Location: Oxford County, ME | Metro: Oxford County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
U.S. Census Bureau data (2024)
The market in ZIP code 04216, located in Pennsylvania, presents a dynamic scenario that is indicative of ongoing shifts in the local housing landscape. With a Fair Market Rent (FMR) set at $1,150 for fiscal year 2026, it suggests a steady demand for rental properties, particularly as this figure is established by HUD to reflect the rental market's realities. The absence of current market rent data points to either limited availability or recent changes that have yet to be fully captured, which could imply a volatile market with either increasing or decreasing rents.
The lack of data on price-cut shares and days on market (DOM) indicates that there might not be an oversupply of rental units driving down prices or elongating the time properties remain unsold or unrented. This absence, however, also means we cannot definitively conclude whether supply outpaces demand or vice versa. It is essential for landlords and small-portfolio investors to monitor these metrics closely as they become available to understand the balance between supply and demand.
A 2.8% renter share in ZIP 04216 is notably low, suggesting that homeownership is prevalent in the area. This high rate of homeownership can indicate long-term stability and a preference among residents for owning their homes over renting. However, it also implies that there might be significant housing pressure on renters, as they represent a small portion of the overall market. As the population grows or changes, this low renter share could mean increased competition for rental properties, leading to potential upward pressure on rents if the number of rental units does not increase proportionally.
In summary, while the snapshot of ZIP 04216 reveals a modest rental market with a clear focus on homeownership, the dynamics are complex and require careful observation. Landlords and investors should be attentive to emerging trends and the introduction of new rental units to gauge the future direction of this market. The current FMR of $1,150 serves as a benchmark, but understanding the underlying pressures will be crucial for navigating the rental market effectively.
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.