Bangor Maine Residential Rent and Rental Statistics
The median monthly gross residential rent in Bangor, ME (the Bangor metro area) was $809 in 2019 according to the Census ACS survey.1 Average gross rent in Bangor was $773 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 Bangor median and average rent data will be released in September of 2021.
Data is also available below for Bangor rental vacancy rates, Bangor rent as a percent of median income and the fraction of renters in Bangor.
Real Gross Rent in Bangor 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% |
| Bangor, ME Median Gross Rent | $809 | +7.58% | +3.06% |
Bangor, ME Real Gross Rent Trends
Median gross rent for Bangor peaked in real terms in 2017 at $862 and is now $53 (6.15%) lower. Average gross rent for Bangor peaked in real terms in 2016 at $787 and is now $14 (1.78%) lower.
Real Gross Rent in Bangor: Bangor ME Median, Bangor ME Average, Maine Median, US Median
Real Gross Rent History for Bangor
| Date | US Median |
Maine Median |
Bangor, ME Median |
Bangor, ME Average |
|---|---|---|---|---|
| 2019 | $1,097 | $870 | $809 | $773 |
| 2018 | $1,077 | $854 | $752 | $759 |
| 2017 | $1,043 | $831 | $862 | $771 |
| 2016 | $1,027 | $835 | $785 | $787 |
| 2015 | $1,017 | $840 | $783 | $736 |
| 2014 | $986 | $819 | $745 | $723 |
| 2013 | $953 | $800 | $777 | $746 |
| 2012 | $940 | $791 | $762 | $748 |
| 2011 | $941 | $807 | $734 | $732 |
| 2010 | $955 | $790 | $740 | $708 |
| 2009 | $960 | $823 | $762 | $707 |
| 2007 | $927 | $764 | $730 | $712 |
| 2005 | $910 | $779 | $721 | $701 |
Bangor Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Bangor Maine was 8.37% according to Census ACS data.
Rental Vacancy Rate in Bangor Maine
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Maine | 4.95% | -0.33% | -1.79% |
| Bangor, ME | — | — | — |
Trends in Bangor, ME Rental Vacancy Rate
The rental vacancy rate in Bangor peaked in 2017 at 9.12%. Since then it has fallen by 0.75% to 8.37%. Data records for this series originated in 2005.
Rental Vacancy Rate: Bangor ME, Maine, US
Historical Rental Vacancy Rate data for Bangor
| Date | US | Maine | Bangor, ME |
|---|---|---|---|
| 2019 | 5.97% | 4.95% | — |
| 2018 | 6.15% | 5.28% | 8.37% |
| 2017 | 6.18% | 8.41% | 9.12% |
| 2016 | 5.89% | 6.74% | 4.40% |
| 2015 | 5.85% | 5.29% | 6.05% |
| 2014 | 6.32% | 7.07% | 6.08% |
| 2013 | 6.49% | 7.17% | 7.92% |
| 2012 | 6.77% | 6.25% | 3.17% |
| 2011 | 7.40% | 7.67% | 5.42% |
| 2010 | 8.17% | 8.75% | 6.15% |
| 2009 | 8.43% | 7.36% | 3.50% |
| 2007 | 7.87% | 8.13% | 7.89% |
| 2005 | 7.74% | 7.41% | 5.84% |
Rent as a Fraction of Income
Using median household income data for Bangor, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bangor, median monthly gross rent as a fraction of median household income was 19.24% in 2019 according to the ACS.
Bangor 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% |
| Bangor, ME | 19.24% | +0.46% | +0.23% |
Trends in Bangor, ME Rent as a Fraction of Income
The fraction of median Bangor household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 20.63%. Since then it has fallen by 1.38% to 19.24%.
Fraction of Income towards Rent: Bangor ME, Maine, US
Historical Data for Annual Rent as a Fraction of Income in Bangor Maine
| Date | US | Maine | Bangor, ME |
|---|---|---|---|
| 2019 | 20.03% | 17.72% | 19.24% |
| 2018 | 20.50% | 18.11% | 18.78% |
| 2017 | 20.13% | 17.19% | 19.92% |
| 2016 | 20.43% | 18.02% | 19.02% |
| 2015 | 20.63% | 18.46% | 20.05% |
| 2014 | 20.89% | 18.83% | 20.06% |
| 2013 | 20.78% | 19.41% | 20.31% |
| 2012 | 20.65% | 19.11% | 20.63% |
| 2011 | 20.70% | 19.47% | 20.06% |
| 2010 | 20.50% | 18.52% | 18.49% |
| 2009 | 20.12% | 18.94% | 20.12% |
| 2007 | 18.66% | 17.00% | 18.03% |
| 2005 | 18.89% | 17.47% | 16.99% |
Renter Fraction in Bangor Maine
You can calculate the renter fraction in Bangor 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 Bangor as a fraction of total Bangor households. In 2019 30.27% of households were renters according to Census ACS data.
Bangor 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% |
| Bangor, ME | 30.27% | -3.88% | +1.70% |
Trends in the Bangor, ME Renter Fraction
The Bangor household renter fraction peaked in in 2012 at 34.89% and is now 4.62% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Bangor ME, Maine, US
History of Bangor Renter Fraction
| Date | US | Maine | Bangor, ME |
|---|---|---|---|
| 2019 | 35.89% | 27.81% | 30.27% |
| 2018 | 36.05% | 28.77% | 34.15% |
| 2017 | 36.13% | 26.83% | 28.33% |
| 2016 | 36.88% | 28.13% | 28.57% |
| 2015 | 36.97% | 29.00% | 31.40% |
| 2014 | 36.90% | 28.68% | 31.49% |
| 2013 | 36.50% | 29.84% | 34.57% |
| 2012 | 36.09% | 28.59% | 34.89% |
| 2011 | 35.42% | 29.05% | 34.06% |
| 2010 | 34.65% | 27.32% | 30.73% |
| 2009 | 34.13% | 27.26% | 31.10% |
| 2007 | 32.80% | 26.05% | 26.74% |
| 2005 | 33.10% | 28.21% | 29.78% |
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. ↩
