Location: Somerset County, ME | Metro: Somerset County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
Somerset County's ZIP code 04929, located in Maine, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The rationale behind this classification stems from the significant spread between the Fair Market Rent (FMR) set at $1,280 for the fiscal year 2026 and the current market rent of $1,098. This discrepancy ensures that landlords can benefit from higher rental incomes through Section 8 programs, which are guaranteed by the federal government, compared to the prevailing market rates.
The median home value in ZIP 04929 stands at $237,626, which further supports its role as a cash-flow anchor. Landlords investing in this area can secure properties at reasonable prices relative to other regions, knowing that they will be able to lease them out at above-market rates due to the Section 8 subsidies. This not only provides a steady and reliable income stream but also protects against potential market downturns where property values might decline.
While the area does not present itself as an immediate appreciation play, given the lack of data on price-cut shares and days on market (DOM), it still offers solid investment opportunities. The 17.7% renter share indicates a moderate level of demand for rental properties, suggesting that there is a consistent need for housing in the area. Additionally, the median income of $51,111 aligns well with the rental prices, making it feasible for tenants to afford their housing costs, even when subsidized by Section 8.
In conclusion, ZIP 04929 is best suited as a cash-flow anchor in a Section 8 portfolio strategy. The $182 difference between the FMR and the market rent per unit, along with the stable median home value and moderate renter share, positions this ZIP code as a reliable investment choice for landlords and small-portfolio investors seeking to generate predictable income without the volatility associated with appreciation plays.
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.