Bangor, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bangor, ME Real Estate Data


Bangor Housing Market Information

With 32,391 people, 14,287 houses or apartments, and a median cost of homes of $148,130, Bangor 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 Bangor, accounting for 40.38% of the city's housing units. Other types of housing that are prevalent in Bangor include duplexes, homes converted to apartments or other small apartment buildings ( 30.00%), large apartment complexes or high rise apartments ( 20.27%), and a few mobile homes or trailers ( 5.59%).

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

The housing in Bangor was primarily built before 1939 ( 34.84%), making the housing stock in Bangor some of the oldest overall in America, although there is a range of ages of homes in Bangor. The next most important housing age is between 1970-1999 ( 30.19%), followed by between 1940-1969 ( 27.29%). There's also some housing in Bangor built between 2000 and later ( 7.68%).

Bangor Home Appreciation Rates

Bangor's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bangor during the period has been just -1.06%, which is lower than 70% of US communities.

Over the last year, Bangor appreciation rates have trailed the rest of the nation. In the last twelve months, Bangor's appreciation rate has been 1.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bangor were at -0.39%, which equates to an annual appreciation rate of -1.54%.

Notably, Bangor's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Maine, our data show that Bangor's latest annual appreciation rate is lower than 80% 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 Bangor differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bangor - 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 Bangor real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$148,130

Bangor, ME HOME PRICES

Value Range
> $1,023,000 0.2
$767,001 - $1,023,000 0.3
$511,001 - $767,000 0.6
$409,001 - $511,000 0.8
$307,001 - $409,000 3.3
$205,001 - $307,000 14.7
$102,001 - $205,000 60.3
$51,001 - $102,000 12.0
$0 - $51,000 7.9

Average for ME
Average for Nation

Value Relative to Nation Value Relative to State
51.6952626339521 58.6065573770492

Number Of Homes And Apartments:
14,287

Rent & Ownership

 

Average Market Rent:
$918 / per month

Homeownership Rate

Homeownership
Owners 40.98
Renters 59.02
Vacant 9.28

Housing Market Details

 

Age of Homes

AGE OF Bangor HOMES
2000 or Newer 7.7
1970 - 1999 30.2
1940 - 1969 27.3
1939 or Older 34.8

Types of Homes

TYPE OF Bangor HOMES
Single-Family 40.4
Townhomes 3.8
Small Apt. Buildings 30.0
Apt. Complexes 20.3
Mobile Homes 5.6
Other 0.0

Home Size

SIZE OF Bangor HOMES
No Bedroom 5.26
1 Bedroom 18.66
2 Bedrooms 31.58
3 Bedrooms 30.48
4 Bedrooms 10.29
5 or more bedrooms 3.74

Bangor Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ME*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
36.52% 1.85% 1 4
* 10 is highest