Portland, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Portland Neighborhoods Since 2000




Portland, 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

Portland Housing Market Information

With a population of 66,881, 30,119 total housing units (homes and apartments), and a median house value of $310,334, Portland real estate is some of the most expensive in Maine, although Portland home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Portland, accounting for 36.76% of the city's housing units. Other types of housing that are prevalent in Portland include large apartment complexes or high rise apartments ( 30.04%), duplexes, homes converted to apartments or other small apartment buildings ( 26.36%), and a few row houses and other attached homes ( 6.51%).

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

The housing in Portland was primarily built before 1939 ( 49.36%), making the housing stock in Portland some of the oldest overall in America, although there is a range of ages of homes in Portland. The next most important housing age is between 1940-1969 ( 22.76%), followed by between 1970-1999 ( 21.83%). There's also some housing in Portland built between 2000 and later ( 6.05%).

Portland Home Appreciation Rates

Appreciation rates for homes in Portland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.94%, which ranks in the top 30% nationwide. This equates to an annual average Portland house appreciation rate of 1.22%.

Appreciation rates are so strong in Portland that despite a nationwide downturn in the housing market, Portland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Portland appreciation rates continue to be some of the highest in America, at 9.01%, which is higher than appreciation rates in 90.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Portland. Portland appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.56%.

Relative to Maine, our data show that Portland'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 Portland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portland - 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 Portland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$310,334

Portland, ME HOME PRICES

Value Range
> $1,159,000 0.5
$869,001 - $1,159,000 1.6
$579,001 - $869,000 5.1
$463,001 - $579,000 7.7
$348,001 - $463,000 16.4
$232,001 - $348,000 37.1
$116,001 - $232,000 28.3
$58,001 - $116,000 0.7
$0 - $58,000 2.5

Very High for ME
Very High for Nation

Value Relative to Nation Value Relative to State
15.3931794210711 9.01639344262295

Number Of Homes And Apartments:
30,119

Portland 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
91.93% 3.85% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,220 / per month

Homeownership Rate

Homeownership
Owners 42.08
Renters 57.92
Vacant 10.00

Housing Market Details

 

Age of Homes

AGE OF Portland HOMES
2000 or Newer 6.0
1970 - 1999 21.8
1940 - 1969 22.8
1939 or Older 49.4

Types of Homes

TYPE OF Portland HOMES
Single-Family 36.8
Townhomes 6.5
Small Apt. Buildings 26.4
Apt. Complexes 30.0
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Portland HOMES
No Bedroom 5.03
1 Bedroom 23.60
2 Bedrooms 32.00
3 Bedrooms 26.21
4 Bedrooms 10.09
5 or more bedrooms 3.07