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

Sherman Station, ME 04777'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 04777 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 $756 to a high of $924, with an average of $840.
One-bedroom: One-bedroom rental prices vary, with a minimum of $810, a maximum of $990, and an average of $900.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,062, peaking at a maximum of $1,298, and averaging at $1,180.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,323, a maximum of $1,617, and an average of $1,470.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,485 to a maximum of $1,815, with an average of $1,650.

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 Sherman Station, ME 4777 Low Rent (90%) $756 $810 $1,062 $1,323 $1,485
Average Rent $840 $900 $1,180 $1,470 $1,650
High Rent(110%) $924 $990 $1,298 $1,617 $1,815
2023 Sherman Station, ME 4777 Low Rent (90%) $720 $747 $981 $1,233 $1,314
Average Rent $800 $830 $1,090 $1,370 $1,460
High Rent (110%) $880 $913 $1,199 $1,507 $1,606
2022 Sherman Station, ME 4777 Low Rent (90%) $648 $702 $927 $1,152 $1,260
Average Rent $720 $780 $1,030 $1,280 $1,400
High Rent(110%) $792 $858 $1,133 $1,408 $1,540
2021 Sherman Station, ME 4777 Low Rent (90%) $639 $657 $864 $1,071 $1,170
Average Rent $710 $730 $960 $1,190 $1,300
High Rent (110%) $781 $803 $1,056 $1,309 $1,430
2020 Sherman Station, ME 4777 Low Rent (90%) $702 $702 $927 $1,161 $1,251
Average Rent $780 $780 $1,030 $1,290 $1,390
High Rent(110%) $858 $858 $1,133 $1,419 $1,529
2019 Sherman Station, ME 4777 Low Rent (90%) $774 $774 $1,026 $1,287 $1,386
Average Rent $860 $860 $1,140 $1,430 $1,540
High Rent (110%) $946 $946 $1,254 $1,573 $1,694


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