Biddeford appreciation rates and housing market information

Biddeford housing market information

With a population of 20,942, 9,631 total housing units (homes and apartments), and a median house value of $246,710, Biddeford real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Biddeford, accounting for 45.14% of the city's housing units. Other types of housing that are prevalent in Biddeford include duplexes, homes converted to apartments, or other small apartment buildings (31.44%), large apartment complexes or high rise apartments (19.89%), row houses and other attached homes (2.52%), and a few mobile homes or trailers (0.94%).

The most prevalent building size and type in Biddeford are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 43.57% owning, and 46.10% renting.

The housing in Biddeford was primarily built before 1939 (39.85%), making the housing stock in Biddeford some of the older overall in America, although there is a range of ages of homes in Biddeford. The next most important Biddeford housing age is 1940-1969 (29.62%), followed by 1970-1994 (27.13%). There's also some housing in Biddeford built between 1995 and later (3.40%).

Vacant housing appears to be an issue in Biddeford. Fully 10.33% of the housing stock is classified as vacant. Left unchecked, vacant Biddeford homes and apartments can be a drag on the real estate market, holding Biddeford real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Biddeford home appreciation rates

Appreciation rates for homes in Biddeford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.78%, which ranks in the top 30% nationwide. This equates to an annual average Biddeford house appreciation rate of 9.07%.

Over the last year, Biddeford appreciation rates have trailed the rest of the nation. In the last twelve months, Biddeford's appreciation rate has been -3.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Biddeford were at 0.05%, which equates to an annual appreciation rate of 0.20%.

Relative to Maine, our data show that Biddeford's latest annual appreciation rate is higher than 9% of the other cities and towns in Maine.