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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 8,661 people, 3,768 houses or apartments, and a median cost of homes of $221,073, house prices in Skowhegan are solidly below the national average.
Single-family detached homes are the single most common housing type in Skowhegan, accounting for 61.23% of the town's housing units. Other types of housing that are prevalent in Skowhegan include duplexes, homes converted to apartments or other small apartment buildings ( 14.55%), mobile homes or trailers ( 12.79%), and a few large apartment complexes or high rise apartments ( 11.24%).
People in Skowhegan primarily live in small (one, two or no bedroom) single-family detached homes. Skowhegan has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Skowhegan 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 Skowhegan built before 1939 ( 26.00%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.90%). There's also some housing in Skowhegan built between 2000 and later ( 6.71%).
Appreciation rates for homes in Skowhegan have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.38%, which ranks in the top 40% nationwide. This equates to an annual average Skowhegan house appreciation rate of 6.87%.
Appreciation rates are so strong in Skowhegan that despite a nationwide downturn in the housing market, Skowhegan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Skowhegan appreciation rates continue to be some of the highest in America, at 9.45%, which is higher than appreciation rates in 93.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Skowhegan. Skowhegan appreciation rates in the latest quarter were at 0.16%, which equates to an annual appreciation rate of 0.65%.
Relative to Maine, our data show that Skowhegan's latest annual appreciation rate is lower than 60% of the other cities and towns in Maine.
$221,073
for Maine
for nation
3,768
$1,285 / per month