Maine Housing Market Prices
Maine 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 5% above the US median$261,367
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Median rent 19% below the US median$1,139
Median Home Price Map: Counties in Maine
Housing Market Overview
| Metric | Maine | US Average |
|---|---|---|
| Median Home Price | $261,367 | $248,835 |
| Price Trend (Annual %) | 8.5% | 7.5% |
| Median Gross Rent | $1,139 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Maine is about 5% higher than in US. Rent is about 19% lower than the US 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 Maine, up about 8.5% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Maine rose about 46.7% between 2015 and 2024, from $776 to $1,139. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Maine.
Buying the median-priced home in Maine costs roughly 19.1 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 Maine. The price-to-rent ratio in US is about 14.7.
| Metric | Maine | US Average |
|---|---|---|
| Median Home Price | $261,367 | $248,835 |
| Median Household Income | $74,723 | $80,455 |
| Price-to-Income Ratio | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Maine rose about 94.0%, while median household income rose about 54.1% 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 | Maine | US Average |
|---|---|---|
| Homeownership Rate | 59.0% | 58.5% |
| Rental Rate | 20.4% | 31.2% |
| Vacancy Rate | 20.6% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 |
Maine has a homeownership rate of 59.0%, about the same as the US average of 58.5%. Its housing vacancy rate is 20.6%, compared with 10.2% in US.
Housing Stock
| Metric | Maine | US Average |
|---|---|---|
| Average Household Size | 2.25 people | 2.53 people |
| Median Structure Built Year | 1974 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 |
The typical housing unit in Maine was built around 1974. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Maine Housing Compared With Nearby States
Maine is typical in size for this group, 1,387,521 residents against a local median of 1,394,471, so the measures below are close to a like for like comparison. Where Maine breaks from the states next to it is median rent, sitting 23% below the local median of $1,481 at $1,139.
The states themselves spread $527 on median rent, so Maine sits at one end of an already wide local range rather than apart from it. Maine has the 6th highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Maine | 1,387,521 | $261,367 #5/6 | $1,139 #6/6 | 74.3% #1/6 |
| New Hampshire | 1,394,471 | $300,691 | $1,490 | 72.8% |
| Vermont | 646,793 | $207,791 | $1,234 | 73.2% |
| Massachusetts | 7,031,620 | $494,523 | $1,761 | 62.5% |
| Rhode Island | 1,100,398 | $360,248 | $1,341 | 63.6% |
| Connecticut | 3,347,044 | $281,244 | $1,481 | 67.4% |
Frequently Asked Questions
Common questions about the housing market in Maine.
What is the median home price in Maine?
The median home price in Maine is $261,367, higher than the US average of $248,835.
What is the average home price in Maine?
The typical home price in Maine, reported as the median sale price, is $261,367. 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 Maine?
The median gross rent in Maine is $1,139 per month, lower than the US average of $1,407.
What was the median gross rent in Maine in 2020?
In 2020, the median gross rent in Maine was $872 per month.
What is the price-to-rent ratio in Maine?
The price-to-rent ratio in Maine is about 19.1, meaning it would take roughly 19.1 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 Maine.
Are home prices or rent rising faster in Maine?
Both home prices and rent are rising in Maine, up about 8.5% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Maine?
59.0% of households in Maine own their home, higher than the US average of 58.5%.
What is the vacancy rate in Maine?
The housing vacancy rate in Maine is 20.6%, higher than the US average of 10.2%.
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