FY2027 Small Area FMR · Waterford, ME

ZIP 04088 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 04088 (Waterford, ME) is $1,400 a month, down 8.5% from FY2026. That is 14% above the Oxford County, ME area-wide FMR of $1,224.

2-bedroom SAFMR$1,400per month ▼ 8.5%

Area-wide 2 BR FMR$1,224Oxford County, ME

Rank in the area15thof 38 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,260

2 BR Small Area FMR$1,400

110% of SAFMR$1,540

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$970▼ 7.6%

1 BR$1,090▼ 6.8%

2 BR$1,400▼ 8.5%

3 BR$1,940▼ 8.9%

4 BR$2,340▼ 8.9%

FY2027 FY2026

Where 04088 sits in the Oxford County, ME area

Of the 38 ZIP codes HUD lists for the area, 04088 has the 15th highest two-bedroom Small Area FMR. Oxford County, ME is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,224 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,400 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$970	$873 – $1,067	$852	$1,050
1 bedroom	$1,090	$981 – $1,199	$949	$1,170
2 bedrooms	$1,400	$1,260 – $1,540	$1,224	$1,530
3 bedrooms	$1,940	$1,746 – $2,134	$1,695	$2,130
4 bedrooms	$2,340	$2,106 – $2,574	$2,046	$2,570

A household renting a two-bedroom home at the Small Area FMR of $1,400 needs about $56,000 a year to keep housing costs at 30% of income. The area median family income is $81,000 and the 80% low-income limit for four people is $73,500. ZIP code 04088 lies mainly in Oxford County. See the Oxford County, ME county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
04267	North Waterford	3.5 mi	$1,400
04268	Norway	5.8 mi	$1,170
04040	Harrison	6.6 mi	$1,650
04057	North Bridgton	7.1 mi	$1,690
04051	Lovell	8.1 mi	$1,790
04231	Stoneham	8.6 mi	$1,420

Questions

What is the Fair Market Rent for ZIP code 04088?

HUD's FY2027 Small Area Fair Market Rents for 04088 are $970 (studio), $1,090 (1 BR), $1,400 (2 BR), $1,940 (3 BR) and $2,340 (4 BR) a month.

What is the Section 8 payment standard in 04088?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 04088 that range is $1,260 to $1,540 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 04088?

The FY2026 income limits of the Oxford County, ME area apply: median family income $81,000, low-income (80%) limit $73,500 for a family of four.