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Lewiston, ME

Rent Analysis: Lewiston, ME

Updated 2026 · Based on median market data for Lewiston, ME

Cap Rate
4.18%
Median Price
$195K
Rent/Mo
$1,080
1% Rule
0.55%
Fails

Rent Overview

The median monthly rent in Lewiston, ME is $1,080, translating to $12,960 in annual gross rental income per unit. The rent-to-price ratio is 0.55% — well below the 1% rule, making pure cash flow investing challenging at median prices.

Rent Affordability

Renters in Lewiston spend approximately 34% of the local median household income ($38,400) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.

Vacancy & Tenant Demand

The vacancy rate in Lewiston is 5.8%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.1% annually provides stable demand.

Gross Rent Multiplier

Lewiston's GRM (price divided by annual rent) is 15.0x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.

Rental Income Projection

At the median rent of $1,080/mo, a single-family rental in Lewiston generates approximately $12,960 in gross annual income. After accounting for 5.8% vacancy ($752 lost), property taxes of $2,496, insurance (~$780), and maintenance (~$780), the estimated NOI is $8,152 per year, or $679/mo.

Full Lewiston Analysis →Cap Rate CalculatorBRRRR Calculator

More Lewiston Guides

Rental Property Investment GuideProperty Tax GuideCost of Living & AffordabilityAppreciation & Growth ForecastNeighborhood Investment Guide

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