Location: Oxford County, ME | Metro: Oxford County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,210 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
U.S. Census Bureau data (2024)
The market dynamics in ZIP code 04041 reveal a scenario where demand may be inching closer to supply, but not without underlying tensions. The Fair Market Rent (FMR) set at $1,760 for the fiscal year 2026 indicates an expected increase in rental values, suggesting that the current market rent of $1,070 (as per the Census ACS) is below what might soon become the norm. This gap between the FMR and the current market rent could imply that there's room for rental growth, which landlords and small-portfolio investors should monitor closely.
A median home value of $309,613 suggests a middle-class neighborhood, where homeownership remains accessible but not without financial strain. The fact that the price-cut share and days on market (DOM) are not available makes it difficult to assess the exact state of the housing market, but the relatively low market rent compared to the FMR hints at a market where demand is starting to catch up with supply, albeit slowly.
The 16.2% renter share provides insight into the long-term housing pressures. A lower renter share can mean that fewer people are renting, indicating a trend towards homeownership. However, this also implies that when renters do choose to live in this area, they face significant competition for limited rental properties, potentially driving up rental prices as seen in the disparity between the FMR and the current market rent. Landlords should take note of this figure as it reflects a steady, albeit small, pool of tenants who are likely to remain in the rental market due to various constraints such as affordability or life circumstances.
In summary, ZIP 04041 presents a market where rental values are poised to rise, driven by the anticipated increase in FMR. The median home value indicates a balance between affordability and cost, while the renter share suggests a competitive environment for renters. These factors collectively paint a picture of a market in flux, with potential opportunities for both landlords and investors to capitalize on the growing demand for rentals.
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.