Location: Washington County, ME | Metro: Washington County, ME
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 | $860 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,570 | $245,726 | 0.64% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 04631 presents a dynamic environment that is indicative of current housing pressures and potential future trends. With a Fair Market Rent (FMR) of $1,210 for the fiscal year 2026, it's clear that the government benchmark for rental affordability significantly exceeds the average market rent of $565, based on recent Census American Community Survey (ACS) data. This discrepancy suggests a substantial gap between what tenants can afford and what landlords are pricing their units at, potentially indicating that supply may be outpacing demand in this area.
The median home value of $233,017 provides insight into the overall cost of homeownership in ZIP 04631. However, without specific data on the percentage of price cuts and days on the market (DOM), it's challenging to pinpoint the exact balance between supply and demand. The lack of these metrics could imply a stable market, where neither significant discounts nor extended listing periods are necessary to attract buyers.
A noteworthy statistic is the 35.1% share of renters in the population. This figure is a key indicator of long-term housing pressure. A higher proportion of renters often points to affordability issues or other factors that make homeownership less accessible for a significant portion of residents. In ZIP 04631, this suggests ongoing pressure on the rental market, which landlords should consider when evaluating the stability and potential profitability of their investments.
In summary, the market in ZIP 04631 appears to be moving towards a scenario where supply is meeting or exceeding demand, particularly in the rental sector. The significant difference between FMR and market rent indicates a possible surplus of rental properties. Meanwhile, the high renter share points to enduring challenges for potential homeowners, which could sustain demand for rental properties over the long term.
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.