Lewiston ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Lewiston, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lewiston Housing Market Information

With a population of 35,944, 15,779 total housing units (homes and apartments), and a median house value of $167,005, Lewiston 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 Lewiston, accounting for 44.73% of the city's housing units. Other types of housing that are prevalent in Lewiston include large apartment complexes or high rise apartments ( 27.30%), duplexes, homes converted to apartments or other small apartment buildings ( 23.85%), and a few mobile homes or trailers ( 3.16%).

People in Lewiston primarily live in small (one, two or no bedroom) single-family detached homes. Lewiston has a mixture of owner-occupied and renter-occupied housing.

The housing in Lewiston was primarily built before 1939 ( 37.47%), making the housing stock in Lewiston some of the oldest overall in America, although there is a range of ages of homes in Lewiston. The next most important housing age is between 1940-1969 ( 32.42%), followed by between 1970-1999 ( 25.25%). There's also some housing in Lewiston built between 2000 and later ( 4.86%).

Lewiston Home Appreciation Rates

Real estate appreciation rates in Lewiston's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.05% during the period.

Appreciation rates are so strong in Lewiston that despite a nationwide downturn in the housing market, Lewiston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lewiston appreciation rates continue to be some of the highest in America, at 11.92%, which is higher than appreciation rates in 97.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lewiston. Lewiston appreciation rates in the latest quarter were at 2.40%, which equates to an annual appreciation rate of 9.96%.

Importantly, NeighborhoodScout’s exclusive research found that Lewiston's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Maine, our data show that Lewiston's latest annual appreciation rate is higher than 90% 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 Lewiston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lewiston - 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 Lewiston real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$167,005

Lewiston, ME HOME PRICES

Value Range
> $1,253,000 0.4
$940,001 - $1,253,000 0.2
$626,001 - $940,000 0.3
$501,001 - $626,000 0.8
$376,001 - $501,000 2.5
$251,001 - $376,000 8.3
$125,001 - $251,000 58.3
$63,001 - $125,000 21.8
$0 - $63,000 7.5

Low for ME
Average for Nation

Value Relative to Nation Value Relative to State
52.9576642335766 64.344262295082

Number Of Homes And Apartments:
15,779

Lewiston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ME*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
69.22% 2.63%
3
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$961 / per month

Homeownership Rate

Homeownership
Owners 47.28
Renters 52.72
Vacant 6.62

Housing Market Details

 

Age of Homes

AGE OF Lewiston HOMES
2000 or Newer 4.9
1970 - 1999 25.3
1940 - 1969 32.4
1939 or Older 37.5

Types of Homes

TYPE OF Lewiston HOMES
Single-Family 44.7
Townhomes 1.0
Small Apt. Buildings 23.9
Apt. Complexes 27.3
Mobile Homes 3.2
Other 0.0

Home Size

SIZE OF Lewiston HOMES
No Bedroom 3.44
1 Bedroom 16.31
2 Bedrooms 30.90
3 Bedrooms 35.87
4 Bedrooms 9.85
5 or more bedrooms 3.63