Location: Washington County, ME | Metro: Washington County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,390 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,460 |
| 4 Bedrooms | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 04671 offers a unique opportunity for landlords and small-portfolio investors looking to enter the rental market. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,880. This figure represents the payment standard, which is the maximum amount the government will pay toward a tenant's rent. It does not reflect the total rent you can charge, but rather the portion covered by the voucher.
To put this into perspective, the average rent for the area, according to Census American Community Survey (ACS) data, is $1,232. This suggests that the FMR is significantly higher than the typical rent, potentially offering landlords a competitive edge when it comes to attracting tenants with vouchers.
The demand for rentals in this area is strong, with 17.3% of residents being renters. This indicates a steady pool of potential tenants who might be interested in your property. However, the acquisition cost for properties in this area is noted as N/A, which means there isn't readily available data on how much it costs to buy or build a rental unit. This could imply that property values are either highly variable or not widely reported, so careful research into individual listings is crucial.
A key point for verification before proceeding with a Section 8 rental is the condition of the property. The Housing Quality Standards (HQS) require that all units participating in the program meet certain safety and quality criteria. Ensure your property complies with these standards to avoid delays or disqualification from the program. This involves checking for issues such as peeling paint, faulty plumbing, and structural problems, among other things.
In summary, the FMR of $1,880 provides a solid financial backing for landlords in ZIP 04671, surpassing the local average rent of $1,232. With a significant renter population, there is a good chance of finding interested voucher holders. But remember, the success of your investment hinges on the property meeting HQS requirements. This is your first step towards making an informed decision about your Section 8 rental venture.
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.