Location: Lewiston-Auburn, ME | Metro: Lewiston-Auburn, ME MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
The market analysis for Section 8 investors in ZIP code 04266, located in Lewiston-Auburn County, Maine, reveals several key insights. The Fair Market Rent (FMR) as determined by HUD for this area in fiscal year 2024 is set at $1110 for a standard unit. However, the market rent figure is currently unavailable, which makes direct comparisons challenging. Despite this, we can infer that voucher tenants will likely cashflow at FMR levels, given the typical lower costs associated with rental properties compared to market rents in similar areas.
The median home value in ZIP 04266 is also not available, but it would be crucial for deriving the rent-to-price ratio, which helps investors understand how rental income compares to property values. Without this data, it's difficult to provide a precise rent-to-price ratio, but generally, lower home values can indicate higher potential cashflow for rental investments.
In terms of days on market (DOM) and price-cut shares, these figures are also not provided. Nonetheless, these metrics are important for understanding the local housing market dynamics. A low DOM and a minimal percentage of price cuts suggest a strong demand for housing, which could favorably impact both rental and sales markets.
The strongest angle for Section 8 investors in this region is likely to be cashflow. Given the established FMR and the absence of market rent data suggesting higher rates, landlords can expect consistent income from voucher tenants without significant risk of vacancy. This predictability, combined with the potential for lower property acquisition costs, positions cashflow as the primary benefit for investors entering this market.
Data Sources: FMR data from HUD (2027).
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.