Location: Washington County, ME | Metro: Washington County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 04611 in Sanford, SD, presents an interesting landscape for landlords and small-portfolio investors considering Section 8 tenants. With a population of 498, only 16.1% of residents are renters, indicating that this area is primarily homeowner-dominated rather than renter-heavy. This suggests that the demand for rental properties using Section 8 vouchers will be relatively limited.
The median household income in this ZIP code is $64,063. The typical market rent stands at $907, which amounts to approximately 14.3% of the median income when calculated annually. Comparatively, the Fair Market Rent (FMR) for the metro area is set at $1,090 for fiscal year 2026, making the actual market rent in 04611 below the FMR threshold. This difference implies that landlords in this area could potentially receive higher subsidies per unit if they participate in the Section 8 program, given that the FMR is used as a benchmark for determining voucher amounts.
In terms of the tenant profile expected in ZIP 04611, landlords should anticipate a mix of low-income individuals and families who qualify for housing assistance. These tenants will likely have their rent heavily subsidized, with the remainder being covered by their own income. Given the lower market rent compared to the FMR, these subsidies can make up a significant portion of the total rent collected, reducing financial risk for landlords.
However, due to the low percentage of renters in the area, competition for Section 8 tenants might be less intense, but it also means that the overall rental market is smaller. Landlords should be prepared for a niche market with fewer potential tenants, focusing on maintaining properties that meet the standards required for Section 8 participation and ensuring compliance with federal regulations.
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.