Location: Oxford County, ME | Metro: Oxford County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
ZIP code 04237 represents a small, rural neighborhood in Oxford County, Maine. With a population of just 276 residents, the area has a low rental rate of 8.2%, indicating that it is primarily owner-occupied. The median household income stands at $55,417, suggesting that while the community is modest, it is not impoverished.
The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,380, which serves as a benchmark for rental prices. However, the specific market rent for ZIP 04237 is currently unavailable, likely due to the limited number of rental properties in the area.
Given these conditions, ZIP 04237 would be more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The low percentage of renters and the small population imply a limited pool of potential tenants who qualify for Section 8 vouchers. Therefore, relying solely on voucher programs might not be financially viable. Instead, an active landlord who can manage properties and potentially renovate them to attract higher-paying tenants would find this area more appealing. Such an approach could leverage the modest but stable income levels of the residents and the FMR to create a profitable investment opportunity.
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.