Location: Hancock County, ME | Metro: Hancock 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 | $1,110 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,360 | $537,156 | 0.25% | F |
| 3BR | $1,850 | $611,439 | 0.3% | F |
| 4BR | $1,880 | $871,496 | 0.22% | F |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 04679, Southwest Harbor, ME, reveal a market in motion, particularly influenced by the rental sector. The Fair Market Rent (FMR) for the area stands at $1,330 for metro fiscal year 2026, indicating a higher benchmark set by HUD for the region. However, the actual market rent, according to Census ACS data, is significantly lower at $959. This suggests that while there is an official target for rents, the market is currently operating below this threshold, which could point to either a cautious approach by landlords or a lack of demand pushing rents down.
The median home value in the area is $597,469, which provides a context for the overall property values but doesn't directly inform on the rental market's health. The percentage of homes offered at a price cut and the days on market (DOM) for listings are not available, leaving us without direct indicators of the supply-demand balance. Nevertheless, the fact that the market rent is below the FMR implies that there might be a slight oversupply or that landlords are adjusting their rates to attract tenants.
A notable figure is the 44.3% renter share, which indicates that nearly half of the households in Southwest Harbor are renters. This high proportion of renters can signal ongoing housing pressure, especially if the trend persists. It means that a significant portion of the population is not invested in homeownership, potentially due to affordability issues or a preference for renting. This dynamic can influence the local real estate market, keeping rental properties in demand and possibly affecting the rate of homeownership.
In summary, ZIP 04679 presents a market where the rental segment is below the official FMR, suggesting a careful balancing act between supply and demand. The substantial renter share points to a persistent pressure on housing, favoring landlords who can manage their properties effectively to maintain occupancy rates and profitability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.