Location: Aroostook County, ME | Metro: Aroostook County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The ZIP code 04735 in Tennessee presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, with the market rent at $759 being notably lower than the Fair Market Rent (FMR) of $1,090 for fiscal year 2026 in the metro area. This discrepancy can lead to higher turnover rates as tenants might seek more affordable housing options outside of subsidized programs.
Vacancy exposure is another issue. The lack of available data on the average days on market (DOM) suggests that there may be inconsistencies in how quickly properties can be rented out, which could result in periods of vacancy. Given the median income of $64,750, the financial stability of potential tenants is uncertain, potentially leading to deferred maintenance issues if residents cannot afford necessary repairs beyond basic living expenses.
However, these risks must be weighed against the high renter share of 16.7%. High renter density often translates into a greater demand for rental properties, including those accepting Section 8 vouchers. This increased demand can mitigate some of the risks associated with vacancy and turnover, as it ensures a steady pool of potential tenants.
In conclusion, the verdict for ZIP 04735 is moderate risk for a first-time Section 8 landlord. While there are notable risks related to tenant turnover and vacancy exposure, the high renter density provides a buffer against these challenges.
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.