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

Minot, ME 04258'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 04258 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 $828 to a high of $1,012, with an average of $920.
One-bedroom: One-bedroom rental prices vary, with a minimum of $927, a maximum of $1,133, and an average of $1,030.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,179, peaking at a maximum of $1,441, and averaging at $1,310.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,548, a maximum of $1,892, and an average of $1,720.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,755 to a maximum of $2,145, with an average of $1,950.

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 Minot, ME 4258 Low Rent (90%) $828 $927 $1,179 $1,548 $1,755
Average Rent $920 $1,030 $1,310 $1,720 $1,950
High Rent(110%) $1,012 $1,133 $1,441 $1,892 $2,145
2023 Minot, ME 4258 Low Rent (90%) $918 $1,026 $1,305 $1,719 $1,944
Average Rent $1,020 $1,140 $1,450 $1,910 $2,160
High Rent (110%) $1,122 $1,254 $1,595 $2,101 $2,376
2022 Minot, ME 4258 Low Rent (90%) $873 $945 $1,215 $1,575 $1,863
Average Rent $970 $1,050 $1,350 $1,750 $2,070
High Rent(110%) $1,067 $1,155 $1,485 $1,925 $2,277
2021 Minot, ME 4258 Low Rent (90%) $864 $927 $1,197 $1,539 $1,872
Average Rent $960 $1,030 $1,330 $1,710 $2,080
High Rent (110%) $1,056 $1,133 $1,463 $1,881 $2,288
2020 Minot, ME 4258 Low Rent (90%) $675 $720 $927 $1,170 $1,503
Average Rent $750 $800 $1,030 $1,300 $1,670
High Rent(110%) $825 $880 $1,133 $1,430 $1,837
2019 Minot, ME 4258 Low Rent (90%) $666 $711 $918 $1,152 $1,467
Average Rent $740 $790 $1,020 $1,280 $1,630
High Rent (110%) $814 $869 $1,122 $1,408 $1,793


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