Orono, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Orono Neighborhoods Since 2000




Orono, 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

Orono Housing Market Information

With 10,700 people, 2,908 houses or apartments, and a median cost of homes of $231,251, Orono real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Orono, accounting for 48.82% of the town's housing units. Other types of housing that are prevalent in Orono include large apartment complexes or high rise apartments ( 22.88%), duplexes, homes converted to apartments or other small apartment buildings ( 20.61%), and a few mobile homes or trailers ( 5.88%).

Renters dominate Orono's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

There is a lot of housing in Orono 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 Orono built before 1939 ( 25.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.17%). There's also some housing in Orono built between 2000 and later ( 16.22%).

Orono Home Appreciation Rates

Real estate appreciation rates in Orono's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.59% during the period.

Appreciation rates are so strong in Orono that despite a nationwide downturn in the housing market, Orono real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Orono appreciation rates continue to be some of the highest in America, at 7.03%, which is higher than appreciation rates in 81.50% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Orono. Orono appreciation rates in the latest quarter were at 1.55%, which equates to an annual appreciation rate of 6.33%.

Relative to Maine, our data show that Orono's latest annual appreciation rate is higher than 90% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$231,251

Orono, ME HOME PRICES

Value Range
> $1,060,000 0.0
$795,001 - $1,060,000 0.3
$530,001 - $795,000 1.0
$424,001 - $530,000 5.6
$318,001 - $424,000 8.0
$212,001 - $318,000 36.5
$106,001 - $212,000 36.9
$53,001 - $106,000 8.5
$0 - $53,000 3.3

High for ME
High for Nation

Value Relative to Nation Value Relative to State
25.6211180124224 20.4918032786885

Number Of Homes And Apartments:
2,908

Orono 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
38.61% 1.91% 1 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,032 / per month

Homeownership Rate

Homeownership
Owners 29.93
Renters 70.07
Vacant 9.46

Housing Market Details

 

Age of Homes

AGE OF Orono HOMES
2000 or Newer 16.2
1970 - 1999 37.4
1940 - 1969 21.2
1939 or Older 25.2

Types of Homes

TYPE OF Orono HOMES
Single-Family 48.8
Townhomes 1.8
Small Apt. Buildings 20.6
Apt. Complexes 22.9
Mobile Homes 5.9
Other 0.0

Home Size

SIZE OF Orono HOMES
No Bedroom 7.91
1 Bedroom 13.36
2 Bedrooms 25.22
3 Bedrooms 26.46
4 Bedrooms 21.26
5 or more bedrooms 5.79