Location: Oxford County, ME | Metro: Oxford County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
U.S. Census Bureau data (2024)
The ZIP code 04231 in Maine presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant issue, with the market rent at $1,125 being notably lower than the Fair Market Rent (FMR) of $1,490 for the metro area (as of FY 2026). This discrepancy can lead to frequent changes in occupancy, increasing administrative burdens and maintenance costs.
Vacancy exposure is another concern, as the number of days on market (DOM) is not available. This lack of data makes it difficult to predict how long a property might remain vacant between tenants, potentially leading to periods of reduced cash flow. Additionally, the deferred maintenance exposure is heightened due to the median income of $63,750 and the absence of typical home value data. Landlords must be prepared to manage properties that may require substantial repairs or upgrades without the benefit of high rental income to cover such expenses.
However, these risks are tempered by the high renter share of 10.2%. High renter density typically indicates a robust demand for housing, which can translate into higher interest in Section 8 vouchers. This demand can help mitigate some of the financial risks associated with vacancy and turnover, as there is likely to be a steady pool of potential tenants.
In conclusion, the risks in ZIP 04231 for a first-time Section 8 landlord are moderate. While there are significant challenges related to tenant turnover and vacancy exposure, the strong renter demand provides a counterbalance that can support a successful investment strategy.
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.