Saco, Maine Housing Market Prices
Saco 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 104% above the Maine median$534,482
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Median rent 10% above the Maine median$1,248
Housing Market Overview
| Metric | Saco | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $534,482 | $261,367 | $248,835 |
| Price Trend (Annual %) | 11.4% | 8.5% | 7.5% |
| Median Gross Rent | $1,248 | $1,139 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Saco is about 104% higher than in Maine. Rent is about 10% higher 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 Saco, up about 11.4% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Saco rose about 39.7% between 2015 and 2024, from $893 to $1,248. Over the same span, rent in Maine rose about 46.7%.
Affordability
On average, housing unit costs 5.9 yearly household incomes in Saco.
Buying the median-priced home in Saco costs roughly 35.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Saco. The price-to-rent ratio in Maine is about 19.1.
| Metric | Saco | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $534,482 | $261,367 | $248,835 |
| Median Household Income | $90,773 | $74,723 | $80,455 |
| Price-to-Income Ratio | 5.9 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Saco rose about 36.0%, while median household income rose about 46.6% between 2009 and 2025 — 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 | Saco | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.4% | 59.0% | 58.5% |
| Rental Rate | 24.8% | 20.4% | 31.2% |
| Vacancy Rate | 8.8% | 20.6% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Saco has a homeownership rate of 66.4%, higher than the Maine average of 59.0%. Its housing vacancy rate is 8.8%, compared with 20.6% in Maine.
Housing Stock
| Metric | Saco | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.25 people | 2.53 people |
| Median Structure Built Year | 1982 | 1974 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Saco was built around 1982. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Saco, Maine.
What is the median home price in Saco, Maine?
The median home price in Saco, Maine is $534,482, higher than the Maine average of $261,367.
What is the average home price in Saco, Maine?
The typical home price in Saco, Maine, reported as the median sale price, is $534,482. 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 Saco, Maine?
The median gross rent in Saco, Maine is $1,248 per month, higher than the Maine average of $1,139.
What was the median gross rent in Saco in 2020?
In 2020, the median gross rent in Saco, Maine was $1,186 per month.
What is the price-to-rent ratio in Saco, Maine?
The price-to-rent ratio in Saco, Maine is about 35.7, meaning it would take roughly 35.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Saco.
Are home prices or rent rising faster in Saco, Maine?
Both home prices and rent are rising in Saco, up about 11.4% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Saco, Maine?
66.4% of households in Saco, Maine own their home, higher than the Maine average of 59.0%.
What is the vacancy rate in Saco, Maine?
The housing vacancy rate in Saco, Maine is 8.8%, lower than the Maine average of 20.6%.
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