Section 8 Fair Market Rent (FMR) for ZIP 04219 - 2027

Location: Oxford County, ME | Metro: Oxford County, ME

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$1,000
2 Bedrooms	$1,290
3 Bedrooms	$1,790
4 Bedrooms	$2,160
5 Bedrooms	$2,506
6 Bedrooms	$2,807
7 Bedrooms	$3,032
8 Bedrooms	$3,184

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,399

Median Household Income

$62,361

Housing Units

1,110

Renter Percentage

7.7%

Occupancy Rate

47.7%

Renter Occupied

The town of Madison, located in Connecticut (not Pennsylvania), is a suburban area known for its quiet neighborhoods and proximity to larger cities, making it an attractive location for both residents and investors. The following analysis provides key insights into the rental market dynamics in ZIP code 04219, which is actually 06443, the correct ZIP code for Madison, CT.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,410.
The average market rent for properties in Madison, according to the Census American Community Survey, is $850 per month.
The median home value in Madison stands at $249,719, indicating a moderate housing market.
Renters make up 7.7% of the total population, suggesting that homeownership is prevalent in the area.
The median household income in Madison is $62,361, providing insight into the economic profile of the residents.
The days on market (DOM) for rental listings is not available, which could indicate a stable market where vacancies are quickly filled.

Synthesizing these points, investors in Madison should note the significant gap between the Fair Market Rent and the current market rent, indicating potential for rent increases. However, the relatively low renter share suggests a strong preference for homeownership among residents, which could limit the demand for rental properties. Despite this, the moderate median home value and solid median income levels provide a foundation for steady rental growth. Given the lack of data on days on market, it's advisable to monitor local vacancy rates closely to gauge the true health of the rental market. Overall, while Madison presents opportunities for rental investment, careful consideration of the local housing preferences and market trends is essential for success.

Data Sources: FMR data from HUD (2027). 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.