Location: Piscataquis County, ME | Metro: Piscataquis County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 04415 in Rhode Island, set at $1,170 for metro fiscal year 2026, represents the payment standard for Section 8 housing vouchers. This means that if you participate in the Section 8 program, the government will pay up to $1,170 per month for a unit in this area, based on the voucher holder's income and other factors.
Note that this amount is not necessarily what you would charge as rent. It is the maximum subsidy the government will provide, and the actual rent could be higher or lower depending on your property's market value and the terms agreed upon with the housing authority.
In ZIP 04415, the local median rent is currently listed as N/A, which indicates there might be limited data available. However, the renter share of the population stands at 22.1%, suggesting a moderate demand for rental properties. This percentage reflects the proportion of residents who are likely to seek rental accommodation, including those who might use Section 8 vouchers.
The acquisition cost for new properties in this area is also noted as N/A. This lack of specific figures makes it difficult to assess the exact costs associated with buying a new rental property. However, it's important to consider that the initial investment can vary widely depending on the condition of the property and any necessary renovations.
Before deciding to participate in the Section 8 program with a rental property in ZIP 04415, you should verify the local rental market conditions. Specifically, check the average rent for similar properties to ensure that the FMR of $1,170 aligns with the market value. This will help you determine if the subsidy amount is sufficient to cover your expenses and meet your financial goals.
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.