Location: Penobscot County, ME | Metro: Penobscot County, ME (part) HUD Metro FMR Area
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 | $1,140 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,490 | $245,690 | 0.61% | D |
| 3BR | $2,030 | $272,288 | 0.75% | D |
| 4BR | $2,090 | $309,145 | 0.68% | D |
U.S. Census Bureau data (2024)
ZIP code 04953, located in Newport, ME, stands out within Penobscot County due to its unique demographic and economic characteristics. With a total population of 3,143 residents, Newport has a relatively low percentage of renters at 27.7%, indicating a predominantly owner-occupied community. The median household income in this ZIP is $60,365, which is slightly above the national average. However, the median home value of $257,914 is notably lower compared to other coastal Maine areas, making it an attractive option for both first-time buyers and long-term residents.
The voucher economics in ZIP 04953 present a compelling opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area, set at $1,030 for fiscal year 2024, exceeds the current market rent of $893 based on Census ACS data. This discrepancy suggests that landlords participating in the Section 8 program can expect higher rental income than what the local market currently offers. The higher FMR also indicates potential for rental price increases, aligning with the trend of rising housing costs in many parts of the country.
Evaluating the overall stability of ZIP 04953, the data points towards a stable community. The low percentage of renters and the modest median home value suggest a steady demand for homeownership, which is likely supported by the moderate median income. The fact that the FMR is higher than the market rent further reinforces the stability, as it provides a buffer for landlords against potential market fluctuations. In conclusion, ZIP 04953 presents a reliable investment environment for those interested in Section 8 properties, offering a blend of affordability and financial security.
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.