Lewiston appreciation rates and housing market information

Lewiston housing market information

With 35,690 people, 16,470 houses or apartments, and a median cost of homes of $186,433, Lewiston real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Lewiston, accounting for 38.20% of the city's housing units. Other types of housing that are prevalent in Lewiston include large apartment complexes or high rise apartments (30.09%), duplexes, homes converted to apartments, or other small apartment buildings (26.92%), mobile homes or trailers (3.67%), and a few row houses and other attached homes (1.11%).

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

The housing in Lewiston was primarily built before 1939 (41.13%), making the housing stock in Lewiston some of the older overall in America, although there is a range of ages of homes in Lewiston. The next most important Lewiston housing age is 1940-1969 (36.04%), followed by 1970-1994 (20.90%). There's also some housing in Lewiston built between 1995 and later (1.93%).

Lewiston home appreciation rates

Appreciation rates for homes in Lewiston have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 82.41%, which ranks in the top 40% nationwide. This equates to an annual average Lewiston house appreciation rate of 8.24%.

Over the last year, Lewiston appreciation rates have trailed the rest of the nation. In the last twelve months, Lewiston's appreciation rate has been -2.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lewiston were at 1.19%, which equates to an annual appreciation rate of 4.76%.

Relative to Maine, our data show that Lewiston's latest annual appreciation rate is higher than 21% 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 Lewiston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lewiston - 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 Lewiston real estate investment or home purchase decisions.