Location: Kennebec County, ME | Metro: Kennebec County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
The ZIP code 04926 represents a rural area in Franklin, Maine, which is part of a county known for its natural beauty and outdoor recreation opportunities. Specific data points such as the exact population, percentage of renters, median income, and median home value were not available at the time of this analysis. However, focusing on the economic factors relevant to rental properties, we can draw some conclusions.
The Fair Market Rent (FMR) for ZIP 04926 is set at $1,420 for the fiscal year 2026, reflecting the average cost of housing in the metropolitan area. This figure is critical for landlords considering participation in the Section 8 program, as it determines the maximum rental subsidy amount. In comparison, the current market rent for the area is not specified, but it's important to note that rural areas often have lower market rents compared to urban centers.
Given the lack of detailed local market rent data, the FMR serves as a benchmark for evaluating whether the ZIP 04926 is suitable for hands-off voucher operators or hands-on value-add buyers. For hands-off operators, the stability and predictability of Section 8 rents can be attractive, especially if the FMR aligns closely with market rents. On the other hand, value-add buyers might find opportunities in areas where market rents are significantly below the FMR, allowing them to improve property values and potentially increase rents beyond the subsidy level.
In conclusion, while specific demographic details are unavailable, the $1,420 FMR provides insight into the rental market dynamics. Landlords should consider the alignment between FMR and actual market rents when deciding their investment strategy in ZIP 04926.
Data Sources: FMR data from HUD (2027).
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.