South Portland appreciation rates and housing market information

South Portland housing market information

With a population of 23,324, 10,349 total housing units (homes and apartments), and a median house value of $244,101, South Portland real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in South Portland, accounting for 58.90% of the city's housing units. Other types of housing that are prevalent in South Portland include duplexes, homes converted to apartments, or other small apartment buildings (19.99%), large apartment complexes or high rise apartments (16.82%), and a few row houses and other attached homes (4.13%).

The most prevalent building size and type in South Portland are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 62.43% owning, and 34.65% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. South Portland's housing was primarily built during this period, from the '40s through the '60s. A full 36.91% of the city's housing hails from this era. Other housing ages represented in South Portland include homes built between 1939 and earlier (31.42%), and housing constructed from 1970-1994 (28.06%). There's also some housing in South Portland built between 1995 and later (3.61%).

South Portland home appreciation rates

Appreciation rates for homes in South 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 92.16%, which ranks in the top 30% nationwide. This equates to an annual average South Portland house appreciation rate of 9.21%.

Over the last year, South Portland appreciation rates have trailed the rest of the nation. In the last twelve months, South Portland's appreciation rate has been -3.67%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Portland were at 0.09%, which equates to an annual appreciation rate of 0.36%.

Relative to Maine, our data show that South Portland's latest annual appreciation rate is higher than 11% 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 South Portland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South 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 South Portland real estate investment or home purchase decisions.