Location: Lincoln County, ME | Metro: Lincoln County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
U.S. Census Bureau data (2024)
The ZIP code 04558, located in Somerset County, Maine, stands out due to its unique characteristics. With only 382 residents, it has a very low population density, which is typical for rural areas in Maine. The rental market is modest, with 13.0% of residents renting their homes, indicating that homeownership is more prevalent. Despite the small rental market, the median income of $91,477 is relatively high, suggesting that the residents who do rent could potentially afford higher rents than the average for the state.
The Federal Market Rent (FMR) for ZIP 04558 is set at $1,400 for the fiscal year 2026, which is a key figure for landlords participating in the Section 8 program. However, the absence of data regarding the median market rent makes it challenging to assess how competitive this FMR is compared to actual market conditions. This lack of information could be due to the limited number of rental units in the area, leading to insufficient data points for an accurate median calculation.
In terms of voucher economics, landlords should be aware that the $1,400 FMR might not reflect the true market dynamics of ZIP 04558. Given the high median income, there is potential for tenants to contribute a larger share towards their housing costs, reducing the reliance on the voucher amount. For small-portfolio investors, this could mean a more stable cash flow since tenants with higher incomes are generally less likely to default on payments.
The data signature for ZIP 04558 reads as "stable." The high median income supports a consistent economic base, which can translate into reliable tenant payments. Although the rental market is small, the overall stability of the area suggests that landlords can expect steady returns from their investments. However, the absence of median home value data means that long-term appreciation trends cannot be fully assessed, leaving some uncertainty about future 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.