Augusta, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Augusta Neighborhoods Since 2000




Augusta, ME Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Augusta Housing Market Information

With 18,471 people, 8,538 houses or apartments, and a median cost of homes of $145,807, Augusta real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Augusta, accounting for 49.80% of the city's housing units. Other types of housing that are prevalent in Augusta include large apartment complexes or high rise apartments ( 25.23%), duplexes, homes converted to apartments or other small apartment buildings ( 18.18%), and a few mobile homes or trailers ( 5.31%).

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

There is a lot of housing in Augusta 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 Augusta built between 1940-1969 ( 30.64%). A lesser amount of the housing stock also hails from before 1939 ( 27.81%). There's also some housing in Augusta built between 2000 and later ( 6.49%).

Vacant housing appears to be an issue in Augusta. Fully 11.15% of the housing stock is classified as vacant. Left unchecked, vacant Augusta homes and apartments can be a drag on the real estate market, holding Augusta 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.

Augusta Home Appreciation Rates

Augusta's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Augusta during the period has been just -1.05%, which is lower than 70% of US communities.

Over the last year, Augusta appreciation rates have trailed the rest of the nation. In the last twelve months, Augusta's appreciation rate has been 2.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Augusta were at 1.58%, which equates to an annual appreciation rate of 6.47%.

Relative to Maine, our data show that Augusta's latest annual appreciation rate is lower than 90% 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 Augusta differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Augusta - 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 2000, to assist you in making the best Augusta real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$145,807

Augusta, ME HOME PRICES

Value Range
> $1,064,000 0.5
$798,001 - $1,064,000 0.0
$532,001 - $798,000 0.3
$426,001 - $532,000 0.5
$319,001 - $426,000 2.4
$213,001 - $319,000 15.2
$106,001 - $213,000 57.2
$53,001 - $106,000 16.4
$0 - $53,000 7.5

Low for ME
Average for Nation

Value Relative to Nation Value Relative to State
51.7696003750146 61.4754098360656

Number Of Homes And Apartments:
8,538

Augusta Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ME*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
35.66% 1.78% 1 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$863 / per month

Homeownership Rate

Homeownership
Owners 49.54
Renters 50.46
Vacant 11.15

Housing Market Details

 

Age of Homes

AGE OF Augusta HOMES
2000 or Newer 6.5
1970 - 1999 35.1
1940 - 1969 30.6
1939 or Older 27.8

Types of Homes

TYPE OF Augusta HOMES
Single-Family 49.8
Townhomes 1.5
Small Apt. Buildings 18.2
Apt. Complexes 25.2
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Augusta HOMES
No Bedroom 3.58
1 Bedroom 20.90
2 Bedrooms 28.93
3 Bedrooms 33.32
4 Bedrooms 10.74
5 or more bedrooms 2.53