Location: Washington County, ME | Metro: Washington County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 04628 in the metro area for fiscal year 2026 is set at $1,420. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, the government will pay up to this amount per month for eligible tenants. However, it's important to note that this is not your rent; rather, it's the maximum reimbursement rate from the Housing Choice Voucher Program.
To put this into perspective, the average rent for ZIP 04628, based on recent Census American Community Survey (ACS) data, is $1,108. This indicates that the FMR is higher than the typical market rent, which can be advantageous for landlords who wish to receive a slightly higher rate than they might otherwise get from private renters. The difference between the FMR and the actual market rent suggests a potential buffer against inflation and maintenance costs.
The ZIP code has an 18.1% share of renters, indicating a steady demand for rental properties. Given this percentage, there are likely many potential tenants who could benefit from Section 8 vouchers, making it a viable option for landlords looking to fill vacancies. Despite the lack of specific data on property acquisition costs (denoted as N/A), the fact that the FMR exceeds the average rent implies that landlords can potentially recover more of their expenses through the voucher program.
Before deciding to accept a Section 8 tenant, it is crucial to verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe and habitable, which is a prerequisite for participation in the program. Ensuring compliance with HQS will help avoid any delays in securing a tenant and receiving payments.
In summary, the FMR of $1,420 for ZIP 04628 offers a clear benchmark for landlords participating in the Section 8 program. It is higher than the average local rent of $1,108, reflecting a healthy demand for rental units and providing a financial cushion. By confirming that your property meets the necessary HQS requirements, you can proceed with confidence knowing that you are prepared to offer a secure and comfortable living space to your future tenants.
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.