Portland appreciation rates and housing market information

Portland housing market information

With 64,257 people, 31,864 houses or apartments, and a median cost of homes of $269,484, Portland real estate is some of the most expensive in Maine, although Portland home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Portland, accounting for 35.05% of the city's housing units. Other types of housing that are prevalent in Portland include large apartment complexes or high rise apartments (31.94%), duplexes, homes converted to apartments, or other small apartment buildings (28.04%), and a few row houses and other attached homes (4.73%).

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

The housing in Portland was primarily built before 1939 (49.02%), making the housing stock in Portland some of the older overall in America, although there is a range of ages of homes in Portland. The next most important Portland housing age is 1940-1969 (28.56%), followed by 1970-1994 (19.78%). There's also some housing in Portland built between 1995 and later (2.64%).

Portland home appreciation rates

Appreciation rates for homes in Portland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.97%, which ranks in the top 30% nationwide. This equates to an annual average Portland house appreciation rate of 9.29%.

Over the last year, Portland appreciation rates have trailed the rest of the nation. In the last twelve months, Portland's appreciation rate has been -3.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Portland were at 0.11%, which equates to an annual appreciation rate of 0.44%.

Relative to Maine, our data show that Portland's latest annual appreciation rate is higher than 12% 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 Portland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portland - 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 Portland real estate investment or home purchase decisions.