ZIP 04050 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 04050 in the Portland, ME FMR area.

$2,400Efficiency
$2,7301 bedroom
$3,4402 bedrooms
$4,2403 bedrooms
$4,5204 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,400$2,160$2,640$1,639
1 bedroom$2,730$2,457$3,003$1,864
2 bedrooms$3,440$3,096$3,784$2,353
3 bedrooms$4,240$3,816$4,664$2,902
4 bedrooms$4,520$4,068$4,972$3,092

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 04050

$88,908average adjusted gross income per tax return (2022)
$38,258average salaries and wages per return
120tax returns filed
46%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00033.3%
$25,000 to $50,00016.7%
$50,000 to $75,00025.0%
$75,000 to $100,0000.0%
$100,000 to $200,00025.0%
$200,000 or more0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 0.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 04050?

HUD's FY2027 Small Area FMRs for ZIP 04050 (Portland, ME) are $2,400 efficiency, $2,730 one bedroom, $3,440 two bedrooms, $4,240 three and $4,520 four bedrooms.

What payment standard can a housing authority set in ZIP 04050?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $3,096 to $3,784.

How affordable is rent in ZIP 04050?

Tax returns filed from ZIP 04050 reported an average adjusted gross income of $88,908 (2022). A two-bedroom unit at the Small Area FMR costs $41,280 a year, or 46% of that income.