Location: Oxford County, ME | Metro: Oxford County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
U.S. Census Bureau data (2024)
The rent math for ZIP 04088 in the Oxford County, ME metro area does not favor landlords. The Fair Market Rent (FMR) for the fiscal year 2026 is set at $1,530, whereas the actual market rent, according to Census ACS data, stands at only $870. This discrepancy suggests that landlords might struggle to cover their costs if they rely solely on the market rent. The gap between the FMR and the actual rent indicates a challenging environment for those seeking to maximize rental income.
Regarding property acquisition, the median home value in ZIP 04088 is $345,134. However, due to the lack of data on days on market (DOM) and the percentage of homes that have had their prices cut, it's difficult to assess how competitive the market is for purchasing properties. Landlords should conduct further research into local real estate trends to determine if this median home value represents a fair price for investment properties.
Tenant demand is another critical factor. With a total population of 1,269, the renter share is 12.0%. This relatively low percentage of renters could indicate limited demand for rental properties, potentially leading to higher vacancy rates. Given the small population base, landlords must be cautious about overestimating the number of potential tenants and should consider the competition and the broader economic conditions affecting housing choices.
In summary, ZIP 04088 presents a mixed picture for landlords and small-portfolio investors. While the area may offer affordable acquisition opportunities with a median home value of $345,134, the significant disparity between the FMR and market rent, along with the modest renter share, points to a challenging landscape for generating sufficient rental income. Investors should proceed with caution and thoroughly evaluate local market dynamics before committing to investments in this ZIP code.
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.