Location: Kennebec County, ME | Metro: Kennebec County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,460 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $3,030 |
| 5 Bedrooms | $3,515 |
| 6 Bedrooms | $3,937 |
| 7 Bedrooms | $4,252 |
| 8 Bedrooms | $4,465 |
U.S. Census Bureau data (2024)
The ZIP code 04349 represents a small, rural neighborhood in Maine with a total population of 1,383 residents. Only 11.3% of these residents are renters, indicating a primarily owner-occupied community. The median household income in this area stands at $59,500, which reflects a modest economic base. Meanwhile, the median home value is notably higher at $351,082, suggesting that homeownership is relatively expensive compared to the average income level.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 04349 is set at $2,020 for the fiscal year 2026, according to the metro area standards. However, the actual market rent is significantly lower at $983, based on Census ACS data. This discrepancy between FMR and market rent indicates a potential opportunity for landlords who can leverage the higher voucher rates to achieve better returns on their investments.
Given the characteristics of ZIP 04349, it would be well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent means they can collect rents closer to the voucher rate without extensive property management. On the other hand, value-add buyers could improve properties and still benefit from the higher voucher payments, making this area attractive for both types of investors.
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.