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 | Waldo County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $261,932 | $248,766 | $242,182 |
| Price Trend (Annual %) | 9.8% | 8.9% | 8.2% |
| Median Gross Rent | $969 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Waldo County is about 5% higher than in Maine. Rent is about 11% 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 Waldo County, up about 9.8% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Waldo County rose about 30.3% between 2015 and 2023, from $744 to $969. Over the same span, rent in Maine rose about 39.7%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Waldo County.
Buying the median-priced home in Waldo County costs roughly 22.5 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 Waldo County. The price-to-rent ratio in Maine is about 19.1.
| Metric | Waldo County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $261,932 | $248,766 | $242,182 |
| Median Household Income | $68,794 | $72,025 | $78,145 |
| Price-to-Income Ratio | 3.8 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Waldo County rose about 81.1%, while median household income rose about 65.4% 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 | Waldo County | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.9% | 58.4% | 58.2% |
| Rental Rate | 15.1% | 20.5% | 31.3% |
| Vacancy Rate | 21.0% | 21.1% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Waldo County has a homeownership rate of 63.9%, higher than the Maine average of 58.4%. Its housing vacancy rate is 21.0%, compared with 21.1% in Maine.
Housing Stock
| Metric | Waldo County | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.27 people | 2.54 people |
| Median Structure Built Year | 1981 | 1973 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Waldo County was built around 1981. On average, 2.2 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Waldo County, Maine.
What is the median home price in Waldo County, Maine?
The median home price in Waldo County, Maine is $261,932, higher than the Maine average of $248,766.
What is the average home price in Waldo 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 Waldo County, Maine?
The median gross rent in Waldo County, Maine is $969 per month, lower than the Maine average of $1,084.
What was the median gross rent in Waldo County in 2020?
In 2020, the median gross rent in Waldo County, Maine was $795 per month.
What is the price-to-rent ratio in Waldo County, Maine?
The price-to-rent ratio in Waldo County, Maine is about 22.5, meaning it would take roughly 22.5 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 Waldo County.
Are home prices or rent rising faster in Waldo County, Maine?
Both home prices and rent are rising in Waldo County, up about 9.8% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Waldo County, Maine?
63.9% of households in Waldo County, Maine own their home, higher than the Maine average of 58.4%.
What is the vacancy rate in Waldo County, Maine?
The housing vacancy rate in Waldo County, Maine is 21.0%, lower than the Maine average of 21.1%.