align with the needs of the community and the requirements of the program. This will help you avoid any unexpected issues during the application process.
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.