Location: Somerset County, ME | Metro: Kennebec 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 | $1,040 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $208,048 | 0.62% | D |
| 3BR | $1,690 | $244,611 | 0.69% | D |
| 4BR | $1,950 | $308,288 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 04937 in Fairfield, ME, stands out within Somerset County due to its unique demographic and economic characteristics. With a population of 6,358 residents, it has a rental rate of 21.9%, indicating a modest demand for rental properties. The median income in this area is $63,933, which is relatively stable compared to other regions, and the median home value is $242,717, reflecting a middle-class community.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,230. This figure is notably higher than the current market rent of $1,001, as reported by the Census Bureau's American Community Survey. This discrepancy suggests that landlords who accept Section 8 vouchers could potentially receive higher rents than the average market rate, making it an attractive option for property owners in this ZIP code.
The data signature for ZIP 04937 indicates a stable environment. The consistent median income and home values suggest that the local economy is steady, and there is little indication of rapid change or transition. However, the increasing gap between FMR and market rent might signal a gradual shift towards higher rental costs, which could be beneficial for landlords but may also indicate rising living expenses for residents. Overall, the trend leans towards stability rather than significant transformation.
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.