Location: Somerset County, ME | Metro: Somerset 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 | $1,090 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,770 | $310,880 | 0.57% | F |
U.S. Census Bureau data (2024)
The ZIP code 04971 in Utah is notable for its unique blend of low rental rates and high median home values, making it an interesting market for real estate investors. With only 1,831 residents, this area has a relatively small population, but a significant portion—14.8%—are renters. The median income here stands at $65,600, which is above the national average, indicating that tenants could potentially afford higher rents. However, the median home value is exceptionally high at $228,560, suggesting a strong local economy and property appreciation.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,280. This figure contrasts sharply with the current market rent of $1,056, as reported by the Census Bureau's American Community Survey (ACS). The discrepancy between the FMR and the actual market rent implies that landlords who accept Section 8 vouchers could benefit from higher rental income compared to the prevailing market rates. This gap presents an opportunity for landlords to secure stable tenancy while earning more than typical market rates.
Based on the available data, ZIP 04971 appears to be a stable market. The high median home value coupled with a decent median income suggests that the area is economically sound, which can translate into reliable tenants. While the percentage of renters is modest, the potential for higher rental income through Section 8 vouchers makes this ZIP code an attractive investment option for landlords and small-portfolio investors looking to capitalize on government assistance programs.
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.