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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Falmouth, ME Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Falmouth, ME Housing Market Trends

With 12,857 people, 4,875 houses or apartments, and a median cost of homes of $788,250, Falmouth house prices are not only among the most expensive in Maine, Falmouth real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Falmouth, accounting for 82.65% of the town's housing units. Other types of housing that are prevalent in Falmouth include row houses and other attached homes ( 7.60%), large apartment complexes or high rise apartments ( 5.98%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.37%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Falmouth. Owner-occupied housing accounts for 85.79% of Falmouth's homes, and 64.92% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Falmouth built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Falmouth built between 1940-1969 ( 22.69%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.26%). There's also some housing in Falmouth built before 1939 ( 12.68%).

Falmouth Home Appreciation Rates

Appreciation rates for homes in Falmouth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.29%, which ranks in the top 30% nationwide. This equates to an annual average Falmouth house appreciation rate of 7.09%.

Appreciation rates are so strong in Falmouth that despite a nationwide downturn in the housing market, Falmouth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Falmouth appreciation rates continue to be some of the highest in America, at 9.20%, which is higher than appreciation rates in 93.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Falmouth. Falmouth appreciation rates in the latest quarter were at 3.64%, which equates to an annual appreciation rate of 15.37%.

Relative to Maine, our data show that Falmouth's latest annual appreciation rate is lower than 60% of the other cities and towns in Maine.

Average Home Values

Median Home Value

$788,250

Falmouth, ME Home Prices
> $1,517,000
$1,137,001 - $1,517,000
$758,001 - $1,137,000
$607,001 - $758,000
$455,001 - $607,000
$303,001 - $455,000
$151,001 - $303,000
$76,001 - $151,000
$0 - $76,000
6.7%
6.7%
11.9%
11.9%
31.9%
31.9%
17.8%
17.8%
14.5%
14.5%
12.3%
12.3%
3.6%
3.6%
0.6%
0.6%
0.6%
0.6%
0% 100.0%
% of Homes
Very High

for Maine

Very High

for nation

Number of Homes And Apartments:

4,875

Falmouth Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,331 / per month

Homeownership Rate

Owners
Renters
Vacant
85.8%
85.8%
14.2%
14.2%
5.0%
5.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
20.3%
20.3%
44.4%
44.4%
22.7%
22.7%
12.7%
12.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.6%
82.6%
7.6%
7.6%
3.4%
3.4%
6.0%
6.0%
0.4%
0.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
6.3%
6.3%
19.2%
19.2%
35.0%
35.0%
29.9%
29.9%
8.7%
8.7%
0% 100.0%
% of Homes