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 | Washington County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,471 | $248,766 | $242,182 |
| Price Trend (Annual %) | 15.6% | 8.9% | 8.2% |
| Median Gross Rent | $767 | $1,084 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Washington County is about 14% lower than in Maine. Rent is about 29% 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 Washington County, up about 15.6% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Washington County rose about 29.5% between 2015 and 2023, from $593 to $767. Over the same span, rent in Maine rose about 39.7%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Washington County.
Buying the median-priced home in Washington County costs roughly 23.3 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 Washington County. The price-to-rent ratio in Maine is about 19.1.
| Metric | Washington County | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,471 | $248,766 | $242,182 |
| Median Household Income | $53,164 | $72,025 | $78,145 |
| Price-to-Income Ratio | 4.0 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Washington County rose about 86.0%, while median household income rose about 54.5% 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 | Washington County | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.3% | 58.4% | 58.2% |
| Rental Rate | 14.1% | 20.5% | 31.3% |
| Vacancy Rate | 35.5% | 21.1% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Washington County has a homeownership rate of 50.3%, lower than the Maine average of 58.4%. Its housing vacancy rate is 35.5%, compared with 21.1% in Maine.
Housing Stock
| Metric | Washington County | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.27 people | 2.54 people |
| Median Structure Built Year | 1975 | 1973 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in Washington County was built around 1975. On average, 2.2 people live in a home with about 5.3 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Washington County, Maine.
What is the median home price in Washington County, Maine?
The median home price in Washington County, Maine is $214,471, lower than the Maine average of $248,766.
What is the average home price in Washington 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 Washington County, Maine?
The median gross rent in Washington County, Maine is $767 per month, lower than the Maine average of $1,084.
What was the median gross rent in Washington County in 2020?
In 2020, the median gross rent in Washington County, Maine was $581 per month.
What is the price-to-rent ratio in Washington County, Maine?
The price-to-rent ratio in Washington County, Maine is about 23.3, meaning it would take roughly 23.3 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 Washington County.
Are home prices or rent rising faster in Washington County, Maine?
Both home prices and rent are rising in Washington County, up about 15.6% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Washington County, Maine?
50.3% of households in Washington County, Maine own their home, lower than the Maine average of 58.4%.
What is the vacancy rate in Washington County, Maine?
The housing vacancy rate in Washington County, Maine is 35.5%, higher than the Maine average of 21.1%.