Location: York-Kittery-South Berwick, ME | Metro: York-Kittery-South Berwick, ME HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $3,330 |
| 5 Bedrooms | $3,863 |
| 6 Bedrooms | $4,327 |
| 7 Bedrooms | $4,673 |
| 8 Bedrooms | $4,907 |
U.S. Census Bureau data (2024)
The dynamics of ZIP 03910 in Ohio reveal a market that is currently at a standstill, with limited data points providing insight into its trajectory. The Fair Market Rent (FMR) for the area stands at $1840 for fiscal year 2024, indicating a stable rental environment. However, the lack of information on market rent, price-cut share, days on market (DOM), and median home value suggests that there might be insufficient activity to generate reliable trends.
The most striking figure is the 0.0% renter share, which implies that the vast majority of residents in ZIP 03910 own their homes rather than renting. This high owner-occupancy rate can signal several things about the local housing market. Firstly, it indicates a low turnover rate, as homeowners tend to stay in their properties longer than renters. Secondly, it suggests that the area may be experiencing long-term stability in terms of housing pressure, with fewer individuals seeking rental units due to the availability of homeownership opportunities.
Despite the snapshot being incomplete, the absence of significant rental activity and the stable FMR suggest that the market is not currently under severe pressure from either supply or demand. Landlords and small-portfolio investors should consider this context when evaluating investment opportunities in ZIP 03910. The lack of rental demand could mean that the area is less attractive for those looking to enter the rental market, but it also indicates a potentially less volatile environment for property values.
To better understand the market dynamics, further investigation would be necessary. This could include analyzing local economic factors, job growth, and demographic changes that might influence future trends. For now, ZIP 03910 appears to be a market with a strong bias towards homeownership, which could provide a solid foundation for long-term investments but may limit short-term gains in the rental sector.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.