Location: Washington County, ME | Metro: Washington County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
The ZIP code 04658 in Somerset County, Maine, stands out due to its unique demographic and economic characteristics. With a population of 1,222 residents, only 14.9% rent their homes, indicating a predominantly owner-occupied community. The median income here is $60,536, which is relatively modest but provides a stable financial foundation for the area. The median home value is significantly higher at $246,673, suggesting that homeownership is valued and that there is a certain level of investment in property within this ZIP.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,220, while the actual market rent, according to the Census ACS, is much lower at $619. This discrepancy means that landlords accepting Section 8 vouchers can potentially charge closer to the FMR, making the program attractive for those who have rental units available. However, the low rental rate indicates that only a small portion of the population might be eligible for such assistance, given the relatively high median home value and modest median income.
The data signature for ZIP 04658 reads as "stable." The combination of a moderate median income, a high median home value, and a low percentage of renters suggests that the community is financially secure and has little need for rental assistance programs. Landlords and small-portfolio investors should consider these factors when evaluating the potential benefits and risks associated with participating in the Section 8 program in this area.
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.