Portland Maine Residential Rent and Rental Statistics
The median monthly gross residential rent in Portland, ME (the Portland-South Portland-Biddeford metro area) was $1,102 in 2019 according to the Census ACS survey.1 Average gross rent in Portland was $1,054 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Portland median and average rent data will be released in September of 2021.
Data is also available below for Portland rental vacancy rates, Portland rent as a percent of median income and the fraction of renters in Portland.
Real Gross Rent in Portland Maine (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Maine Median Gross Rent | $870 | +1.87% | +4.19% |
| Portland, ME Median Gross Rent | $1,102 | +1.38% | +10.09% |
Portland, ME Real Gross Rent Trends
At $1,102, real median gross rent in Portland was at its highest level in 2019 since the series began in 2005. Average gross rent for Portland peaked in real terms in 2018 at $1,069 and is now $15 (1.40%) lower.
Real Gross Rent in Portland: Portland ME Median, Portland ME Average, Maine Median, US Median
Real Gross Rent History for Portland
| Date | US Median |
Maine Median |
Portland, ME Median |
Portland, ME Average |
|---|---|---|---|---|
| 2019 | $1,097 | $870 | $1,102 | $1,054 |
| 2018 | $1,077 | $854 | $1,087 | $1,069 |
| 2017 | $1,043 | $831 | $1,021 | $1,000 |
| 2016 | $1,027 | $835 | $1,001 | $977 |
| 2015 | $1,017 | $840 | $1,016 | $1,011 |
| 2014 | $986 | $819 | $967 | $959 |
| 2013 | $953 | $800 | $950 | $933 |
| 2012 | $940 | $791 | $948 | $935 |
| 2011 | $941 | $807 | $958 | $953 |
| 2010 | $955 | $790 | $931 | $914 |
| 2009 | $960 | $823 | $993 | $978 |
| 2007 | $927 | $764 | $918 | $887 |
| 2005 | $910 | $779 | $944 | $918 |
Portland Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Portland Maine was 4.45% according to Census ACS data.
Rental Vacancy Rate in Portland Maine
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Maine | 4.95% | -0.33% | -1.79% |
| Portland, ME | 4.45% | +0.22% | -1.46% |
Trends in Portland, ME Rental Vacancy Rate
The rental vacancy rate in Portland peaked in 2010 at 9.42%. Since then it has fallen by 4.97% to 4.45%. Data records for this series originated in 2005. From a 2018 post peak low of 4.23%, the rental vacancy rate has increased by 0.22%.
Rental Vacancy Rate: Portland ME, Maine, US
Historical Rental Vacancy Rate data for Portland
| Date | US | Maine | Portland, ME |
|---|---|---|---|
| 2019 | 5.97% | 4.95% | 4.45% |
| 2018 | 6.15% | 5.28% | 4.23% |
| 2017 | 6.18% | 8.41% | 7.42% |
| 2016 | 5.89% | 6.74% | 5.91% |
| 2015 | 5.85% | 5.29% | 4.59% |
| 2014 | 6.32% | 7.07% | 6.06% |
| 2013 | 6.49% | 7.17% | 6.33% |
| 2012 | 6.77% | 6.25% | 4.99% |
| 2011 | 7.40% | 7.67% | 7.25% |
| 2010 | 8.17% | 8.75% | 9.42% |
| 2009 | 8.43% | 7.36% | 8.50% |
| 2007 | 7.87% | 8.13% | 9.09% |
| 2005 | 7.74% | 7.41% | 7.69% |
Rent as a Fraction of Income
Using median household income data for Portland, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Portland, median monthly gross rent as a fraction of median household income was 18.39% in 2019 according to the ACS.
Portland Maine Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Maine | 17.72% | -0.39% | -0.30% |
| Portland, ME | 18.39% | +0.08% | +0.30% |
Trends in Portland, ME Rent as a Fraction of Income
The fraction of median Portland household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 19.91%. Since then it has fallen by 1.52% to 18.39%. From a 2017 low of 17.33%, the fraction of income going to rent has increased by 1.06%.
Fraction of Income towards Rent: Portland ME, Maine, US
Historical Data for Annual Rent as a Fraction of Income in Portland Maine
| Date | US | Maine | Portland, ME |
|---|---|---|---|
| 2019 | 20.03% | 17.72% | 18.39% |
| 2018 | 20.50% | 18.11% | 18.31% |
| 2017 | 20.13% | 17.19% | 17.33% |
| 2016 | 20.43% | 18.02% | 18.09% |
| 2015 | 20.63% | 18.46% | 18.52% |
| 2014 | 20.89% | 18.83% | 18.45% |
| 2013 | 20.78% | 19.41% | 19.76% |
| 2012 | 20.65% | 19.11% | 19.91% |
| 2011 | 20.70% | 19.47% | 19.05% |
| 2010 | 20.50% | 18.52% | 17.68% |
| 2009 | 20.12% | 18.94% | 19.41% |
| 2007 | 18.66% | 17.00% | 17.36% |
| 2005 | 18.89% | 17.47% | 18.18% |
Renter Fraction in Portland Maine
You can calculate the renter fraction in Portland in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Portland as a fraction of total Portland households. In 2019 28.81% of households were renters according to Census ACS data.
Portland Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Maine | 27.81% | -0.96% | -0.32% |
| Portland, ME | 28.81% | -0.83% | -1.38% |
Trends in the Portland, ME Renter Fraction
The Portland household renter fraction peaked in in 2005 at 30.57% and is now 1.76% below that level. From a recent low of 26.77% in 2017, the household based renter fraction has now grown by 2.04%. The origin year for the series is 2005.
Fraction of Renting Households: Portland ME, Maine, US
History of Portland Renter Fraction
| Date | US | Maine | Portland, ME |
|---|---|---|---|
| 2019 | 35.89% | 27.81% | 28.81% |
| 2018 | 36.05% | 28.77% | 29.64% |
| 2017 | 36.13% | 26.83% | 26.77% |
| 2016 | 36.88% | 28.13% | 30.19% |
| 2015 | 36.97% | 29.00% | 29.43% |
| 2014 | 36.90% | 28.68% | 29.49% |
| 2013 | 36.50% | 29.84% | 30.43% |
| 2012 | 36.09% | 28.59% | 30.22% |
| 2011 | 35.42% | 29.05% | 30.48% |
| 2010 | 34.65% | 27.32% | 27.89% |
| 2009 | 34.13% | 27.26% | 28.70% |
| 2007 | 32.80% | 26.05% | 26.86% |
| 2005 | 33.10% | 28.21% | 30.57% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
