Section 8 Fair Market Rent (FMR) for ZIP 04911 - 2027

Location: Somerset County, ME | Metro: Somerset County, ME

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,000
1 Bedroom	$1,000
2 Bedrooms	$1,200
3 Bedrooms	$1,620
4 Bedrooms	$1,670
5 Bedrooms	$1,937
6 Bedrooms	$2,169
7 Bedrooms	$2,343
8 Bedrooms	$2,460

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,880

Median Household Income

$62,697

Housing Units

991

Renter Percentage

18.7%

Occupancy Rate

79.8%

Renter Occupied

148

The ZIP code 04911, located in Maine, offers a unique blend of rural charm and accessibility to urban amenities, making it an attractive location for both residents and investors. The area is characterized by its modest-sized housing market, where rental properties can serve as a stable investment opportunity.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,220, indicating the government's benchmark for what is considered a reasonable rental price.
The average market rent for the area, according to Census ACS data, stands at $902, suggesting that there is room for rental prices to grow towards the FMR level.
The median home value in ZIP 04911 is $186,068, which is relatively low compared to other parts of the country, presenting an affordable entry point for property acquisition.
Renters make up 18.7% of the population, showing a moderate demand for rental units in the area.
The median income of the area is $62,697, providing insight into the financial capacity of potential tenants.

Synthesizing these points, ZIP 04911 presents a balanced opportunity for investors. With rental prices currently below the FMR, there is potential for growth, especially as the local economy continues to develop. The modest median home value suggests that acquiring properties could be cost-effective, while the median income figure indicates that tenants are likely to have the financial stability to meet rental obligations. Although the renter share is moderate, the combination of these factors makes the area a viable option for those looking to enter the rental market with a focus on stability and gradual appreciation.

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.