Location: Aroostook County, ME | Metro: Aroostook County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 04783, which is located in Maine, not Tennessee, is set at $1,310 for the metro area fiscal year 2026. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing voucher program. It does not mean that tenants will pay $1,310 in rent; rather, it's the maximum amount HUD will pay landlords through the voucher program.
In comparison, the average rent for the same ZIP code according to the Census Bureau's American Community Survey (ACS) is $950. This indicates that the FMR is higher than the typical market rate, potentially offering a better financial outcome for landlords participating in the Section 8 program.
The renter share in ZIP code 04783 is 11.1%, suggesting a moderate demand for rental properties. While this percentage is not exceptionally high, it still points to a reasonable number of potential tenants who might benefit from Section 8 vouchers. However, the acquisition cost for rental properties in this area is noted as N/A, which could imply that there is limited publicly available data on property values. This makes it crucial for prospective landlords to conduct thorough research on local property prices to ensure they can acquire a suitable rental property at a fair price.
Before deciding to participate in the Section 8 program with a rental property in ZIP 04783, verify that your property meets the minimum standards for housing quality as defined by HUD. These standards are designed to ensure that all tenants have access to safe and decent living conditions, and failing to meet them can result in penalties or disqualification from the program. Once you confirm that your property is up to code, you can proceed with confidence, knowing that you're providing a valuable service while also securing a reliable income source.
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.