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 | Sagadahoc County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $292,499 | $248,766 | $242,182 |
| Price Trend (Annual %) | 8.1% | 8.9% | 8.2% |
| Median Gross Rent | $1,050 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sagadahoc County is about 18% higher than in Maine. Rent is about 3% lower than the Maine average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Sagadahoc County, up about 8.1% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Sagadahoc County rose about 32.6% between 2015 and 2023, from $792 to $1,050. Over the same span, rent in Maine rose about 39.7%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Sagadahoc County.
Buying the median-priced home in Sagadahoc County costs roughly 23.2 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 Sagadahoc County. The price-to-rent ratio in Maine is about 19.1.
| Metric | Sagadahoc County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $292,499 | $248,766 | $242,182 |
| Median Household Income | $81,182 | $72,025 | $78,145 |
| Price-to-Income Ratio | 3.6 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sagadahoc County rose about 48.2%, while median household income rose about 46.0% between 2009 and 2023 — 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 | Sagadahoc County | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.8% | 58.4% | 58.2% |
| Rental Rate | 18.8% | 20.5% | 31.3% |
| Vacancy Rate | 15.4% | 21.1% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Sagadahoc County has a homeownership rate of 65.8%, higher than the Maine average of 58.4%. Its housing vacancy rate is 15.4%, compared with 21.1% in Maine.
Housing Stock
| Metric | Sagadahoc County | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.27 people | 2.54 people |
| Median Structure Built Year | 1974 | 1973 | 1978 |
| Median Number of Rooms | 5.8 | 5.5 | 5.5 |
The typical housing unit in Sagadahoc County was built around 1974. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sagadahoc County, Maine.
What is the median home price in Sagadahoc County, Maine?
The median home price in Sagadahoc County, Maine is $292,499, higher than the Maine average of $248,766.
What is the average home price in Sagadahoc 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 Sagadahoc County, Maine?
The median gross rent in Sagadahoc County, Maine is $1,050 per month, lower than the Maine average of $1,084.
What was the median gross rent in Sagadahoc County in 2020?
In 2020, the median gross rent in Sagadahoc County, Maine was $895 per month.
What is the price-to-rent ratio in Sagadahoc County, Maine?
The price-to-rent ratio in Sagadahoc County, Maine is about 23.2, meaning it would take roughly 23.2 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 Sagadahoc County.
Are home prices or rent rising faster in Sagadahoc County, Maine?
Both home prices and rent are rising in Sagadahoc County, up about 8.1% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sagadahoc County, Maine?
65.8% of households in Sagadahoc County, Maine own their home, higher than the Maine average of 58.4%.
What is the vacancy rate in Sagadahoc County, Maine?
The housing vacancy rate in Sagadahoc County, Maine is 15.4%, lower than the Maine average of 21.1%.