Location: Waldo County, ME | Metro: Waldo County, ME
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,110 | $253,789 | 0.44% | F |
| 2BR | $1,320 | $314,752 | 0.42% | F |
| 3BR | $1,710 | $397,443 | 0.43% | F |
| 4BR | $1,910 | $499,635 | 0.38% | F |
| 5BR | $2,216 | $658,991 | 0.34% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 04915 (Belfast, ME) hinges on its financial metrics, particularly focusing on yield and stability. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,460, which is significantly higher than the local market rent of $972. This suggests a potential opportunity for landlords and small-portfolio investors to capitalize on the difference, indicating a relatively high-yield market.
However, the stability of the market is another critical factor. With 27.1% of residents being renters, the rental market has a moderate level of demand. Unfortunately, the data lacks information on the average number of days a property sits on the market (DOM), which would provide insight into how quickly units can be rented out. The median household income in the area is $66,362, which is below the national average but still provides a reasonable basis for tenants to afford rent payments.
The median home value of $366,424 offers a comparison point for investment properties. While this figure is not directly related to rental yields, it does indicate the overall real estate value in the area, which could affect property appreciation and long-term investment value.
Given these metrics, ZIP 04915 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The significant gap between the FMR and the local market rent suggests that there is room to increase rents, potentially boosting yields. However, the lack of data on DOM and the lower-than-average median income imply that while cash flow might be steady, it may not be exceptionally robust due to the risk of vacancies and the ability of tenants to pay increased rents.
To summarize, while Belfast, ME, presents opportunities for landlords and small-portfolio investors to achieve good yields, the market's stability is somewhat compromised by the limited data on rental speed and the lower median income. Therefore, it is best classified as a zone offering steady but not exceptionally high cash flow, suitable for those seeking a balanced approach to real estate investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.