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 04766, located in Tennessee, presents a unique market dynamic that is indicative of a region in flux. With a Fair Market Rent (FMR) of $1,130 for the fiscal year 2026, it's clear that rental pricing is a key consideration for both tenants and landlords alike. The fact that specific market rent data is currently unavailable suggests an area that is either underdeveloped or experiencing rapid changes that have yet to be fully captured by standard metrics.
Absent data on the percentage of listings that require a price cut and the days on market (DOM), it's difficult to pinpoint whether supply outpaces demand or vice versa. However, the lack of these figures can imply a stable market, where neither extreme surplus nor shortage of properties is evident. This stability could be due to the local economy, population growth rates, or other factors that maintain a balance between supply and demand.
The 7.5% renter share is noteworthy. It indicates that a relatively small portion of the population in ZIP 04766 opts for renting over homeownership. This low renter share might suggest a long-term trend towards homeownership, which could put upward pressure on home values and rents as the number of available rental units remains limited. Landlords and small-portfolio investors should consider the potential for increased rental demand as the population grows or changes, which could lead to higher rents if the number of rental units does not increase correspondingly.
In summary, ZIP 04766 appears to be a market characterized by stability and a slight inclination towards homeownership. For investors, this means that while the current rental market may not be highly competitive, there is a latent potential for growth in rental demand, which could benefit those who invest in rental properties now. The dynamics of the market suggest careful attention to local economic indicators and population trends to anticipate shifts in demand and supply.
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.