Location: Aroostook County, ME | Metro: Aroostook County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The ZIP code 04764 in Tennessee presents several challenges for landlords considering Section 8 investments. Tenant turnover could be a significant issue, especially when comparing the market rent to the Federal Market Rent (FMR) of $1,430 set for FY 2026. The lack of data on market rent makes it difficult to assess how competitive the FMR will be, potentially leading to higher turnover rates if tenants find more affordable options elsewhere.
Vacancy exposure is another concern due to the absence of data on days on market (DOM). Without this information, it's unclear how quickly properties can be rented out, which could result in extended periods without rental income. This uncertainty is compounded by the lack of data on typical home values and median incomes, making it hard to gauge the financial health of potential tenants and the overall demand for housing in the area.
Despite these risks, there are compelling reasons to consider investing in this ZIP code. With a 63.4% renter share, the population has a high density of renters, which typically translates into robust demand for rental properties. This strong rental market often correlates with a higher number of Section 8 voucher holders looking for housing, providing a steady stream of potential tenants who can afford their rents through government assistance.
In conclusion, the risks associated with tenant turnover, vacancy exposure, and deferred maintenance are considerable, but the high renter share suggests that there will be a consistent demand for rental units. Therefore, the risk for a first-time Section 8 landlord in ZIP 04764 is moderate.
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.