Location: Franklin County, ME | Metro: Franklin County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
U.S. Census Bureau data (2024)
The market in ZIP code 04966 (, UT) is dynamic, characterized by a clear distinction between federally mandated Fair Market Rents (FMRs) and actual market rents. The FMR for the area is set at $1,170 for fiscal year 2026, which is significantly higher than the reported market rent of $475. This discrepancy suggests that the federal guidelines may be out of sync with local realities, possibly due to regional economic conditions or localized housing pressures.
The median home value stands at $208,832, indicating a relatively affordable market for homeownership. However, the 16.3% renter share points to a segment of the population that finds homeownership less accessible or desirable. A persistent renter share can be indicative of long-term housing pressures, suggesting that a substantial portion of residents might be facing financial constraints that prevent them from buying homes, or they prefer renting due to lifestyle choices or job mobility.
Despite the lack of specific time-series data, the snapshot reveals that the rental market is likely under some form of pressure, given the disparity between FMR and market rent. Landlords and small-portfolio investors should consider these factors when evaluating their investment strategies. An overhang of rental demand relative to supply could mean steady occupancy rates but also implies a need for competitive pricing and amenities to attract tenants.
In conclusion, while the exact trajectory of supply versus demand cannot be determined from this snapshot alone, the high FMR compared to the lower market rent and the significant renter share suggest a market where housing pressures are present, potentially favoring the rental sector over homeownership for many residents. Investors should remain vigilant to local economic changes and tenant preferences to navigate this market effectively.
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.