Location: Oxford County, ME | Metro: Oxford County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The ZIP code 04290 in Pennsylvania stands out due to its unique demographic and economic characteristics. With only 1,501 residents, it has a low population density, which translates to a relatively small rental market. Currently, 9.8% of the residents rent their homes, indicating that the majority of the population owns property. The median income for the area is $66,827, reflecting a middle-class community, while the median home value is significantly higher at $233,184, suggesting that homeownership is both valued and attainable.
Moving to the specifics of the Section 8 voucher program, the Fair Market Rent (FMR) for ZIP 04290 is set at $1,210 for the fiscal year 2026. This figure is notably higher than the actual market rent, which is recorded at $723 according to the Census ACS. Landlords who participate in the Section 8 program can expect to receive a higher rent payment compared to the local market rate, which could be beneficial in covering maintenance costs and ensuring profitability.
The data signature for ZIP 04290 suggests a stable environment. The relatively high median home value and median income indicate financial stability among homeowners, while the discrepancy between the FMR and the actual market rent presents an opportunity for landlords participating in the Section 8 program. However, the low percentage of renters might also imply limited demand for rental properties, including those supported by vouchers. This stability contrasts with transitional areas where there might be more fluctuation in housing demand and supply.
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.