Scarborough, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Scarborough Neighborhoods Since 2000




Scarborough, 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

Scarborough Housing Market Information

With a population of 19,691, 7,475 total housing units (homes and apartments), and a median house value of $356,581, Scarborough house prices are not only among the most expensive in Maine, Scarborough real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Scarborough, accounting for 75.84% of the town's housing units. Other types of housing that are prevalent in Scarborough include duplexes, homes converted to apartments or other small apartment buildings ( 7.77%), large apartment complexes or high rise apartments ( 7.12%), and a few row houses and other attached homes ( 5.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Scarborough. Owner-occupied housing accounts for 76.92% of Scarborough's homes, and 62.42% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Scarborough 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 Scarborough built between 2000 and later ( 20.36%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.00%). There's also some housing in Scarborough built before 1939 ( 12.30%).

Vacant housing appears to be an issue in Scarborough. Fully 10.56% of the housing stock is classified as vacant. Left unchecked, vacant Scarborough homes and apartments can be a drag on the real estate market, holding Scarborough 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.

Scarborough Home Appreciation Rates

Appreciation rates for homes in Scarborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.64%, which ranks in the top 50% nationwide. This equates to an annual average Scarborough house appreciation rate of 0.16%.

NeighborhoodScout's data show that during the latest twelve months, Scarborough's appreciation rate, at 4.15%, has been at or slightly above the national average. In the latest quarter, Scarborough's appreciation rate has been 0.64%, which annualizes to a rate of 2.56%.

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

Average Home Values

 

Median Home Value:
$356,581

Scarborough, ME HOME PRICES

Value Range
> $1,111,000 1.7
$833,001 - $1,111,000 1.3
$556,001 - $833,000 10.2
$444,001 - $556,000 15.1
$333,001 - $444,000 25.8
$222,001 - $333,000 26.2
$111,001 - $222,000 13.8
$55,001 - $111,000 2.3
$0 - $55,000 3.7

Very High for ME
Very High for Nation

Value Relative to Nation Value Relative to State
11.7250673854447 5.73770491803279

Number Of Homes And Apartments:
7,475

Scarborough 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
58.12% 2.69% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,431 / per month

Homeownership Rate

Homeownership
Owners 76.92
Renters 23.08
Vacant 10.56

Housing Market Details

 

Age of Homes

AGE OF Scarborough HOMES
2000 or Newer 20.4
1970 - 1999 51.3
1940 - 1969 16.0
1939 or Older 12.3

Types of Homes

TYPE OF Scarborough HOMES
Single-Family 75.8
Townhomes 5.5
Small Apt. Buildings 7.8
Apt. Complexes 7.1
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Scarborough HOMES
No Bedroom 0.35
1 Bedroom 7.68
2 Bedrooms 24.74
3 Bedrooms 38.63
4 Bedrooms 23.79
5 or more bedrooms 4.81