ZIP 04294 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 04294 in the Franklin County, ME FMR area.

$880Efficiency
$9601 bedroom
$1,2602 bedrooms
$1,7403 bedrooms
$2,1104 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$880$792$968$880
1 bedroom$960$864$1,056$966
2 bedrooms$1,260$1,134$1,386$1,264
3 bedrooms$1,740$1,566$1,914$1,750
4 bedrooms$2,110$1,899$2,321$2,113

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

Income in ZIP 04294

$62,220average adjusted gross income per tax return (2022)
$45,374average salaries and wages per return
1,670tax returns filed
24%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00028.1%
$25,000 to $50,00026.3%
$50,000 to $75,00017.4%
$75,000 to $100,00011.4%
$100,000 to $200,00013.2%
$200,000 or more3.6%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 15.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 04294?

HUD's FY2027 Small Area FMRs for ZIP 04294 (Franklin County, ME) are $880 efficiency, $960 one bedroom, $1,260 two bedrooms, $1,740 three and $2,110 four bedrooms.

What payment standard can a housing authority set in ZIP 04294?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,134 to $1,386.

How affordable is rent in ZIP 04294?

Tax returns filed from ZIP 04294 reported an average adjusted gross income of $62,220 (2022). A two-bedroom unit at the Small Area FMR costs $15,120 a year, or 24% of that income.