Old Town, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Old Town Neighborhoods Since 2000




Old Town, 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

Old Town Housing Market Information

With 7,624 people, 3,269 houses or apartments, and a median cost of homes of $124,809, house prices in Old Town are solidly below the national average.

Single-family detached homes are the single most common housing type in Old Town, accounting for 56.70% of the city's housing units. Other types of housing that are prevalent in Old Town include duplexes, homes converted to apartments or other small apartment buildings ( 21.02%), large apartment complexes or high rise apartments ( 15.16%), and a few mobile homes or trailers ( 6.98%).

The most prevalent building size and type in Old Town are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.67% owning and 44.33% renting.

The housing in Old Town was primarily built before 1939 ( 39.05%), making the housing stock in Old Town some of the oldest overall in America, although there is a range of ages of homes in Old Town. The next most important housing age is between 1970-1999 ( 28.99%), followed by between 1940-1969 ( 26.31%). There's also some housing in Old Town built between 2000 and later ( 5.65%).

Vacant housing appears to be an issue in Old Town. Fully 13.22% of the housing stock is classified as vacant. Left unchecked, vacant Old Town homes and apartments can be a drag on the real estate market, holding Old Town 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.

Old Town Home Appreciation Rates

Real estate appreciation rates in Old Town's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.45% during the period.

NeighborhoodScout's data show that during the latest twelve months, Old Town's appreciation rate, at 4.51%, has been at or slightly above the national average. In the latest quarter, Old Town's appreciation rate has been 1.55%, which annualizes to a rate of 6.33%.

Relative to Maine, our data show that Old Town's latest annual appreciation rate is higher than 50% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$124,809

Old Town, ME HOME PRICES

Value Range
> $1,070,000 0.0
$802,001 - $1,070,000 0.0
$535,001 - $802,000 0.4
$428,001 - $535,000 0.2
$321,001 - $428,000 2.6
$214,001 - $321,000 9.1
$107,001 - $214,000 54.8
$53,001 - $107,000 25.0
$0 - $53,000 7.8

Low for ME
Low for Nation

Value Relative to Nation Value Relative to State
62.6567444040783 75.4098360655738

Number Of Homes And Apartments:
3,269

Old Town 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
62.81% 2.87% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$814 / per month

Homeownership Rate

Homeownership
Owners 55.67
Renters 44.33
Vacant 13.22

Housing Market Details

 

Age of Homes

AGE OF Old Town HOMES
2000 or Newer 5.7
1970 - 1999 29.0
1940 - 1969 26.3
1939 or Older 39.0

Types of Homes

TYPE OF Old Town HOMES
Single-Family 56.7
Townhomes 0.1
Small Apt. Buildings 21.0
Apt. Complexes 15.2
Mobile Homes 7.0
Other 0.0

Home Size

SIZE OF Old Town HOMES
No Bedroom 2.18
1 Bedroom 15.95
2 Bedrooms 27.90
3 Bedrooms 40.22
4 Bedrooms 11.95
5 or more bedrooms 1.81