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

Steep Falls, ME 04085'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 04085 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 $1,026 to a high of $1,254, with an average of $1,140.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,179, a maximum of $1,441, and an average of $1,310.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,512, peaking at a maximum of $1,848, and averaging at $1,680.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,899, a maximum of $2,321, and an average of $2,110.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,214 to a maximum of $2,706, with an average of $2,460.

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 Steep Falls, ME 4085 Low Rent (90%) $1,026 $1,179 $1,512 $1,899 $2,214
Average Rent $1,140 $1,310 $1,680 $2,110 $2,460
High Rent(110%) $1,254 $1,441 $1,848 $2,321 $2,706
2023 Steep Falls, ME 4085 Low Rent (90%) $1,008 $1,170 $1,512 $1,908 $2,205
Average Rent $1,120 $1,300 $1,680 $2,120 $2,450
High Rent (110%) $1,232 $1,430 $1,848 $2,332 $2,695
2022 Steep Falls, ME 4085 Low Rent (90%) $981 $1,143 $1,476 $1,890 $2,286
Average Rent $1,090 $1,270 $1,640 $2,100 $2,540
High Rent(110%) $1,199 $1,397 $1,804 $2,310 $2,794
2021 Steep Falls, ME 4085 Low Rent (90%) $909 $1,026 $1,323 $1,710 $2,088
Average Rent $1,010 $1,140 $1,470 $1,900 $2,320
High Rent (110%) $1,111 $1,254 $1,617 $2,090 $2,552
2020 Steep Falls, ME 4085 Low Rent (90%) $828 $900 $1,170 $1,530 $1,863
Average Rent $920 $1,000 $1,300 $1,700 $2,070
High Rent(110%) $1,012 $1,100 $1,430 $1,870 $2,277
2019 Steep Falls, ME 4085 Low Rent (90%) $882 $963 $1,242 $1,638 $1,971
Average Rent $980 $1,070 $1,380 $1,820 $2,190
High Rent (110%) $1,078 $1,177 $1,518 $2,002 $2,409


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