Location: Cumberland County, ME | Metro: Cumberland County, ME (part) HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,340 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,820 |
| 5 Bedrooms | $3,271 |
| 6 Bedrooms | $3,664 |
| 7 Bedrooms | $3,957 |
| 8 Bedrooms | $4,155 |
U.S. Census Bureau data (2024)
The classification of ZIP code 04057, located in Maine, hinges on the available data points concerning yield and stability. The Fair Market Rent (FMR) for ZIP 04057 in fiscal year 2024 is set at $1340. This figure represents the average monthly rent that a tenant can expect to pay under the Section 8 program, which is a direct indicator of potential rental income.
However, the lack of data regarding the local market rents and home values introduces uncertainty into the yield assessment. Typically, if the FMR is significantly higher than the market rent, it would suggest a high-yield opportunity. Conversely, if the FMR is lower, it might indicate a less profitable area. Unfortunately, without these comparative figures, a precise yield evaluation cannot be made.
Moving onto stability, the data reveals that there are currently 0.0% renters in the ZIP code participating in the Section 8 program. This low percentage suggests a stable environment for landlords who are not reliant on Section 8 subsidies, as it implies a smaller portion of the rental market is subject to the constraints and administrative processes associated with the program.
The absence of data for days-on-market (DOM) and median household income further complicates a comprehensive stability analysis. Generally, a lower DOM indicates quicker property turnover, which could signal either a hot market or a less desirable property. Median income levels provide insight into the financial health of potential tenants, but without this information, it's challenging to gauge the economic stability of the area.
In summary, ZIP 04057 appears to offer a moderate level of yield, given the FMR of $1340, but the lack of comparative market data makes this assessment incomplete. Stability seems high due to the negligible presence of Section 8 participants, but without additional economic indicators, a definitive conclusion cannot be drawn. This ZIP code leans towards being a steady-cashflow zone for landlords, particularly those who do not participate in the Section 8 program, though more data would refine this classification.
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.