FY2019 Fair Market Rents — Franklin County, ME
The HUD-published Fair Market Rents for FY2019 in this area are:
Studio
$608
1BR
$650
2BR
$744
3BR
$985
4BR
$1,006
Hours/week at min wage
40 hrs
to afford the 2BR FMR @ $14.65/hr (ME)
YoY change (2BR)
+6.7%
+$47 vs FY2018
Voucher payment standard
$670–$818
PHAs set HCV payment at 90–110% of the 2BR FMR
Franklin County, ME
Non-Metropolitan area · ME · View full history · Income limits · LIHTC rents
FY2019 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $608 | $7,296 |
| 1-Bedroom | $650 | $7,800 |
| 2-Bedroom | $744 | $8,928 |
| 3-Bedroom | $985 | $11,820 |
| 4-Bedroom | $1,006 | $12,072 |
Recent 2-Bedroom FMR Trend
FY2017 $687 → FY2019 $744
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2019 | $608 | $650 | $744 | $985 | $1,006 |
| FY2018 | $559 | $597 | $697 | $883 | $949 |
| FY2017 | $545 | $581 | $687 | $859 | $947 |
View full FMR history back to FY2000 →
FY2018 Income Limits
Area Median Income (AMI): $55,200
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $12,650 | $16,460 | $20,780 | $25,100 | $29,420 | $33,740 |
| 50% AMI (Very Low) | $21,100 | $24,100 | $27,100 | $30,100 | $32,550 | $34,950 |
| 80% AMI (Low) | $33,750 | $38,550 | $43,350 | $48,150 | $52,050 | $55,900 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$8,928/yr
FMR as % of Area Median Income
16.2% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$29,760/yr
$2,480/mo gross income
FY2018 LIHTC Maximum Rents
Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →
| AMI Band | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| 50% AMI Maximum | $483 | $552 | $621 | $745 | $800 |
| 60% AMI Maximum | $579 | $662 | $745 | $894 | $960 |
FY2018 HOME Program Rent Limits
Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $559 | $597 | $697 | $883 | $897 |
| Low HOME Rent | $527 | $602 | $677 | $752 | $813 |
Compare Franklin County, ME With Other ME Metros
vs. Bangor, ME HUD Metro FMR Area
vs. Cumberland County, ME (part) HUD Metro FMR Area
vs. Lewiston-Auburn, ME MSA
vs. Penobscot County, ME (part) HUD Metro FMR Area
vs. Portland, ME HUD Metro FMR Area