Location: Hancock County, ME | Metro: Hancock County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,280 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
U.S. Census Bureau data (2024)
ZIP code 04675 is located in a suburban area of Maine, characterized by its low population density and predominantly homeowner occupancy. The neighborhood is home to 123 residents, with a striking statistic showing that 0.0% of these residents are renters. This indicates a community where homeownership is the norm, rather than renting. The median household income in this area is notably high at $250,001, suggesting a wealthy demographic. However, there is no data available for the median home value, which could imply a wide range of property values or a lack of recent sales data.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,660. In comparison, there is no reported market rent for ZIP 04675, possibly due to the minimal rental activity in the area. Given the absence of a robust rental market and the high median income, it's likely that any rental properties here command a premium price, potentially above the FMR if they exist at all.
Considering the profile of a hands-off voucher operator versus a hands-on value-add buyer, ZIP 04675 appears to be more suited for the latter. The scarcity of rental properties and the high-income level of the residents make it an unlikely candidate for a typical Section 8 voucher program. A hands-on approach would allow an investor to target the niche market of affordable housing for lower-income individuals in an otherwise affluent area, leveraging the high median income to justify higher rents and potentially higher returns on investment. Such an investor would need to be prepared to work closely with local authorities and tenants to ensure compliance with Section 8 guidelines and to manage the unique dynamics of a community where homeownership is nearly universal.
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.