Location: Kennebec County, ME | Metro: Kennebec County, ME
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 | $1,050 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $336,507 | 0.41% | F |
| 3BR | $1,780 | $397,101 | 0.45% | F |
| 4BR | $2,180 | $470,872 | 0.46% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 04355, Readfield, Maine, is set at $1,470 for the metro area fiscal year 2026. This figure represents the payment standard set by the U.S. Department of Housing and Urban Development (HUD) for Section 8 rentals in the area. It's important to note that this is not the amount you will charge your tenants as rent; rather, it's the maximum amount HUD will pay on behalf of eligible low-income tenants.
In comparison, the average rent for the area, based on Census ACS data, is $1,125. This indicates that the FMR is higher than the typical market rate, which can be beneficial for landlords who want to ensure they receive fair compensation for their properties.
The FMR also gives insight into the potential demand for Section 8 rentals. In Readfield, 10.1% of residents are renters, meaning there is a steady but modest demand for rental housing. However, the fact that the FMR exceeds the average rent suggests that there might be a particular interest in affordable housing options, which could translate into a stable tenant pool.
When acquiring a property in Readfield for a Section 8 rental, the median home value is around $337,662. This figure reflects the typical price range for homes in the area, giving you an idea of the investment required to enter the market.
Before proceeding with your first Section 8 rental in Readfield, make sure to verify that the property meets all local housing quality standards (HQS). These standards ensure that the rental unit is safe and habitable, which is a requirement for participation in the Section 8 program. Failure to meet these standards can result in penalties and loss of income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.