Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 31,588 people, 13,982 houses or apartments, and a median cost of homes of $246,880, house prices in Bangor are solidly below the national average.
Single-family detached homes are the single most common housing type in Bangor, accounting for 39.19% of the city's housing units. Other types of housing that are prevalent in Bangor include duplexes, homes converted to apartments or other small apartment buildings ( 26.91%), large apartment complexes or high rise apartments ( 21.84%), and a few mobile homes or trailers ( 7.48%).
People in Bangor primarily live in small (one, two or no bedroom) single-family detached homes. Bangor has a mixture of owner-occupied and renter-occupied housing.
The housing in Bangor was primarily built before 1939 ( 39.89%), making the housing stock in Bangor some of the oldest overall in America, although there is a range of ages of homes in Bangor. The next most important housing age is between 1970-1999 ( 26.94%), followed by between 1940-1969 ( 21.77%). There's also some housing in Bangor built between 2000 and later ( 11.41%).
Bangor's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bangor during the period has been just 4.95%, which is lower than 80% of US communities.
Over the last year, Bangor appreciation rates have trailed the rest of the nation. In the last twelve months, Bangor's appreciation rate has been -3.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bangor were at -11.94%, which equates to an annual appreciation rate of -39.87%.
Notably, Bangor's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Maine, our data show that Bangor's latest annual appreciation rate is lower than 90% of the other cities and towns in Maine.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bangor differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bangor - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bangor real estate investment or home purchase decisions.
$246,880
for Maine
for nation
13,982
$1,572 / per month