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

Cape Elizabeth, ME 04107'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 04107 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 $1,476 to a high of $1,804, with an average of $1,640.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,692, a maximum of $2,068, and an average of $1,880.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,178, peaking at a maximum of $2,662, and averaging at $2,420.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,709, a maximum of $3,311, and an average of $3,010.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,069 to a maximum of $3,751, with an average of $3,410.

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 Elizabeth, ME 4107 Low Rent (90%) $1,476 $1,692 $2,178 $2,709 $3,069
Average Rent $1,640 $1,880 $2,420 $3,010 $3,410
High Rent(110%) $1,804 $2,068 $2,662 $3,311 $3,751
2023 Cape Elizabeth, ME 4107 Low Rent (90%) $1,206 $1,404 $1,800 $2,268 $2,646
Average Rent $1,340 $1,560 $2,000 $2,520 $2,940
High Rent (110%) $1,474 $1,716 $2,200 $2,772 $3,234
2022 Cape Elizabeth, ME 4107 Low Rent (90%) $1,134 $1,323 $1,710 $2,178 $2,673
Average Rent $1,260 $1,470 $1,900 $2,420 $2,970
High Rent(110%) $1,386 $1,617 $2,090 $2,662 $3,267
2021 Cape Elizabeth, ME 4107 Low Rent (90%) $1,017 $1,143 $1,485 $1,926 $2,349
Average Rent $1,130 $1,270 $1,650 $2,140 $2,610
High Rent (110%) $1,243 $1,397 $1,815 $2,354 $2,871
2020 Cape Elizabeth, ME 4107 Low Rent (90%) $963 $1,053 $1,368 $1,791 $2,178
Average Rent $1,070 $1,170 $1,520 $1,990 $2,420
High Rent(110%) $1,177 $1,287 $1,672 $2,189 $2,662
2019 Cape Elizabeth, ME 4107 Low Rent (90%) $891 $963 $1,251 $1,647 $1,980
Average Rent $990 $1,070 $1,390 $1,830 $2,200
High Rent (110%) $1,089 $1,177 $1,529 $2,013 $2,420


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