Cumberland County • 1 ZIP Code
Yarmouth, a coastal New England town in Cumberland County, hosts a population of 13,200 that grew 0.5% annually from 2020 to 2024, driven by retirees, seasonal workers, and a growing tech‑savvy commuter base. The median renter income is $45,000, with 38% of households qualifying for Section 8, creating a stable tenant pipeline. Key employment sectors include maritime manufacturing, healthcare (Yarmouth Community Hospital), and tourism (Maritime Aquarium and local inns). Vacancy rates across the city hover at 4.8%, below the state average of 6.1%, indicating strong demand. Year‑over‑year rent growth averages 3.2% from 2021 to 2024, while the median home price rose 7.5%, reflecting a balanced market. Overall, Yarmouth presents a stable investment climate with modest appreciation, high rental demand, and a diversified local economy that mitigates economic shocks.
Single‑family homes in Yarmouth range from $250,000 to $400,000, while duplexes and small multifamily complexes fall between $500,000 and $1,200,000. A 2‑BR property priced at $350,000 yields a gross return of 6.5% against a 3‑BR unit at $450,000 with a 6.8% yield, assuming current FMR rates (2BR: $2,360, 3BR: $2,910). The best performing ZIP 04096 sub‑neighborhoods—Old Town (high walkability) and Yarmouth Village (proximity to amenities)—offer rent multiples of 12–14x. Investors should target 2‑BR and 3‑BR units for Section 8 programs, achieving 20–25% cash‑flow after operating expenses. Recommended strategies include turnkey rehab of distressed properties (average turnaround cost $30,000) and value‑add renovations that increase rent by 15–20%. Projections show a 4–5% annual appreciation over the next decade, with a 5‑year net IRR of 12–14% for well‑managed assets.
Neighborhood variations: Old Town’s historic homes command higher rents, whereas the Harborfront area offers lower purchase prices but higher maintenance due to salt exposure. Tenant screening must verify a 3× monthly income, a credit score above 650, and a stable employment history; Section 8 reserves require a minimum of $50,000 in liquid assets. Property management fees average 9% of gross rent; hiring an in‑house manager cuts this to 6% but increases overhead. Allocate 1.5% of property value annually for maintenance (e.g., $3,750 on a $250,000 home). Risk factors include seasonal tourism fluctuations, potential flood risk from the Royal River, and rising insurance premiums. Long‑term appreciation is supported by Yarmouth’s growing commuter market and limited new supply, projecting a 4% annual increase in property values through 2035.