FY2019 Fair Market Rents — Hancock County, ME
The HUD-published Fair Market Rents for FY2019 in this area are:
Studio
$744
1BR
$777
2BR
$931
3BR
$1,170
4BR
$1,258
Hours/week at min wage
49 hrs
to afford the 2BR FMR @ $14.65/hr (ME)
YoY change (2BR)
+9%
+$77 vs FY2018
Voucher payment standard
$838–$1,024
PHAs set HCV payment at 90–110% of the 2BR FMR
Hancock 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) | $744 | $8,928 |
| 1-Bedroom | $777 | $9,324 |
| 2-Bedroom | $931 | $11,172 |
| 3-Bedroom | $1,170 | $14,040 |
| 4-Bedroom | $1,258 | $15,096 |
Recent 2-Bedroom FMR Trend
FY2017 $902 → FY2019 $931
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2019 | $744 | $777 | $931 | $1,170 | $1,258 |
| FY2018 | $631 | $696 | $854 | $1,071 | $1,163 |
| FY2017 | $630 | $715 | $902 | $1,135 | $1,243 |
View full FMR history back to FY2000 →
FY2018 Income Limits
Area Median Income (AMI): $64,300
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $13,550 | $16,460 | $20,780 | $25,100 | $29,420 | $33,740 |
| 50% AMI (Very Low) | $22,550 | $25,750 | $28,950 | $32,150 | $34,750 | $37,300 |
| 80% AMI (Low) | $36,050 | $41,200 | $46,350 | $51,450 | $55,600 | $59,700 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$11,172/yr
FMR as % of Area Median Income
17.4% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$37,240/yr
$3,103/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 | $562 | $643 | $723 | $868 | $932 |
| 60% AMI Maximum | $675 | $771 | $868 | $1,041 | $1,118 |
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 | $631 | $696 | $854 | $1,044 | $1,044 |
| Low HOME Rent | $563 | $643 | $723 | $803 | $868 |
Compare Hancock 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