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 04464 in Rhode Island is set at $1,140 for the fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the amount that the government will pay to cover part of the rent for eligible tenants. It's important to note that this is not the total rent you can charge your tenant; rather, it's the maximum subsidy amount the government will provide.
While the local median rent for ZIP 04464 is currently unavailable, the FMR gives a benchmark for understanding the typical rental rates in the area. With a 17.1% share of renters in the region, there is a significant demand for affordable housing options, making Section 8 rentals a viable choice for landlords looking to fill vacancies and maintain steady cash flow.
The average home price in ZIP 04464 stands at $213,436. For new investors considering their first Section 8 rental property, this indicates the acquisition cost they should expect when purchasing a property in this area. Although the FMR does not guarantee the total rent income, it provides a stable base that can help offset some of the costs associated with owning a rental property.
Before finalizing any investment decision, it is crucial to verify that the property meets all the necessary requirements to participate in the Section 8 program. This includes ensuring the unit is up to HUD’s housing quality standards, which covers aspects such as safety, cleanliness, and overall condition of the property. Meeting these standards is non-negotiable and ensures that you receive the promised subsidies without interruption.
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.