Maine Residential Rent and Rental Statistics
The median monthly gross residential rent in Maine was $870 in 2019 according to the Census ACS survey.1 Average gross rent was $850 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 Maine median and average rent data will be released in September of 2021.
Data is also available below for Maine rental vacancy rates, Maine rent as a percent of median income and the fraction of renters in Maine.
Real Gross Rent in 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% |
Maine Real Gross Rent Trends
At $870, real median gross rent in Maine was at its highest level in 2019 since the series began in 2005. Average gross rent for Maine peaked in real terms in 2018 at $853 and is now $3 (0.35%) lower.
Real Gross Rent in Maine: Median, Average, US Median
Real Gross Rent History for Maine
| Date | US Median | Maine Median | Maine Average |
|---|---|---|---|
| 2019 | $1,097 | $870 | $850 |
| 2018 | $1,077 | $854 | $853 |
| 2017 | $1,043 | $831 | $802 |
| 2016 | $1,027 | $835 | $819 |
| 2015 | $1,017 | $840 | $822 |
| 2014 | $986 | $819 | $797 |
| 2013 | $953 | $800 | $791 |
| 2012 | $940 | $791 | $789 |
| 2011 | $941 | $807 | $797 |
| 2010 | $955 | $790 | $760 |
| 2009 | $960 | $823 | $792 |
| 2007 | $927 | $764 | $740 |
| 2005 | $910 | $779 | $755 |
Maine 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 Maine was 4.95% according to Census ACS data.
Rental Vacancy Rate in Maine
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Maine | 4.95% | -0.33% | -1.79% |
Trends in Maine Rental Vacancy Rate
The rental vacancy rate in Maine peaked in 2010 at 8.75%. Since then it has fallen by 3.80% to 4.95%. Data records for this series originated in 2005.
Rental Vacancy Rate: Maine, US
Historical Rental Vacancy Rate data for Maine
| Date | US | Maine |
|---|---|---|
| 2019 | 5.97% | 4.95% |
| 2018 | 6.15% | 5.28% |
| 2017 | 6.18% | 8.41% |
| 2016 | 5.89% | 6.74% |
| 2015 | 5.85% | 5.29% |
| 2014 | 6.32% | 7.07% |
| 2013 | 6.49% | 7.17% |
| 2012 | 6.77% | 6.25% |
| 2011 | 7.40% | 7.67% |
| 2010 | 8.17% | 8.75% |
| 2009 | 8.43% | 7.36% |
| 2007 | 7.87% | 8.13% |
| 2005 | 7.74% | 7.41% |
Maine Rent as a Fraction of Income
Using median household income data for Maine, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Maine, median monthly gross rent as a fraction of median household income was 17.72% in 2019 according to the ACS.
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% |
Trends in Maine Rent as a Fraction of Income
The fraction of median Maine household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.47%. Since then it has fallen by 1.76% to 17.72%.
Fraction of Income towards Rent: Maine, US
Historical Data for Annual Rent as a Fraction of Income in Maine
| Date | US | Maine |
|---|---|---|
| 2019 | 20.03% | 17.72% |
| 2018 | 20.50% | 18.11% |
| 2017 | 20.13% | 17.19% |
| 2016 | 20.43% | 18.02% |
| 2015 | 20.63% | 18.46% |
| 2014 | 20.89% | 18.83% |
| 2013 | 20.78% | 19.41% |
| 2012 | 20.65% | 19.11% |
| 2011 | 20.70% | 19.47% |
| 2010 | 20.50% | 18.52% |
| 2009 | 20.12% | 18.94% |
| 2007 | 18.66% | 17.00% |
| 2005 | 18.89% | 17.47% |
Renter Fraction in Maine
You can calculate the renter fraction in Maine 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 Maine as a fraction of total Maine households. In 2019 27.81% of households were renters according to Census ACS data.
Maine 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% |
Trends in the Maine Renter Fraction
The Maine household renter fraction peaked in in 2013 at 29.84% and is now 2.03% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Maine, US
History of Maine Renter Fraction
| Date | US | Maine |
|---|---|---|
| 2019 | 35.89% | 27.81% |
| 2018 | 36.05% | 28.77% |
| 2017 | 36.13% | 26.83% |
| 2016 | 36.88% | 28.13% |
| 2015 | 36.97% | 29.00% |
| 2014 | 36.90% | 28.68% |
| 2013 | 36.50% | 29.84% |
| 2012 | 36.09% | 28.59% |
| 2011 | 35.42% | 29.05% |
| 2010 | 34.65% | 27.32% |
| 2009 | 34.13% | 27.26% |
| 2007 | 32.80% | 26.05% |
| 2005 | 33.10% | 28.21% |
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. ↩
