Gray, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Gray Neighborhoods Since 2000




Gray, 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

Gray Housing Market Information

With a population of 8,044, 3,018 total housing units (homes and apartments), and a median house value of $213,789, Gray real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Gray, accounting for 78.39% of the town's housing units. Other types of housing that are prevalent in Gray include duplexes, homes converted to apartments or other small apartment buildings ( 9.68%), mobile homes or trailers ( 7.72%), and a few row houses and other attached homes ( 2.31%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gray. Owner-occupied housing accounts for 76.78% of Gray's homes, and 53.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gray 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 Gray built between 1940-1969 ( 22.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.00%). There's also some housing in Gray built before 1939 ( 12.51%).

Vacant housing appears to be an issue in Gray. Fully 17.04% of the housing stock is classified as vacant. Left unchecked, vacant Gray homes and apartments can be a drag on the real estate market, holding Gray 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.

Gray Home Appreciation Rates

Gray's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gray during the period has been just -0.96%, which is lower than 70% of US communities.

Over the last year, Gray appreciation rates have trailed the rest of the nation. In the last twelve months, Gray's appreciation rate has been 2.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gray were at 0.64%, which equates to an annual appreciation rate of 2.56%.

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

Average Home Values

 

Median Home Value:
$213,789

Gray, ME HOME PRICES

Value Range
> $1,074,000 1.7
$805,001 - $1,074,000 0.8
$537,001 - $805,000 4.1
$429,001 - $537,000 3.8
$322,001 - $429,000 8.7
$215,001 - $322,000 38.3
$108,001 - $215,000 31.7
$54,001 - $108,000 5.9
$0 - $54,000 4.9

High for ME
High for Nation

Value Relative to Nation Value Relative to State
29.0401968826907 25.4098360655738

Number Of Homes And Apartments:
3,018

Gray 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
43.17% 2.10% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,313 / per month

Homeownership Rate

Homeownership
Owners 76.78
Renters 23.22
Vacant 17.04

Housing Market Details

 

Age of Homes

AGE OF Gray HOMES
2000 or Newer 13.0
1970 - 1999 52.3
1940 - 1969 22.2
1939 or Older 12.5

Types of Homes

TYPE OF Gray HOMES
Single-Family 78.4
Townhomes 2.3
Small Apt. Buildings 9.7
Apt. Complexes 1.9
Mobile Homes 7.7
Other 0.0

Home Size

SIZE OF Gray HOMES
No Bedroom 2.34
1 Bedroom 5.58
2 Bedrooms 37.11
3 Bedrooms 42.72
4 Bedrooms 10.61
5 or more bedrooms 1.65