Gorham, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Gorham Neighborhoods Since 2000




Gorham, 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

Gorham Housing Market Information

With 17,181 people, 5,889 houses or apartments, and a median cost of homes of $276,396, Gorham real estate is some of the most expensive in Maine, although Gorham home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Gorham, accounting for 77.63% of the town's housing units. Other types of housing that are prevalent in Gorham include duplexes, homes converted to apartments or other small apartment buildings ( 8.26%), mobile homes or trailers ( 6.50%), and a few large apartment complexes or high rise apartments ( 4.85%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gorham. Owner-occupied housing accounts for 75.49% of Gorham's homes, and 66.41% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gorham 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 Gorham built between 2000 and later ( 21.62%). A lesser amount of the housing stock also hails from before 1939 ( 17.69%). There's also some housing in Gorham built between 1940-1969 ( 14.57%).

Gorham Home Appreciation Rates

Real estate appreciation rates in Gorham's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.33% during the period.

NeighborhoodScout's data show that during the latest twelve months, Gorham's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, Gorham's appreciation rate has been 0.64%, which annualizes to a rate of 2.56%.

Relative to Maine, our data show that Gorham's latest annual appreciation rate is higher than 70% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$276,396

Gorham, ME HOME PRICES

Value Range
> $1,113,000 0.0
$835,001 - $1,113,000 0.0
$556,001 - $835,000 1.5
$445,001 - $556,000 3.7
$334,001 - $445,000 19.7
$222,001 - $334,000 46.5
$111,001 - $222,000 20.2
$55,001 - $111,000 3.4
$0 - $55,000 5.1

Very High for ME
Very High for Nation

Value Relative to Nation Value Relative to State
18.838626508848 10.2459016393443

Number Of Homes And Apartments:
5,889

Gorham 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
50.08% 2.38% 3 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,358 / per month

Homeownership Rate

Homeownership
Owners 75.49
Renters 24.51
Vacant 7.55

Housing Market Details

 

Age of Homes

AGE OF Gorham HOMES
2000 or Newer 21.6
1970 - 1999 46.1
1940 - 1969 14.6
1939 or Older 17.7

Types of Homes

TYPE OF Gorham HOMES
Single-Family 77.6
Townhomes 2.8
Small Apt. Buildings 8.3
Apt. Complexes 4.9
Mobile Homes 6.5
Other 0.0

Home Size

SIZE OF Gorham HOMES
No Bedroom 1.32
1 Bedroom 6.11
2 Bedrooms 21.08
3 Bedrooms 46.15
4 Bedrooms 20.25
5 or more bedrooms 5.09