Bangor, ME
The Fair Market Rent for a 2-bedroom in Bangor, ME is $1,659 per month, ranking #157 out of 693 areas nationwide. The area median household income is $63,248, meaning a household spending Fair Market Rent on a 2-bedroom would pay 31.5% of income on housing. Rent in Bangor has increased 33.9% year over year. The area has a population of 154K, with 29.7% of households renting.
Bangor, Maine sits in the middle of the U.S. rental-cost distribution. HUD Fair Market Rent for a 2-bedroom is $1,659, with the full bedroom-size range covered on this page.
Rent burden is at the federal "cost-burdened" threshold: 32 percent of median income going to rent. Manageable for most households but leaves limited room for savings or unplanned expenses. For renters and prospective movers, the HUD FMR is the asking-rent baseline for a modest unit; actual market rents on freshly-listed units typically run 5-15 percent above the FMR in faster-growing markets. The county vacancy rate (14.1 percent) is the structural indicator of how much availability exists in the local market.
Fair Market Rent by Bedroom Size
Fair Market Rents (FMRs) are set annually by the U.S. Department of Housing and Urban Development and represent the 40th percentile of gross rents for standard-quality units in an area. FMRs are used to determine payment standards for the Housing Choice Voucher program and other federal housing assistance.
Housing Affordability
In Bangor, ME, a household earning the area median income of $63,248 would spend 31.5% of their gross income on a 2-bedroom at Fair Market Rent. HUD considers households spending more than 30% of income on housing to be "cost-burdened." This means many renters in this area face financial strain from housing costs.
5-Year Rent Trend
+57.0% since 20212-bedroom Fair Market Rent by fiscal year. Source: HUD FMR API.
Minimum Wage Affordability
The minimum wage in Maine is $14.65/hr. A minimum-wage worker would need to work 87.1 hours per week to afford a 2-bedroom at Fair Market Rent without exceeding 30% of income on housing. This means a single minimum-wage earner cannot afford a 2-bedroom working a standard 40-hour week. The poverty rate in Bangor is 13.5%, near the national average of approximately 12.4%.
Housing Market Context
The median home value in Bangor is $193,800. At a median income of $63,248, this represents a price-to-income ratio of 3.1x. 14.1% of housing units in the area are vacant, which is above the national average and may indicate softer demand or seasonal housing.
Other Areas in Maine
Areas With Similar Rent to Bangor
Frequently Asked Questions
The HUD Fair Market Rent for a 2-bedroom in Bangor, ME is $1,659 per month. A studio is $1,244/mo, a 1-bedroom is $1,313/mo, and a 3-bedroom is $2,133/mo. The actual median gross rent from Census data is $997/mo.
Bangor has a rent burden of 31.5%, meaning a household earning the median income of $63,248 would spend 31.5% of income on a 2-bedroom at Fair Market Rent. HUD considers spending 30%+ on housing to be cost-burdened. To afford a 2-bedroom without being cost-burdened, a household would need an annual income of at least $66,360.
Bangor's 2-bedroom Fair Market Rent of $1,659/mo is $409 above the national median of $1,250/mo. Bangor ranks #157 out of 693 areas for highest rent in the United States.
To afford a 2-bedroom at Fair Market Rent in Bangor without spending more than 30% of income on housing, you would need an annual household income of at least $66,360, or a full-time hourly wage of $32/hour. The area median income is $63,248.
The 2-bedroom Fair Market Rent in Bangor increased by 33.9% compared to the prior year. This is a significant increase, suggesting growing demand in the local housing market.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. Rent burden is calculated as annual 2BR FMR divided by area median household income. Census data (income, home value, population, vacancy) is from the ACS 5-Year estimates. Unemployment rates are from BLS Local Area Unemployment Statistics.