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Waterville, ME Real Estate Market

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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Waterville, ME Housing Market Trends

With a population of 15,828, 7,100 total housing units (homes and apartments), and a median house value of $197,782, house prices in Waterville are solidly below the national average.

Single-family detached homes are the single most common housing type in Waterville, accounting for 40.36% of the city's housing units. Other types of housing that are prevalent in Waterville include duplexes, homes converted to apartments or other small apartment buildings ( 29.49%), large apartment complexes or high rise apartments ( 22.85%), and a few row houses and other attached homes ( 4.25%).

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

The housing in Waterville was primarily built before 1939 ( 34.49%), making the housing stock in Waterville some of the oldest overall in America, although there is a range of ages of homes in Waterville. The next most important housing age is between 1970-1999 ( 31.52%), followed by between 1940-1969 ( 28.81%). There's also some housing in Waterville built between 2000 and later ( 5.17%).

Waterville Home Appreciation Rates

Real estate appreciation rates in Waterville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 4.83% during the period.

Appreciation rates are so strong in Waterville that despite a nationwide downturn in the housing market, Waterville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waterville appreciation rates continue to be some of the highest in America, at 19.53%, which is higher than appreciation rates in 81.36% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waterville. Waterville appreciation rates in the latest quarter were at 4.50%, which equates to an annual appreciation rate of 19.26%.

Importantly, this makes Waterville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$197,782

Waterville, ME HOME PRICES

> $1,508,000
$1,131,001 - $1,508,000
$754,001 - $1,131,000
$603,001 - $754,000
$452,001 - $603,000
$302,001 - $452,000
$151,001 - $302,000
$75,001 - $151,000
$0 - $75,000
0.4%
0.4%
0.0%
0.0%
0.3%
0.3%
0.4%
0.4%
3.3%
3.3%
13.4%
13.4%
44.7%
44.7%
31.2%
31.2%
6.3%
6.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Low for ME

Value Relative To Nation

Number Of Homes And Apartments:
7,100

Waterville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ME*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
112.54% 3.41%
2
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,432 / per month

Homeownership Rate

Owners
Renters
Vacant
39.9%
39.9%
60.1%
60.1%
7.7%
7.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.2%
5.2%
31.5%
31.5%
28.8%
28.8%
34.5%
34.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
40.4%
40.4%
4.3%
4.3%
29.5%
29.5%
22.8%
22.8%
3.1%
3.1%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.6%
2.6%
23.4%
23.4%
31.8%
31.8%
28.3%
28.3%
9.9%
9.9%
4.0%
4.0%
0.0% 100.0%
% OF HOMES