Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Androscoggin County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,741 | $248,766 | $242,182 |
| Price Trend (Annual %) | -0.2% | 8.9% | 8.2% |
| Median Gross Rent | $966 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Androscoggin County is about 51% lower than in Maine. Rent is about 11% lower than the Maine average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Androscoggin County: home prices fell about 0.2% a year while rent rose about 4.4% a year. That is an unusual pattern worth watching.
Median rent in Androscoggin County rose about 36.0% between 2015 and 2023, from $710 to $966. Over the same span, rent in Maine rose about 39.7%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Androscoggin County.
Buying the median-priced home in Androscoggin County costs roughly 10.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Androscoggin County. The price-to-rent ratio in Maine is about 19.1.
| Metric | Androscoggin County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,741 | $248,766 | $242,182 |
| Median Household Income | $66,929 | $72,025 | $78,145 |
| Price-to-Income Ratio | 1.8 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Androscoggin County fell about 9.4%, while median household income rose about 52.7% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Androscoggin County | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.6% | 58.4% | 58.2% |
| Rental Rate | 30.3% | 20.5% | 31.3% |
| Vacancy Rate | 7.1% | 21.1% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Androscoggin County has a homeownership rate of 62.6%, higher than the Maine average of 58.4%. Its housing vacancy rate is 7.1%, compared with 21.1% in Maine.
Housing Stock
| Metric | Androscoggin County | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.27 people | 2.54 people |
| Median Structure Built Year | 1969 | 1973 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Androscoggin County was built around 1969. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Androscoggin County, Maine.
What is the median home price in Androscoggin County, Maine?
The median home price in Androscoggin County, Maine is $120,741, lower than the Maine average of $248,766.
What is the average home price in Androscoggin County, Maine?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Androscoggin County, Maine?
The median gross rent in Androscoggin County, Maine is $966 per month, lower than the Maine average of $1,084.
What was the median gross rent in Androscoggin County in 2020?
In 2020, the median gross rent in Androscoggin County, Maine was $770 per month.
What is the price-to-rent ratio in Androscoggin County, Maine?
The price-to-rent ratio in Androscoggin County, Maine is about 10.4, meaning it would take roughly 10.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Androscoggin County.
Are home prices or rent rising faster in Androscoggin County, Maine?
Home prices and rent are moving in opposite directions in Androscoggin County: home prices fell about 0.2% a year while rent rose about 4.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Androscoggin County, Maine?
62.6% of households in Androscoggin County, Maine own their home, higher than the Maine average of 58.4%.
What is the vacancy rate in Androscoggin County, Maine?
The housing vacancy rate in Androscoggin County, Maine is 7.1%, lower than the Maine average of 21.1%.