Location: Hancock County, ME | Metro: Hancock County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $2,040 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
The analysis of ZIP 04624, located in Hancock County, Maine, reveals key insights for landlords and small-portfolio investors considering the area.
The rent math does not provide a straightforward conclusion due to the lack of specific market rent data. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,500. However, without comparable local market rent figures, it's challenging to determine if this FMR aligns with what tenants can afford or what landlords should charge to remain competitive.
Regarding acquisition affordability, the data is insufficient. The median home value is listed as N/A, along with the number of days on the market (DOM) and the percentage of homes that require a price cut. These missing metrics make it difficult to assess the ease of purchasing properties in this ZIP code relative to other areas.
Tenant demand appears modest. With a total population of 225, only 8.9% of residents are renters. This suggests a limited pool of potential tenants, which could impact occupancy rates and the ability to quickly fill vacancies.
Verdict: While ZIP 04624 offers a known Fair Market Rent of $1,500, the absence of critical data points such as market rent, median home values, and real estate transaction dynamics limits a comprehensive assessment. The low renter share among the small population indicates a niche market that may struggle with maintaining consistent tenant demand. Investors should proceed cautiously, seeking additional local insights before committing to property acquisitions in this 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.