Location: Hancock County, ME | Metro: Hancock County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,290 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
U.S. Census Bureau data (2024)
15.3% of the residents in ZIP 04627 are renters, indicating a modest demand for rental properties. Landlords and small-portfolio investors should take note that the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,590, which represents the maximum amount a Section 8 voucher holder can pay for housing in this area. The market rent, according to Census ACS data, stands at $1,955, suggesting that the actual rental rates are higher than the FMR. This discrepancy means that landlords accepting Section 8 vouchers might see lower rents compared to the market average.
$395,398 is the median home value in ZIP 04627, which is a significant figure for property owners considering the investment potential. However, the median income of $61,703 indicates that many residents may struggle to afford market-rate rents without assistance, making Section 8 vouchers a viable option for tenants.
The data does not provide a specific number of days on the market (DOM) or the percentage of homes that had their prices cut. These missing metrics could imply stable pricing conditions, where homes are selling close to their asking prices without extended periods on the market.
In summary, while the median home value is substantial, the relatively low median income suggests that there will be a continued need for affordable housing options. The gap between the FMR and market rent highlights the financial considerations for landlords participating in the Section 8 program. Given these factors, landlords in ZIP 04627 should anticipate a steady but potentially less lucrative stream of rental income when accepting Section 8 vouchers.
Verdict: Accepting Section 8 vouchers in ZIP 04627 is a strategic move for landlords looking to fill units in a competitive market, though it comes with the trade-off of receiving below-market rents.
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.