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FY 2023 Fair Market Rent Documentation System

Final FY 2023 FMRs By Unit Bedrooms
Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
$891 $896 $1,142 $1,390 $1,694

Knox town is part of Waldo County, ME, which consists of the following towns: Belfast city, ME; Belmont town, ME; Brooks town, ME; Burnham town, ME; Frankfort town, ME; Freedom town, ME; Islesboro town, ME; Jackson town, ME; Knox town, ME; Liberty town, ME; Lincolnville town, ME; Monroe town, ME; Montville town, ME; Morrill town, ME; Northport town, ME; Palermo town, ME; Prospect town, ME; Searsmont town, ME; Searsport town, ME; Stockton Springs town, ME; Swanville town, ME; Thorndike town, ME; Troy town, ME; Unity town, ME; Waldo town, ME; and Winterport town, ME. All information here applies to the entirety of Waldo County, ME.

The FY 2023 Fair Market Rents for Waldo County, ME are based on the results of a local rent survey conducted in January, 2021.

The locally conducted survey is more current than the available ACS data. Therefore HUD calculates the locally based survey 2-bedroom FMR using the following steps:

  1. The local survey is adjusted to 2021 dollars by multiplying the survey rent value for 2021 by the annual CPI-based Gross Rent value for 2021 divided by the CPI-based Gross Rent value for January, 2021. This calculation is:

    $997 * (258.838/262.2) =

    $984

  2. The annually adjusted survey value of $984 is augmented by the growth in gross rents from the Northeast Census region measured between 2021 and 2022. This calculation is:

    $984 * 1.0390   =

    $1,023

  3. The CPI adjusted survey value of $1,023 is trended forward to the mid-point of FY2023 using the Northeast Census region trend factor of 1.1165. This calculation is:

    $1,023 * 1.1165   =

    $1,142

Permanent link to this page: http://www.huduser.gov/portal/datasets/fmr/fmrs/FY2023_code/2023summary.odn?&year=2023&fmrtype=Final&selection_type=county&fips=2302737585

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