Location: Somerset County, ME | Metro: Somerset County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The ZIP code 04975, located within Somerset County, ME, presents a unique profile when compared to other ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 04975 is set at $1,230 for fiscal year 2026. This figure represents the maximum amount that a low-income family receiving federal rental assistance would pay towards their housing costs.
Notably, the market rent and home value data for ZIP 04975 are currently unavailable. However, the 0.0% renter share indicates that virtually no residents within this ZIP code rent their homes; instead, they predominantly own them. This characteristic sets ZIP 04975 apart from the typical ZIP codes in Somerset County, where there might be a higher proportion of renters.
Given the absence of market rent and home value data, it's challenging to definitively categorize 04975 as either a value pocket, a mid-tier neighborhood, or a premium sub-market. Nevertheless, the combination of a defined FMR and a nearly non-existent renter share suggests that this area is likely to be less attractive to those seeking rental properties under the Section 8 program. In contrast, areas with a high renter share and below-average home values often indicate opportunities for landlords participating in the Section 8 program, as these conditions can signal a concentration of eligible tenants.
In summary, ZIP 04975 appears to be a predominantly owner-occupied area with an established FMR but lacks the key indicators of a typical Section 8 sweet spot due to the unavailability of market rent and home value data. Landlords and small-portfolio investors should consider this context when evaluating potential investment opportunities within this ZIP code.
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.