Section 8 Fair Market Rent (FMR) for ZIP 04210 - 2027

Location: Lewiston-Auburn, ME | Metro: Lewiston-Auburn, ME MSA

Investment Score for ZIP 04210

Monthly Rent (2BR)

$1,680

Median Price (2BR)

$278,917

1% Rule

0.6%

Annual Yield

7.23%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,210
1 Bedroom	$1,280
2 Bedrooms	$1,680
3 Bedrooms	$2,120
4 Bedrooms	$2,460
5 Bedrooms	$2,854
6 Bedrooms	$3,196
7 Bedrooms	$3,452
8 Bedrooms	$3,625

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,280	$239,157	0.54%	F
2BR	$1,680	$278,917	0.6%	D
3BR	$2,120	$346,970	0.61%	D
4BR	$2,460	$386,952	0.64%	D
5BR	$2,854	$421,024	0.68%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

24,602

Median Household Income

$66,647

Housing Units

11,136

Renter Percentage

40.9%

Occupancy Rate

92.8%

Renter Occupied

4,224

Auburn, ME, represented by ZIP code 04210, is a mid-sized city in the state known for its blend of rural charm and urban amenities. The real estate market here reflects a balance between affordability and quality of life, making it attractive for both tenants and investors. Below is a concise market analysis based on key metrics that provide insight into the rental and property investment landscape.

The Fair Market Rent (FMR) for a two-bedroom apartment in Auburn for fiscal year 2024 is set at $1100, indicating the subsidized housing threshold.
The market rent, as measured by the Zillow Rent Index (ZORI), stands at $1,607 for a similar unit, suggesting a premium over the FMR.
The median home value in Auburn is $320,975, offering a moderate price point for potential homeowners and investors alike.
Renters make up 40.9% of the population, highlighting a significant demand for rental properties.
The median income in the area is $66,647, providing a basis for assessing the financial capacity of residents to afford housing costs.

In summary, Auburn presents a balanced opportunity for real estate investment. With a substantial renter base and market rents significantly higher than the FMR, there is a clear gap where investors can offer affordable yet profitable rental options. The median home value suggests a middle-ground market, neither too expensive nor too cheap, which could attract a broad range of buyers and renters. However, the lack of data on days on market (DOM) indicates either a stable market or a need for further investigation into how quickly properties are turning over. Investors should consider these factors to align their strategies with the local economic conditions and housing needs.

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.