Location: Franklin County, ME | Metro: Franklin County, ME
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 04970, located in Rangeley, ME, presents a unique real estate market scenario when analyzed through the lens of yield and stability. For yield, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070, significantly higher than the market rate of $673. This indicates that there is potential for above-average rental income in this area compared to typical market rates.
However, the median home value in ZIP 04970 stands at $483,114, which is relatively high for the region. This figure suggests that while rental yields might be attractive, the initial investment required to enter the market is substantial. According to recent data from Zillow, the average home value in 04970 has seen a slight increase of 0.4% over the past year, indicating a stable trend in home values.
Moving onto stability, the percentage of renters in ZIP 04970 is 24.1%, which is a moderate level. This implies that a significant portion of the population owns their homes, contributing to a stable community. However, the lack of data on days on market (DOM) could suggest either a well-balanced market or one where listings are less frequent, making it harder to assess turnover rates.
The median household income in ZIP 04970 is $60,882, which is lower than the national average but still provides insight into the financial health of residents. With an affordability ratio of approximately 8.3 times the median income, it suggests that the median home value is quite high relative to local incomes, potentially limiting the pool of potential buyers and renters.
Based on these figures, ZIP 04970 appears to be a market that offers a balance between yield and stability. It is not a high-yield/low-stability flip-style market due to the limited data on DOM and the moderate renter percentage. Instead, it leans towards being a steady-cashflow zone, given the stable home values and the potential for rental income above the market rate. However, the high median home value and lower median income indicate that while cash flow can be steady, the market may not offer the same rapid appreciation or flipping opportunities found in more dynamic areas.
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.