Penobscot County, Maine Housing Market Prices
Penobscot County 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 32% below the Maine median$178,672
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Median rent 9% below the Maine median$1,041
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Penobscot County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,672 | $261,367 | $248,835 |
| Price Trend (Annual %) | 7.0% | 8.5% | 7.5% |
| Median Gross Rent | $1,041 | $1,139 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Penobscot County is about 32% lower than in Maine. Rent is about 9% 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 Penobscot County, up about 7.0% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Penobscot County rose about 41.8% between 2015 and 2024, from $734 to $1,041. Over the same span, rent in Maine rose about 46.7%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Penobscot County.
Buying the median-priced home in Penobscot County costs roughly 14.3 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 Penobscot County. The price-to-rent ratio in Maine is about 19.1.
| Metric | Penobscot County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,672 | $261,367 | $248,835 |
| Median Household Income | $66,372 | $74,723 | $80,455 |
| Price-to-Income Ratio | 2.7 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Penobscot County rose about 63.5%, while median household income rose about 47.2% 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 | Penobscot County | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.8% | 59.0% | 58.5% |
| Rental Rate | 25.4% | 20.4% | 31.2% |
| Vacancy Rate | 13.8% | 20.6% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Penobscot County has a homeownership rate of 60.8%, higher than the Maine average of 59.0%. Its housing vacancy rate is 13.8%, compared with 20.6% in Maine.
Housing Stock
| Metric | Penobscot County | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.25 people | 2.53 people |
| Median Structure Built Year | 1975 | 1974 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Penobscot County was built around 1975. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Penobscot County, ME Housing Compared With Nearby Counties
Penobscot County, ME is the largest of the 5 counties compared here, 154,700 residents against a local median of 48,326. Where Penobscot County, ME breaks from the counties next to it is median home price, sitting 31% below the local median of $260,265 at $178,672.
Median rent tells the same story from another angle: $1,041 against a local median of $902, 15% above it. The counties themselves spread $185,365 on median home price, so Penobscot County, ME sits at one end of an already wide local range rather than apart from it. Penobscot County, ME has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Penobscot County, ME | 154,700 | $178,672 #4/5 | $1,041 #2/5 | 70.5% #5/5 |
| Hancock County, ME | 56,460 | $345,205 | $1,060 | 78.5% |
| Waldo County, ME | 40,192 | $258,333 | $1,020 | 81.9% |
| Washington County, ME | 31,330 | $262,197 | $782 | 79.7% |
| Aroostook County, ME | 67,056 | $159,840 | $783 | 74.5% |
Frequently Asked Questions
Common questions about the housing market in Penobscot County, Maine.
What is the median home price in Penobscot County, Maine?
The median home price in Penobscot County, Maine is $178,672, lower than the Maine average of $261,367.
What is the average home price in Penobscot County, Maine?
The typical home price in Penobscot County, Maine, reported as the median sale price, is $178,672. 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 Penobscot County, Maine?
The median gross rent in Penobscot County, Maine is $1,041 per month, lower than the Maine average of $1,139.
What was the median gross rent in Penobscot County in 2020?
In 2020, the median gross rent in Penobscot County, Maine was $822 per month.
What is the price-to-rent ratio in Penobscot County, Maine?
The price-to-rent ratio in Penobscot County, Maine is about 14.3, meaning it would take roughly 14.3 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 Penobscot County.
Are home prices or rent rising faster in Penobscot County, Maine?
Both home prices and rent are rising in Penobscot County, up about 7.0% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Penobscot County, Maine?
60.8% of households in Penobscot County, Maine own their home, higher than the Maine average of 59.0%.
What is the vacancy rate in Penobscot County, Maine?
The housing vacancy rate in Penobscot County, Maine is 13.8%, lower than the Maine average of 20.6%.
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