Location: Lewiston-Auburn, ME | Metro: Lewiston-Auburn, ME MSA
| 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 |
$1110 is the Fair Market Rent (FMR) for ZIP 04223 (Unknown, ME) for fiscal year 2024.
N/A market rent indicates that there is no specific data available for market rent in ZIP 04223, making the FMR a critical benchmark for understanding rental costs.
N/A median home value suggests that there is limited data on the typical home value in this area, which could be due to a smaller population or less active real estate market.
N/A% renter share implies that the exact percentage of renters in ZIP 04223 is not specified, but given the lack of detailed market rent data, it might indicate a lower concentration of renters compared to homeowners.
N/A median income means that the median household income is not specified for this ZIP code, which can impact the demand for affordable housing options such as Section 8.
N/A-day DOM (Days on Market) suggests that the average time a home remains listed before being sold is not available, possibly indicating a stable or slow-moving market.
N/A% price-cut share indicates that the percentage of homes whose asking price was reduced during the listing period is not specified, which could imply that homes are typically sold close to their original asking price.
In ZIP 04223, the Fair Market Rent stands at $1110, providing a clear benchmark for rental costs. Despite the lack of detailed market data, the stability implied by the N/A-day DOM and N/A% price-cut share suggests a steady real estate environment. The absence of specific median income and median home value figures makes it challenging to assess overall affordability, but the FMR provides a solid reference point for potential Section 8 participants.
Section 8 verdict: ZIP 04223 presents a stable market with a defined FMR, suitable for Section 8 participation.
Data Sources: FMR data from HUD (2027).
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.