The housing market in Maine State is thriving. The median value of a home in the state is estimated at $334,000, which is significantly less than the national median value of $338,100. In addition, the rate of appreciation for homes in Maine has been higher than the national average in the last year, with an increase of 12.10%, compared to 8.27% for homes nationally. This indicates that homeowners and potential buyers can expect steady growth in their investments over time.
The median home cost in Maine is $334,000. Home appreciation the last 10 years has been 94.1%. Home Appreciation in Maine is up 17.8%.
Average Age of Homes
- The median age of Maine real estate is 42 years old
The Rental Market in Maine
- Renters make up 21.8% of the Maine population
- 1.2% of houses and apartments in Maine, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.