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 | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $990 | $167,061 | 0.59% | F |
| 2BR | $1,180 | $205,237 | 0.57% | F |
| 3BR | $1,590 | $253,287 | 0.63% | D |
| 4BR | $1,640 | $287,691 | 0.57% | F |
| 5BR | $1,902 | $310,169 | 0.61% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 04976, Skowhegan, ME, does not work favorably for landlords. The Fair Market Rent (FMR) for the Somerset County, ME metro area for fiscal year 2026 is set at $1,210. However, the actual market rent based on Census ACS data stands at $886. This discrepancy indicates that landlords may struggle to cover costs and maintain profitability at the current market rates.
Acquisition in this area is relatively affordable. The median home value is $232,961, which is within reach for many small-portfolio investors. The lack of available data on days on market (DOM) and the low percentage of homes requiring price cuts (0.2%) suggest a stable housing market with limited competition among buyers. These factors make it easier for investors to acquire properties without overpaying or facing prolonged periods of vacancy.
Tenant demand in ZIP 04976 is moderate. With a total population of 10,072, and 30.8% of residents being renters, there is a consistent pool of potential tenants. However, the relatively low renter share implies that competition for rental units may be high, and landlords will need to ensure their properties meet the expectations of the local market to attract and retain tenants.
In conclusion, while the rent math in Skowhegan, ME, does not favor landlords due to the significant gap between the FMR and market rent, the area remains attractive for property acquisition. The median home value is reasonable, and the stable market conditions make it feasible for small-portfolio investors to enter the market. Tenant demand is present but competitive, necessitating quality management and maintenance to secure long-term occupancy and financial stability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.