Augusta, 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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Augusta, ME Housing Market Trends

With 18,697 people, 9,040 houses or apartments, and a median cost of homes of $183,484, 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 50.35% of the city's housing units. Other types of housing that are prevalent in Augusta include large apartment complexes or high rise apartments ( 25.64%), duplexes, homes converted to apartments or other small apartment buildings ( 17.84%), and a few mobile homes or trailers ( 5.28%).

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 before 1939 ( 31.38%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.42%). There's also some housing in Augusta built between 2000 and later ( 8.81%).

Vacant housing appears to be an issue in Augusta. Fully 10.80% 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

Real estate appreciation rates in Augusta's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.15% during the period.

Appreciation rates are so strong in Augusta that despite a nationwide downturn in the housing market, Augusta real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Augusta appreciation rates continue to be some of the highest in America, at 9.49%, which is higher than appreciation rates in 98.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Augusta. Augusta appreciation rates in the latest quarter were at 5.01%, which equates to an annual appreciation rate of 21.59%.

Importantly, this makes Augusta one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Maine, our data show that Augusta's latest annual appreciation rate is higher than 60% 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:
$183,484

Augusta, ME HOME PRICES

> $1,208,000
0.2%
0.2%
$906,001 - $1,208,000
0.0%
0.0%
$604,001 - $906,000
0.4%
0.4%
$483,001 - $604,000
1.5%
1.5%
$362,001 - $483,000
2.8%
2.8%
$242,001 - $362,000
15.3%
15.3%
$121,001 - $242,000
61.6%
61.6%
$61,001 - $121,000
14.2%
14.2%
$0 - $61,000
4.0%
4.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for ME

Value Relative To Nation

Number Of Homes And Apartments:
9,040

Augusta Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ME*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
67.61% 2.49%
2
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$966 / per month

Homeownership Rate

Owners
49.7%
49.7%
Renters
50.3%
50.3%
Vacant
10.8%
10.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.8%
8.8%
1970 - 1999
34.4%
34.4%
1940 - 1969
25.4%
25.4%
1939 or Older
31.4%
31.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
50.3%
50.3%
Townhomes
0.9%
0.9%
Small Apt. Buildings
17.8%
17.8%
Apt. Complexes
25.6%
25.6%
Mobile Homes
5.3%
5.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.9%
2.9%
1 Bedroom
20.0%
20.0%
2 Bedrooms
30.0%
30.0%
3 Bedrooms
34.7%
34.7%
4 Bedrooms
9.6%
9.6%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES