York County • 1 ZIP Code
Ogunquit is a coastal town of 2,700 residents that draws a predominantly affluent, retiree‑heavy renter base, with 45% of households earning over $70,000 annually. The town’s economy is anchored by tourism, hospitality, and a growing arts sector, generating approximately 12% of local jobs. Population trends show a modest 1.2% annual increase, largely driven by retirees relocating from larger cities. Vacancy rates remain tight at 7.8%, slightly below the state average of 9.1%. Year‑over‑year rent growth averaged 5.3% from FY 2024 to FY 2026, reflecting strong demand and limited supply. Overall market stability is high: low foreclosure rates, a robust short‑term rental market, and consistent municipal investment in infrastructure. Investors find Ogunquit attractive for its blend of seasonal rental upside and long‑term appreciation potential, with average FMR rates in FY 2026 ranging from $1,870 for studios to $3,750 for four‑bedrooms.
Property price ranges that deliver strong cash flow fall between $250,000 and $500,000, with single‑family homes priced around $350,000 and multifamily duplexes near $450,000. Expected gross yields hover at 6.5% to 7.2%, driven by rent levels above the FMR (average rent 12% higher). Appreciation is moderate at 3.5% per annum, balancing steady income with capital gains. ZIP 03907, the downtown core, shows the highest rental yield at 7.8% and is ideal for 2‑BR and 3‑BR rentals. Target property types include 2‑BR and 3‑BR single‑family homes, as well as duplexes and triplexes. Turnkey acquisition of pre‑renovated units can yield a 6% cash‑on‑cash return within the first year, while a rehab strategy can boost net operating income (NOI) by 15% after a $30,000 renovation. Investors should prioritize properties with existing tenant histories and utilities already set up, reducing upfront management overhead.
Neighborhood‑level variations are pronounced: the waterfront district commands higher rents (+18% above city average) but faces stricter zoning, whereas inland residential areas offer lower acquisition costs (+25% below median). Tenant screening should include credit scores ≥650, income ≥3× rent, and rental history verification. Property management fees typically range from 8% to 10% of gross rent; investors should budget an additional 1%–2% of rent for maintenance reserves. Seasonal tourism introduces higher turnover rates (average 12 months) and the need for robust insurance covering storm damage, which can increase premiums by 12% during peak season. Long‑term appreciation in Ogunquit is projected at 4.2% annually, supported by limited land supply and sustained demand from affluent retirees. Investors must mitigate risks by diversifying property types and securing long‑lease agreements during off‑season periods.