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 ZIP code 04288, located within the Lewiston-Auburn, ME MSA, has a Fair Market Rent (FMR) of $1110 for the fiscal year 2024. This figure is slightly below the Lewiston-Auburn MSA's average FMR, which stands at $1268 per month for a two-bedroom unit according to HUD's FY2025 standards. The average home value in the Lewiston-Auburn MSA is $254,308. However, the specific market rent and home value for ZIP 04288 are currently not available.
Given that the FMR for ZIP 04288 is lower than the average for the Lewiston-Auburn MSA, it suggests that this area could be considered a value pocket within the broader metro region. Landlords and small-portfolio investors should note that the actual market rents in this ZIP code might be lower than the FMR, making it potentially less attractive for those seeking premium rental income.
The lack of specific data on market rent and home values for ZIP 04288 makes it challenging to draw definitive conclusions about its overall economic status compared to other ZIP codes in the Lewiston-Auburn MSA. However, the lower FMR indicates a possible affordability advantage for tenants, particularly those relying on Section 8 vouchers. The absence of data on the renter share also limits our ability to determine if there is a significant concentration of renters who might benefit from or be limited by the Section 8 program.
To make an informed decision, investors should conduct further research into the specific rental trends and property values within ZIP 04288. This will provide a clearer picture of its attractiveness as a real estate investment location within the Lewiston-Auburn MSA.
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.