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 20,645 people, 8,910 houses or apartments, and a median cost of homes of $460,470, Westbrook real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Westbrook, accounting for 48.98% of the city's housing units. Other types of housing that are prevalent in Westbrook include large apartment complexes or high rise apartments ( 21.98%), duplexes, homes converted to apartments or other small apartment buildings ( 19.52%), and a few mobile homes or trailers ( 5.20%).
People in Westbrook primarily live in small (one, two or no bedroom) single-family detached homes. Westbrook has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Westbrook 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 Westbrook built before 1939 ( 25.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.65%). There's also some housing in Westbrook built between 1940-1969 ( 22.03%).
In the last 10 years, Westbrook has experienced some of the highest home appreciation rates of any community in the nation. Westbrook real estate appreciated 124.44% over the last ten years, which is an average annual home appreciation rate of 8.42%, putting Westbrook in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westbrook definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Westbrook that despite a nationwide downturn in the housing market, Westbrook real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westbrook appreciation rates continue to be some of the highest in America, at 11.61%, which is higher than appreciation rates in 98.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westbrook. Westbrook appreciation rates in the latest quarter were at 3.59%, which equates to an annual appreciation rate of 15.16%.
Importantly, this makes Westbrook 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 Westbrook's latest annual appreciation rate is higher than 70% 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 Westbrook differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westbrook - 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 Westbrook real estate investment or home purchase decisions.
$460,470
for Maine
for nation
8,910
$2,366 / per month