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 04442 is located in a rural part of Washington County, Maine, not Rhode Island. To clarify, this area is characterized by a small, tight-knit community with a total population of 208 residents. Notably, there are no reported renters in this ZIP code, indicating it is almost entirely composed of homeowners. The median household income in this region stands at $73,750, reflecting a modest but stable economic environment.
Despite the lack of renters, the area's connection to the broader metro region provides some insight into potential rental economics. The Fair Market Rent (FMR) for the metro area, which includes ZIP 04442, is set at $1,420 per month for fiscal year 2026. However, the specific market rent for this ZIP code is not available, suggesting either limited rental activity or insufficient data to establish a benchmark. Given the absence of reported renters, it's reasonable to infer that the local rental market is underdeveloped or non-existent.
In terms of suitability for Section 8 investment strategies, ZIP 04442 presents unique challenges. For a hands-off voucher operator, the lack of rental units and the predominantly owner-occupied housing stock make this an unsuitable location. There are no existing properties to leverage for a passive rental income strategy through Section 8 vouchers. Conversely, for a hands-on value-add buyer looking to develop rental properties, the area offers a niche opportunity. With no competition in the rental market and a steady median income, converting homes into rental units could be a viable strategy. However, such an approach would require significant effort and possibly capital investment to develop the first rental units in the area.
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.