Bangor appreciation rates and housing market information

Bangor housing market information

With a population of 31,473, 14,587 total housing units (homes and apartments), and a median house value of $178,830, Bangor real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Bangor, accounting for 39.16% of the city's housing units. Other types of housing that are prevalent in Bangor include duplexes, homes converted to apartments, or other small apartment buildings (28.33%), large apartment complexes or high rise apartments (21.24%), mobile homes or trailers (6.93%), and a few row houses and other attached homes (4.30%).

People in Bangor primarily live in small (one, two, or no bedroom) single-family detached homes. Bangor has a mixture of owner-occupied and renter-occupied housing.

The housing in Bangor was primarily built before 1939 (44.98%), making the housing stock in Bangor some of the older overall in America, although there is a range of ages of homes in Bangor. The next most important Bangor housing age is 1970-1994 (27.08%), followed by 1940-1969 (25.74%). There's also some housing in Bangor built between 1995 and later (2.20%).

Bangor home appreciation rates

Real estate appreciation rates in Bangor have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.07% during the period.

Over the last year, Bangor appreciation rates have trailed the rest of the nation. In the last twelve months, Bangor's appreciation rate has been -2.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bangor were at 0.68%, which equates to an annual appreciation rate of 2.72%.

Relative to Maine, our data show that Bangor's latest annual appreciation rate is higher than 24% of the other cities and towns in Maine.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bangor differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bangor - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Bangor real estate investment or home purchase decisions.