Location: Lincoln County, ME | Metro: Knox 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 | $1,160 |
| 2 Bedrooms | $1,410 |
| 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 | $1,410 | $325,131 | 0.43% | F |
| 3BR | $1,850 | $363,465 | 0.51% | F |
| 4BR | $1,880 | $402,881 | 0.47% | F |
U.S. Census Bureau data (2024)
ZIP code 04864, located in Warren, ME within the Lincoln County, ME metro area, presents a unique profile when compared against typical ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 04864 is set at $1,440 for fiscal year 2026, which is notably higher than the average market rent of $1,125. This suggests that landlords in this ZIP might benefit from higher federally subsidized rental rates, making it potentially attractive for those involved in Section 8 housing programs.
The median home value in ZIP 04864 stands at $341,002, which is indicative of a middle-tier neighborhood relative to other areas within Lincoln County. However, the relatively high FMR compared to the market rent could point towards an opportunity where the government subsidy significantly exceeds the local market rate, thereby increasing the profitability for landlords participating in the Section 8 program.
A key indicator for potential investment opportunities is the renter share, which is 18.7% in ZIP 04864. While this figure is not exceptionally high, it aligns with the general trend observed in Lincoln County. A higher renter share combined with lower home values often signifies a sweet spot for Section 8 properties, but in this case, the home values are in line with the county's average, suggesting a balanced scenario rather than a value pocket or premium sub-market.
To summarize, ZIP 04864 offers a middle-ground scenario within the Lincoln County, ME metro. It is neither a value pocket nor a premium sub-market based on the provided figures. Landlords should consider the higher FMR relative to market rents as a positive aspect, while the median home value indicates a moderate investment level. The renter share is average, which means the demand for rental units is consistent with the broader market trends.
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.