Location: Penobscot County, ME | Metro: Penobscot County, ME (part) HUD Metro FMR Area
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 | $1,240 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,430 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,780 | $183,602 | 0.97% | C |
| 3BR | $2,430 | $222,528 | 1.09% | B |
U.S. Census Bureau data (2024)
The rental market in ZIP 04455, Lee, ME, is characterized by a Federal Market Rent (FMR) of $1180 for fiscal year 2024. This figure serves as a benchmark for the area's rental costs, indicating the average fair market rent for a two-bedroom apartment. The absence of data on market rent suggests that either the market is relatively stable, with little deviation from the FMR, or that there isn't sufficient rental activity to establish a reliable market rent figure.
The lack of information regarding the percentage of price-cut share and days on market (DOM) implies that the rental market is not highly competitive, with neither landlords nor tenants engaging in significant price negotiations or experiencing prolonged vacancy periods. However, this could also be due to limited data availability, which makes it challenging to draw definitive conclusions about the supply-demand balance.
A median home value of $180,258 indicates that homeownership is relatively affordable in this area. This could suggest that the population prefers owning homes over renting, which aligns with the low renter share of 3.0%. A small percentage of renters relative to homeowners often points to a community where long-term housing pressures are minimal, as fewer people are seeking rental properties. This dynamic can be beneficial for landlords, as it may reduce competition among rental units and maintain steady occupancy rates.
Despite the limited data, the overall snapshot suggests a market where supply meets demand without significant surplus or shortage. Landlords can expect a stable rental environment, with few fluctuations expected in the near term. The low renter share further supports this stability, implying a consistent preference for homeownership among residents.
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.