Location: Penobscot County, ME | Metro: Bangor, ME 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 | $1,270 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,760 | $225,322 | 0.78% | D |
| 3BR | $2,350 | $264,943 | 0.89% | C |
| 4BR | $2,500 | $281,135 | 0.89% | C |
| 5BR | $2,900 | $301,047 | 0.96% | C |
U.S. Census Bureau data (2024)
ZIP code 04468, located in Old Town, Maine, stands out within Penobscot County due to its unique demographic and economic characteristics. With a population of 9,291 residents, Old Town has a significant rental market, with 35.3% of its residents renting their homes. The median income in the area is $56,358, while the median home value is notably higher at $244,512. These figures indicate a mix of affordability and higher-value housing, making it an interesting market for real estate investment.
For landlords and small-portfolio investors, the economics of Section 8 vouchers in ZIP 04468 present both opportunities and challenges. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1,180, which is significantly lower than the market rent, measured by the Zillow Observed Rental Index (ZORI), at $1,524. This difference suggests that landlords could potentially benefit from the gap between government-subsidized rents and market rates. However, it also implies that the rental market might be segmented, with a portion of the market relying heavily on subsidized housing.
The data signature for ZIP 04468 reads as stable. The consistent median home values and rental rates suggest that the local economy supports a steady demand for housing, both owned and rented. While the presence of a substantial rental market indicates some reliance on affordable housing options, the overall economic indicators point towards a community that is maintaining its position without significant signs of transition. For investors, this stability means that returns on investment can be projected with reasonable confidence, although they should remain vigilant to any shifts in the local economy or housing policies that could impact the market dynamics.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.