Location: York County, ME | Metro: York County, ME (part) HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
U.S. Census Bureau data (2024)
The ZIP code 04095 presents a market in motion, characterized by specific dynamics that reveal underlying trends. The Fair Market Rent (FMR) for ZIP 04095 stands at $1360 for fiscal year 2024, indicating a stable rental environment. However, the absence of recent market rent data suggests that there might be limited current activity in the rental sector, which could point towards either a quiet market or a lack of comprehensive reporting.
The median home value of $386,833 provides a benchmark for property values within the area. This figure is indicative of the overall cost of homeownership but does not directly inform us about the balance between supply and demand in the rental market. The missing percentage for price-cut share and days on market (DOM) further obscure the immediate supply-demand relationship, leaving room for inference based on other available metrics.
A critical insight comes from the 3.6% renter share statistic. This relatively low percentage of renters compared to homeowners implies that the long-term housing pressure in ZIP 04095 leans towards a preference for homeownership over renting. In such a market, the demand for rental properties might be less pronounced, suggesting that supply could potentially outpace demand if the number of rental units exceeds what the local population requires. However, this is not conclusive without knowing the total number of rental units versus the number of homes for sale.
The dynamics of ZIP 04095 suggest a market where homeownership is favored, possibly due to economic conditions that make owning a home more attractive than renting. This preference can lead to a scenario where landlords and small-portfolio investors must be strategic in their approach to ensure steady occupancy rates. Given the stable FMR and the unknowns around current market rents and DOM, it's crucial for investors to closely monitor any changes in these metrics as they emerge, to understand shifts in the market.
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.