Location: Lincoln County, ME | Metro: Lincoln County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
11.8% of the population in ZIP 04342 are renters, indicating a smaller but still significant demand for rental properties. With a $1,610 Fair Market Rent (FMR) set for metro areas in fiscal year 2026, landlords can expect this figure to guide their pricing strategies for Section 8 eligible units. The Census ACS reports a $1,194 market rent, suggesting that the actual rents paid by tenants in the area are below the FMR, which could present an opportunity for landlords to increase rents while remaining competitive. However, it's important to note that the median home value in the area is $344,070, which might influence the types of properties available for rental and the potential for appreciation in property values. Landlords should also consider the median income of $74,844 when assessing the financial stability of potential tenants and the overall economic health of the area.
The lack of data on days on market (DOM) and the percentage of price-cut shares indicates either a stable market or a data limitation that might affect the ability to gauge how quickly properties are rented out or if there's a need to adjust prices to attract tenants. Despite these unknowns, the difference between the FMR and the market rent suggests that there is room for landlords to charge closer to the FMR without alienating tenants.
In conclusion, the combination of a lower market rent compared to the FMR, a stable median home value, and a reasonable median income level makes ZIP 04342 a viable option for Section 8 investments. Landlords can leverage the FMR to ensure they are maximizing their rental income while still providing affordable housing options. The verdict: ZIP 04342 is suitable for Section 8 investments given the favorable rent-to-income ratio and stable property values.
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.