Bangor, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bangor, 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

Bangor Housing Market Information

With a population of 32,391, 14,099 total housing units (homes and apartments), and a median house value of $155,325, 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 41.37% 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 ( 28.33%), large apartment complexes or high rise apartments ( 21.87%), and a few mobile homes or trailers ( 4.83%).

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 ( 36.07%), 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 ( 28.43%), followed by between 1940-1969 ( 27.05%). There's also some housing in Bangor built between 2000 and later ( 8.45%).

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 -0.99%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bangor's appreciation rate, at 4.13%, has been at or slightly above the national average. In the latest quarter, Bangor's appreciation rate has been 1.55%, which annualizes to a rate of 6.33%.

Relative to Maine, our data show that Bangor's latest annual appreciation rate is lower than 50% 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:
$155,325

Bangor, ME HOME PRICES

Value Range
> $1,056,000 0.2
$792,001 - $1,056,000 0.1
$528,001 - $792,000 0.4
$423,001 - $528,000 1.7
$317,001 - $423,000 2.2
$211,001 - $317,000 16.2
$105,001 - $211,000 59.3
$53,001 - $105,000 13.2
$0 - $53,000 6.8

Average for ME
Average for Nation

Value Relative to Nation Value Relative to State
47.767490917614 54.5081967213115

Number Of Homes And Apartments:
14,099

Bangor 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
40.05% 1.97% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$968 / per month

Homeownership Rate

Homeownership
Owners 40.65
Renters 59.35
Vacant 8.67

Housing Market Details

 

Age of Homes

AGE OF Bangor HOMES
2000 or Newer 8.5
1970 - 1999 28.4
1940 - 1969 27.1
1939 or Older 36.1

Types of Homes

TYPE OF Bangor HOMES
Single-Family 41.4
Townhomes 3.6
Small Apt. Buildings 28.3
Apt. Complexes 21.9
Mobile Homes 4.8
Other 0.0

Home Size

SIZE OF Bangor HOMES
No Bedroom 5.21
1 Bedroom 18.89
2 Bedrooms 31.29
3 Bedrooms 30.37
4 Bedrooms 10.49
5 or more bedrooms 3.76