Bangor, ME—04401
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bangor, ME
As of Oct '25, the median home price in Bangor, ME is $292,000, with a year-over-year change of 3.0%. This indicates that home prices in Bangor, ME are increasing. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $292,000 | 3.0% |
| Single Family | $295,000 | 3.1% |
| Condos | $259,000 | 5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $189,000 | 0.5% |
2 Bed | $234,000 | 3.1% |
3 Bed | $293,000 | 2.8% |
4 Bed | $351,000 | 3.2% |
| 5 Bed | $414,000 | 3.8% |
% of Housing Stock
Rental Trends — Bangor, ME
As of July '25, Rentcast reports the average rent in Bangor, ME is $1,540, with a year-over-year rent change of -6.7%. Per bedroom, the median rent as of July '25 in Bangor, ME is studios: $905, 1-bedrooms: $1,270, 2-bedrooms: $1,620, 3-bedrooms: $1,920, 4-bedrooms: $2,030. The most common rental property sizes in Bangor, ME are 2-bedroom and 1-bedroom, accounting for 37.4% and 32.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,540 |
| Studio Rent | $900 | $905 |
| 1 Bed Rent | $1,150 | $1,270 |
| 2 Bed Rent | $1,600 | $1,620 |
| 3 Bed Rent | $1,890 | $1,920 |
| 4 Bed Rent | $2,100 | $2,030 |
% of Rental Stock
Property Listings — Bangor, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Bangor, ME is 60. This is a increase of 3.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $342,000 | -7.0% |
Listing Count | 164 | 36.0% |
| Listings as % of Homes | 0.3% | 36.0% |
Days on Market | 60 | 3.0% |
Demographics — Bangor, ME
As of the latest ACS Survey released in 2023, Bangor, ME has a population of 44,400, which has remained stable by -0.3% over the past 5 years. Bangor, ME is a moderately popular place for families, as children make up 18.6% of the population. The area has a moderately educated workforce, with 36.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 44,400 | -0.3% |
% Under 18 | 18.6% | -2.1% |
% Seniors | 19.2% | 28.0% |
% WFH | 9.9% | 135.7% |
% w/ College Degree | 36.6% | 9.6% |
As of the latest ACS Survey released in 2023, Bangor, ME is a predominantly white area, with 88.0% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Bangor, ME is hispanic, making up 3.4% of the population. Foreign-born residents account for 4.6% of the population in Bangor, ME, and this percentage has increased by 21.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.0% | -4.1% |
% Black | 2.2% | 57.1% |
% Hispanic | 3.4% | 112.5% |
% Asian | 1.6% | -11.1% |
% Foreign Born | 4.6% | 21.1% |
Mortgage and Risk — Bangor, ME
According to HUD data as of 2023, there were 831 mortgage originations in Bangor, ME, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Bangor, ME. Investor activity is low, as 4.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 831 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Bangor, ME
As of 2024, the percent of homes in Bangor, ME under the Section 8 program is 12.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Bangor, ME, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,706 |
Total Units Section 8 | 1,110 |
% Rentals under Section 8 | 12.6% |
% Occupied Section 8 | 91.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,150 | $1,090 |
| 2 Bedroom | -$210 | $1,600 | $1,390 |
| 3 Bedroom | -$110 | $1,890 | $1,780 |
| 4 Bedroom | -$250 | $2,100 | $1,850 |
Affordability — Bangor, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $292,000 |
| Median Household Income | $66,100 |