York County • 1 ZIP Code
Maplewood’s 5,200 population is aging with a 0.5% annual decline, yet a stable 12% workforce in healthcare, 9% education, and 7% small manufacturing keeps demand robust. The median household income is $48,500, with 58% of renters qualifying for Section 8. Vacancy sits at 4.5%, below the New England average of 6.2%, indicating a tight rental market. Year‑over‑year rent growth averaged 3.2% in FY 2026, driven by the 4% increase in FMR rates: Studio $1,290, 1BR $1,420, 2BR $1,730, 3BR $2,310, 4BR $2,580. The city’s well‑connected highways and proximity to the regional hospital create a stable investment climate, with low foreclosure rates (0.3%) and a 12‑month rental turnover median. Overall, Maplewood presents a balanced mix of modest appreciation (3–4% annually) and reliable cash flow, making it an attractive entry point for Section 8 investors seeking long‑term stability.
Property values in Maplewood range from $190,000 for single‑family homes to $380,000–$520,000 for 2‑to‑4 unit multifamily buildings. Expected gross yields hover around 6.5%, translating to a net yield of 4.2% after 8% management fees and 1% maintenance reserve. The 04095 ZIP, encompassing the downtown core, delivers the highest unit economics, with 2BR units fetching $1,730 FMR and 3BR units $2,310. Target assets: 2BR multifamily dwellings or 3BR single‑family homes, as they offer the best cash‑flow/price balance. Strategies that perform well include turnkey acquisitions with a 10% rehab buffer and “fix‑and‑lease” projects that leverage Section 8’s higher rent caps. A 5‑year hold period can capture both the $200‑$300 per unit appreciation and the cumulative net cash flow of $25–$30 per unit per year.
Neighborhoods such as the historic downtown, the university corridor, and the waterfront edge show varying income levels; investors should screen tenants for a 3‑month income threshold of at least 3× the rent. Management costs average 8% of gross rent, while an annual maintenance budget of 1% of property value (≈$3,800 for a $380,000 unit) covers routine repairs. Flood risk is minimal outside the river corridor, but aging infrastructure in older homes may lead to HVAC or roof replacements every 15–20 years. Long‑term appreciation is projected at 3–4% annually, with a potential 12% upside if the city expands its healthcare facilities. Diversifying across ZIP codes within Maplewood mitigates localized risk and smooths cash flow.