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 a population of 20,645, 8,910 total housing units (homes and apartments), and a median house value of $440,473, Westbrook real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Westbrook, accounting for 48.98% of the city's housing units. Other types of housing that are prevalent in Westbrook include large apartment complexes or high rise apartments ( 21.98%), duplexes, homes converted to apartments or other small apartment buildings ( 19.52%), and a few mobile homes or trailers ( 5.20%).
People in Westbrook primarily live in small (one, two or no bedroom) single-family detached homes. Westbrook has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Westbrook built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Westbrook built before 1939 ( 25.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.65%). There's also some housing in Westbrook built between 1940-1969 ( 22.03%).
Appreciation rates for homes in Westbrook have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 114.56%, which ranks in the top 30% nationwide. This equates to an annual average Westbrook house appreciation rate of 7.93%.
Over the last year, Westbrook appreciation rates have trailed the rest of the nation. In the last twelve months, Westbrook's appreciation rate has been 6.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westbrook were at -3.28%, which equates to an annual appreciation rate of -12.49%.
Notably, Westbrook's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Maine, our data show that Westbrook's latest annual appreciation rate is lower than 70% 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 Westbrook differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westbrook - 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 Westbrook real estate investment or home purchase decisions.
$440,473
for Maine
for nation
8,910
$2,400 / per month