Section 8 Fair Market Rent (FMR) for ZIP 04420 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 04420, located in Maine, encompasses a rural area that is part of the larger Portland-Vancouver-Hillsboro metro region. This section focuses on the real estate dynamics influenced by the nearby urban center, particularly concerning rental properties and the Section 8 program.

• The Fair Market Rent (FMR) for the metro area, which includes ZIP 04420, is set at $1,500 for fiscal year 2026, indicating a moderate demand for rental housing.
• Market rent data specific to ZIP 04420 is currently unavailable, suggesting that the area may not have robust market activity or reporting mechanisms in place.
• The median home value in this ZIP code is also not available, pointing to limited data on the sale prices of homes in the area.
• Renter share data for ZIP 04420 is not available, making it difficult to assess the proportion of residents who prefer renting over owning.
• The Days on Market (DOM) data is not available, which would typically help gauge how quickly rental properties are leased in this area.
• Middle-class income levels are reflected by the lack of specific median income data for the ZIP code, implying a need for affordable housing solutions.

In summary, while ZIP 04420 lacks detailed local real estate metrics, it benefits from being part of a larger metro area with a defined Fair Market Rent of $1,500. This suggests that there is potential for rental properties to be viable investments, especially those catering to middle-income families through programs like Section 8. However, without precise local market rent and median home value figures, it's challenging to make definitive statements about the profitability of rental investments in this specific area. Landlords and investors should consider leveraging broader regional trends while being prepared for less predictable local conditions.

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.