The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Cape Neddick, ME 03902's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 03902 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,125 to a high of $1,375, with an average of $1,250.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,260, a maximum of $1,540, and an average of $1,400.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,629, peaking at a maximum of $1,991, and averaging at $1,810.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,142, a maximum of $2,618, and an average of $2,380.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,655 to a maximum of $3,245, with an average of $2,950.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Cape Neddick, ME 3902 Low Rent (90%) $1,125 $1,260 $1,629 $2,142 $2,655
Average Rent $1,250 $1,400 $1,810 $2,380 $2,950
High Rent(110%) $1,375 $1,540 $1,991 $2,618 $3,245
2023 Cape Neddick, ME 3902 Low Rent (90%) $1,098 $1,206 $1,566 $2,124 $2,565
Average Rent $1,220 $1,340 $1,740 $2,360 $2,850
High Rent (110%) $1,342 $1,474 $1,914 $2,596 $3,135
2022 Cape Neddick, ME 3902 Low Rent (90%) $1,026 $1,080 $1,404 $1,854 $2,322
Average Rent $1,140 $1,200 $1,560 $2,060 $2,580
High Rent(110%) $1,254 $1,320 $1,716 $2,266 $2,838
2021 Cape Neddick, ME 3902 Low Rent (90%) $1,017 $1,053 $1,377 $1,764 $2,295
Average Rent $1,130 $1,170 $1,530 $1,960 $2,550
High Rent (110%) $1,243 $1,287 $1,683 $2,156 $2,805
2020 Cape Neddick, ME 3902 Low Rent (90%) $819 $846 $1,116 $1,395 $1,962
Average Rent $910 $940 $1,240 $1,550 $2,180
High Rent(110%) $1,001 $1,034 $1,364 $1,705 $2,398
2019 Cape Neddick, ME 3902 Low Rent (90%) $837 $864 $1,143 $1,431 $2,007
Average Rent $930 $960 $1,270 $1,590 $2,230
High Rent (110%) $1,023 $1,056 $1,397 $1,749 $2,453


Discover Section 8 FMR by zip code