Location: Knox County, ME | Metro: Knox County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,520 |
| 1 Bedroom | $1,620 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 04859 in fiscal year 2026 is set at $2,090. This figure represents the payment standard for Section 8 housing assistance in the area, meaning it's the maximum amount the government will pay on behalf of eligible tenants. It does not represent the total rent you can charge, but rather the upper limit for the subsidy.
While the local median rent is listed as N/A, we can infer demand based on the renter share, which is 15.5%. This percentage indicates that approximately 15.5% of the total household income in the area goes towards rent. Given this, there is a notable demand for affordable housing options, making Section 8 a viable route for securing tenants.
The acquisition cost for properties in this ZIP code is also listed as N/A, which suggests limited data is available. However, it's important to note that the FMR does not directly correlate with property values or acquisition costs. Instead, it's a guideline for setting rent levels under the Section 8 program.
Before proceeding with your first Section 8 rental in ZIP 04859, ensure the property meets all necessary inspection criteria. The housing must pass a quality inspection known as the Housing Quality Standards (HQS), which checks for safety, habitability, and structural integrity. This verification is crucial as it determines whether your property qualifies for the program and can attract tenants.
To summarize, the FMR of $2,090 sets the subsidy cap, indicating a strong demand for affordable housing given the 15.5% renter share. While local median rents and acquisition costs are not specified, the key step is ensuring your property passes the HQS inspection to be eligible for the Section 8 program.
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.