South Portland, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating South Portland Neighborhoods Since 2000




South 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

South Portland Housing Market Information

With 25,556 people, 10,524 houses or apartments, and a median cost of homes of $226,989, South Portland real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in South Portland, accounting for 54.38% of the city's housing units. Other types of housing that are prevalent in South Portland include large apartment complexes or high rise apartments ( 19.57%), duplexes, homes converted to apartments or other small apartment buildings ( 19.31%), and a few row houses and other attached homes ( 6.75%).

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

There is a lot of housing in South Portland 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 South Portland built before 1939 ( 28.85%). A lesser amount of the housing stock also hails from between 1940-1969 ( 27.40%). There's also some housing in South Portland built between 2000 and later ( 12.66%).

South Portland Home Appreciation Rates

Appreciation rates for homes in South 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 4.89%, which ranks in the top 40% nationwide. This equates to an annual average South Portland house appreciation rate of 0.48%.

Appreciation rates are so strong in South Portland that despite a nationwide downturn in the housing market, South Portland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Portland appreciation rates continue to be some of the highest in America, at 6.01%, which is higher than appreciation rates in 74.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Portland. South 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 South Portland's latest annual appreciation rate is higher than 80% 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 South Portland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South 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 South Portland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$226,989

South Portland, ME HOME PRICES

Value Range
> $1,152,000 0.7
$864,001 - $1,152,000 0.6
$576,001 - $864,000 2.1
$461,001 - $576,000 4.2
$346,001 - $461,000 11.0
$231,001 - $346,000 39.7
$115,001 - $231,000 37.1
$58,001 - $115,000 1.5
$0 - $58,000 3.1

High for ME
High for Nation

Value Relative to Nation Value Relative to State
26.3623579046056 20.9016393442623

Number Of Homes And Apartments:
10,524

South 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
73.61% 3.25% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,293 / per month

Homeownership Rate

Homeownership
Owners 56.17
Renters 43.83
Vacant 5.55

Housing Market Details

 

Age of Homes

AGE OF South Portland HOMES
2000 or Newer 12.7
1970 - 1999 31.1
1940 - 1969 27.4
1939 or Older 28.9

Types of Homes

TYPE OF South Portland HOMES
Single-Family 54.4
Townhomes 6.7
Small Apt. Buildings 19.3
Apt. Complexes 19.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF South Portland HOMES
No Bedroom 0.68
1 Bedroom 13.37
2 Bedrooms 37.73
3 Bedrooms 32.76
4 Bedrooms 11.57
5 or more bedrooms 3.89