Location: Waldo County, ME | Metro: Waldo County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
ZIP code 04848, located within Waldo County, ME, presents distinct characteristics when compared to the broader county metrics. The Fair Market Rent (FMR) for a 2-bedroom unit in ZIP 04848 is set at $1,200 for fiscal year 2026, which is notably lower than the county-wide FMR of $1,576 for the same unit size. This discrepancy indicates that ZIP 04848 could be considered a value pocket within the county, offering rents below the county average.
The market rent in ZIP 04848 is $938, aligning closely with the 40th percentile FMR of $940, suggesting that rental prices are consistent with the HUD's benchmarks. However, the median home value in ZIP 04848 is $423,361, which is above the county average, indicating that while rental costs are relatively low, property values are still competitive within the region. The 8.2% renter share in ZIP 04848 is also lower than the typical county figure, implying fewer residents rely on rental housing.
A divergence worth noting is the high home value combined with a below-average renter share. This combination often signals a less dense population or a preference for homeownership over renting. Despite the higher home values, the lower FMR and market rent suggest that there is potential for landlords to offer affordable housing options without significantly compromising on profitability. In summary, ZIP 04848 appears to be a value pocket within Waldo County, ME, offering landlords and small-portfolio investors an opportunity to manage properties with below-county average rents but still within a market with competitive home values.
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.