Location: Lewiston-Auburn, ME | Metro: Lewiston-Auburn, ME MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,280 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,770 | $296,691 | 0.6% | F |
| 3BR | $2,240 | $356,676 | 0.63% | D |
| 4BR | $2,590 | $400,117 | 0.65% | D |
U.S. Census Bureau data (2024)
The rent math for ZIP 04236 in Greene, ME, within the Lewiston-Auburn, ME MSA metro area, is favorable but requires careful consideration. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,200, which slightly exceeds the market rent reported by the Census ACS at $1,194. This indicates that landlords can potentially charge a rent rate that aligns closely with the FMR without significantly overpricing their units.
Regarding acquisition affordability, the median home value in ZIP 04236 is $340,820. While this figure is stable, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests limited volatility in the housing market. This stability can be beneficial for investors looking to acquire properties at consistent values.
Tenant demand in ZIP 04236 is moderate. With a total population of 4,417, the renter share stands at 12.2%. This implies that approximately 540 residents are potential renters, a number that can support a modest rental portfolio but may limit large-scale investments.
In summary, the rent math in ZIP 04236 works well for small-scale investments, with the FMR being only marginally higher than the market rent. Acquisition costs are reasonable, though the absence of detailed DOM and price cut data means some caution is warranted. Tenant demand is present but limited, favoring smaller portfolios. Landlords and small-portfolio investors should find the area suitable for investment, given these conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.