Location: Piscataquis County, ME | Metro: Piscataquis County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The ZIP code 04414 in Rhode Island presents an interesting case for real estate investment, particularly for those interested in Section 8 properties. With a Fair Market Rent (FMR) of $1,310 for the metro area in fiscal year 2026, compared to a market rent of $1,076, it indicates a higher potential rental income when utilizing Section 8 vouchers. This discrepancy suggests a high-yield environment, where landlords can benefit from the difference between the government-subsidized rent and the actual market rate.
However, the stability of this market is less robust. Only 9.7% of residents are renters, which is a relatively low figure, indicating that there might be fewer tenants seeking housing in this area. Additionally, the median household income of $69,500 is moderate and does not provide strong assurance regarding the financial health of potential tenants. The lack of data on days on market (DOM) makes it difficult to assess how quickly properties can be rented out, but the combination of low rental population and moderate income levels points towards lower stability.
In summary, ZIP 04414 leans towards being a high-yield/low-stability market. The significant gap between the FMR and the market rent supports a higher rental income, especially for Section 8 properties. However, the limited rental population and average income suggest that the market is not as stable as it could be, potentially leading to challenges in tenant retention and property turnover. Investors should carefully consider these factors before entering this market.
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.