Location: Aroostook County, ME | Metro: Aroostook 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 | $940 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $143,066 | 0.87% | C |
| 3BR | $1,670 | $192,098 | 0.87% | C |
| 4BR | $1,730 | $209,182 | 0.83% | C |
| 5BR | $2,007 | $225,213 | 0.89% | C |
U.S. Census Bureau data (2024)
The ZIP code 04769 encompasses a portion of Presque Isle, Maine, a town with a total population of 8,736. This neighborhood is characterized by a significant rental market, with 42.2% of residents being renters. The median household income here stands at $55,768, indicating a modest but stable economic base. The median home value in this area is $171,273, which reflects a relatively affordable housing market.
Turning to the rent economics, the Fair Market Rent (FMR) for ZIP 04769 in the metro fiscal year 2026 is set at $1,320. In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is $904. This discrepancy suggests that there is potential for landlords to benefit from the Section 8 program, as it can offer higher rents compared to the local market rate.
Given these figures, ZIP 04769 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stability of the Section 8 program, combined with the higher FMR rates, can provide a reliable source of income without the need for extensive property management. Meanwhile, value-add buyers might find opportunities to improve properties and charge closer to the FMR, thereby increasing their cash flow. However, they should be prepared to invest in property enhancements and manage the complexities of the rental market in Presque Isle.
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.