Bangor, Maine Housing Market Prices
Bangor Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 25% below the Maine median$196,359
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Median rent 7% below the Maine median$1,055
Housing Market Overview
| Metric | Bangor | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $196,359 | $261,367 | $248,835 |
| Price Trend (Annual %) | 11.2% | 8.5% | 7.5% |
| Median Gross Rent | $1,055 | $1,139 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bangor is about 25% lower than in Maine. Rent is about 7% lower than the Maine average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bangor, up about 11.2% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Bangor rose about 41.2% between 2015 and 2024, from $747 to $1,055. Over the same span, rent in Maine rose about 46.7%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Bangor.
Buying the median-priced home in Bangor costs roughly 15.5 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bangor. The price-to-rent ratio in Maine is about 19.1.
| Metric | Bangor | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $196,359 | $261,367 | $248,835 |
| Median Household Income | $59,965 | $74,723 | $80,455 |
| Price-to-Income Ratio | 3.3 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bangor rose about 58.7%, while median household income rose about 44.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bangor | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.9% | 59.0% | 58.5% |
| Rental Rate | 48.0% | 20.4% | 31.2% |
| Vacancy Rate | 9.1% | 20.6% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Bangor has a homeownership rate of 42.9%, lower than the Maine average of 59.0%. Its housing vacancy rate is 9.1%, compared with 20.6% in Maine.
Housing Stock
| Metric | Bangor | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.02 people | 2.25 people | 2.53 people |
| Median Structure Built Year | 1961 | 1974 | 1978 |
| Median Number of Rooms | 4.9 | 5.5 | 5.5 |
The typical housing unit in Bangor was built around 1961. On average, 2.0 people live in a home with about 4.9 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bangor, Maine.
What is the median home price in Bangor, Maine?
The median home price in Bangor, Maine is $196,359, lower than the Maine average of $261,367.
What is the average home price in Bangor, Maine?
The typical home price in Bangor, Maine, reported as the median sale price, is $196,359. 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 Bangor, Maine?
The median gross rent in Bangor, Maine is $1,055 per month, lower than the Maine average of $1,139.
What was the median gross rent in Bangor in 2020?
In 2020, the median gross rent in Bangor, Maine was $834 per month.
What is the price-to-rent ratio in Bangor, Maine?
The price-to-rent ratio in Bangor, Maine is about 15.5, meaning it would take roughly 15.5 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bangor.
Are home prices or rent rising faster in Bangor, Maine?
Both home prices and rent are rising in Bangor, up about 11.2% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bangor, Maine?
42.9% of households in Bangor, Maine own their home, lower than the Maine average of 59.0%.
What is the vacancy rate in Bangor, Maine?
The housing vacancy rate in Bangor, Maine is 9.1%, lower than the Maine average of 20.6%.
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