Freeport, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Freeport Neighborhoods Since 2000




Freeport, 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

Freeport Housing Market Information

With 8,316 people, 3,199 houses or apartments, and a median cost of homes of $396,499, Freeport house prices are not only among the most expensive in Maine, Freeport real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Freeport, accounting for 76.28% of the town's housing units. Other types of housing that are prevalent in Freeport include duplexes, homes converted to apartments or other small apartment buildings ( 7.35%), large apartment complexes or high rise apartments ( 6.76%), and a few mobile homes or trailers ( 5.73%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Freeport. Owner-occupied housing accounts for 77.29% of Freeport's homes, and 57.99% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Freeport 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 Freeport built between 1940-1969 ( 18.16%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.16%). There's also some housing in Freeport built before 1939 ( 16.45%).

Vacant housing appears to be an issue in Freeport. Fully 10.64% of the housing stock is classified as vacant. Left unchecked, vacant Freeport homes and apartments can be a drag on the real estate market, holding Freeport 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.

Freeport Home Appreciation Rates

Appreciation rates for homes in Freeport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.60%, which ranks in the top 50% nationwide. This equates to an annual average Freeport house appreciation rate of 0.06%.

Over the last year, Freeport appreciation rates have trailed the rest of the nation. In the last twelve months, Freeport's appreciation rate has been 2.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Freeport were at 0.64%, which equates to an annual appreciation rate of 2.56%.

Relative to Maine, our data show that Freeport's latest annual appreciation rate is lower than 80% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$396,499

Freeport, ME HOME PRICES

Value Range
> $1,124,000 0.5
$843,001 - $1,124,000 6.3
$562,001 - $843,000 10.2
$449,001 - $562,000 12.2
$337,001 - $449,000 15.4
$225,001 - $337,000 28.6
$112,001 - $225,000 17.2
$56,001 - $112,000 5.3
$0 - $56,000 4.3

Very High for ME
Very High for Nation

Value Relative to Nation Value Relative to State
9.62146958865581 3.68852459016393

Number Of Homes And Apartments:
3,199

Freeport 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
59.38% 2.74% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,022 / per month

Homeownership Rate

Homeownership
Owners 77.29
Renters 22.71
Vacant 10.64

Housing Market Details

 

Age of Homes

AGE OF Freeport HOMES
2000 or Newer 18.2
1970 - 1999 47.2
1940 - 1969 18.2
1939 or Older 16.5

Types of Homes

TYPE OF Freeport HOMES
Single-Family 76.3
Townhomes 3.6
Small Apt. Buildings 7.3
Apt. Complexes 6.8
Mobile Homes 5.7
Other 0.3

Home Size

SIZE OF Freeport HOMES
No Bedroom 0.00
1 Bedroom 8.60
2 Bedrooms 29.64
3 Bedrooms 43.66
4 Bedrooms 14.33
5 or more bedrooms 3.77