Location: Somerset County, ME | Metro: Somerset County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 04944 in Somerset County, Maine, reveals several critical points for landlords and small-portfolio investors.
Regarding rent math, the comparison between the Fair Market Rent (FMR) and the market rent is inconclusive due to the lack of available data on market rent. The FMR for the metro area, as of fiscal year 2026, stands at $1,270. However, without a specific figure for market rent, it's impossible to determine if the rent math works in favor of profitability or if it aligns with what tenants are willing to pay.
On the topic of acquisition affordability, the data is also insufficient. The median home value is listed as N/A, which means there is no clear indication of how affordable it is to acquire properties in this area. Additionally, the days on market (DOM) and the percentage of homes that have had their prices cut are both unknown, making it difficult to assess the ease or difficulty of property acquisition.
Concerning tenant demand, the numbers are not promising. With a total population of just 140 individuals and a renter share of 0.0%, it is evident that there is virtually no demand for rental properties in this ZIP code. This suggests that finding tenants willing to pay the FMR of $1,270 would be extremely challenging given the low number of potential renters.
Verdict: ZIP code 04944 presents significant challenges for investment in rental properties. The lack of comprehensive data on market rent and home values hinders accurate financial planning. Most critically, the absence of a renter base makes it highly unlikely that there will be sufficient tenant demand to support a rental business. Therefore, investment in this ZIP code is not advisable for landlords or small-portfolio investors seeking a profitable venture.
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.