Location: Waldo County, ME | Metro: Penobscot County, ME (part) HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 04921, located in Maine, suggests a balanced market for both homeowners and small-portfolio investors. The median home value stands at $279,034, indicating a moderate price point that aligns with the broader regional trends. Although the percentage of listings that have been reduced and the median days on market (DOM) are currently unavailable, we can infer from the median home value that there is a stable demand for properties in this area.
The Federal Market Rent (FMR) for ZIP 04921 in fiscal year 2024 is set at $1,180, which contrasts with the current market rent of $1,039 based on Census ACS data. This gap signals an opportunity for landlords and investors to gradually increase rents to match the FMR, thereby improving cash flow without risking tenant turnover due to sudden hikes. The trend towards aligning market rents with the FMR suggests a positive outlook for rental income growth over the next 12-24 months.
Long-term investors should consider the realistic appreciation thesis for ZIP 04921. Given the current median home value and the gradual increase in rental rates, it's reasonable to expect modest property value appreciation. However, the lack of recent DOM and listing reduction data means that the pace of this appreciation is uncertain. Investors should focus on maintaining properties and positioning them to attract tenants willing to pay closer to the FMR, thus enhancing the overall value proposition of their assets.
Landlords and small-portfolio investors in ZIP 04921 should leverage the current market conditions by keeping their properties well-maintained and priced competitively for both sale and rent. The potential for rental rate increases to $1,180 per month provides a clear path for improving returns. Moreover, the stability implied by the median home value supports a conservative approach to pricing, ensuring that properties remain attractive to buyers and renters alike.
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.