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

Waterboro, ME 04087'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 04087 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 $1,143 to a high of $1,397, with an average of $1,270.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,242, a maximum of $1,518, and an average of $1,380.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,548, peaking at a maximum of $1,892, and averaging at $1,720.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,025, a maximum of $2,475, and an average of $2,250.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,223 to a maximum of $2,717, with an average of $2,470.

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 Waterboro, ME 4087 Low Rent (90%) $1,143 $1,242 $1,548 $2,025 $2,223
Average Rent $1,270 $1,380 $1,720 $2,250 $2,470
High Rent(110%) $1,397 $1,518 $1,892 $2,475 $2,717
2023 Waterboro, ME 4087 Low Rent (90%) $1,269 $1,341 $1,665 $2,160 $2,439
Average Rent $1,410 $1,490 $1,850 $2,400 $2,710
High Rent (110%) $1,551 $1,639 $2,035 $2,640 $2,981
2022 Waterboro, ME 4087 Low Rent (90%) $1,170 $1,170 $1,476 $1,899 $2,169
Average Rent $1,300 $1,300 $1,640 $2,110 $2,410
High Rent(110%) $1,430 $1,430 $1,804 $2,321 $2,651
2021 Waterboro, ME 4087 Low Rent (90%) $936 $945 $1,197 $1,494 $1,755
Average Rent $1,040 $1,050 $1,330 $1,660 $1,950
High Rent (110%) $1,144 $1,155 $1,463 $1,826 $2,145
2020 Waterboro, ME 4087 Low Rent (90%) $810 $846 $1,062 $1,332 $1,530
Average Rent $900 $940 $1,180 $1,480 $1,700
High Rent(110%) $990 $1,034 $1,298 $1,628 $1,870
2019 Waterboro, ME 4087 Low Rent (90%) $756 $810 $999 $1,260 $1,422
Average Rent $840 $900 $1,110 $1,400 $1,580
High Rent (110%) $924 $990 $1,221 $1,540 $1,738


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