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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bangor, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Bangor, ME Housing Market Trends

With 31,588 people, 13,887 houses or apartments, and a median cost of homes of $256,461, 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 39.91% 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 ( 28.09%), large apartment complexes or high rise apartments ( 20.13%), and a few mobile homes or trailers ( 7.26%).

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 ( 37.79%), 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 ( 27.30%), followed by between 1940-1969 ( 23.44%). There's also some housing in Bangor built between 2000 and later ( 11.47%).

Bangor Home Appreciation Rates

Appreciation rates for homes in Bangor have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.20%, which ranks in the top 50% nationwide. This equates to an annual average Bangor house appreciation rate of 6.30%.

Appreciation rates are so strong in Bangor that despite a nationwide downturn in the housing market, Bangor real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bangor appreciation rates continue to be some of the highest in America, at 9.62%, which is higher than appreciation rates in 94.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bangor. Bangor appreciation rates in the latest quarter were at 5.19%, which equates to an annual appreciation rate of 22.42%.

Importantly, this makes Bangor 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 Bangor's latest annual appreciation rate is lower 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 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

$256,461

Bangor, ME Home Prices
> $1,580,000
$1,185,001 - $1,580,000
$790,001 - $1,185,000
$632,001 - $790,000
$474,001 - $632,000
$316,001 - $474,000
$158,001 - $316,000
$79,001 - $158,000
$0 - $79,000
0.2%
0.2%
0.0%
0.0%
1.5%
1.5%
3.6%
3.6%
6.1%
6.1%
16.4%
16.4%
52.8%
52.8%
8.4%
8.4%
10.8%
10.8%
0% 100.0%
% of Homes
Low

for Maine

Average

for nation

Number of Homes And Apartments:

13,887

Bangor Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,766 / per month

Homeownership Rate

Owners
Renters
Vacant
43.8%
43.8%
56.2%
56.2%
9.8%
9.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.5%
11.5%
27.3%
27.3%
23.4%
23.4%
37.8%
37.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
39.9%
39.9%
4.6%
4.6%
28.1%
28.1%
20.1%
20.1%
7.3%
7.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.4%
4.4%
20.2%
20.2%
29.7%
29.7%
31.5%
31.5%
11.5%
11.5%
2.8%
2.8%
0% 100.0%
% of Homes