Penobscot County Maine Residential Rent and Rental Statistics
The median monthly gross residential rent in Penobscot County ME was $809 in 2019 according to the Census ACS survey.1 Average gross rent in Penobscot County 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 Penobscot County median and average rent data will be released in September of 2021.
Data is also available below for Penobscot County rental vacancy rates, Penobscot County rent as a percent of median income and the fraction of renters in Penobscot County.
Real Gross Rent in Penobscot County 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% |
| Penobscot County ME Median Gross Rent | $809 | +7.58% | +3.06% |
Penobscot County ME Real Gross Rent Trends
Median gross rent for Penobscot County peaked in real terms in 2017 at $862 and is now $53 (6.15%) lower. Average gross rent for Penobscot County peaked in real terms in 2016 at $787 and is now $14 (1.78%) lower.
Real Gross Rent: Penobscot County ME Median, Penobscot County ME Average, Maine Median, US Median
Real Gross Rent History for Penobscot County
| Date | US Median |
Maine Median |
Penobscot County ME Median |
Penobscot County 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 |
Penobscot County 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 Penobscot County Maine was 8.37% according to Census ACS data.
Rental Vacancy Rate in Penobscot County Maine
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Maine | 4.95% | -0.33% | -1.79% |
| Penobscot County ME | — | — | — |
Trends in Penobscot County ME Rental Vacancy Rate
The rental vacancy rate in Penobscot County 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: Penobscot County ME, Maine, US
Historical Rental Vacancy Rate data for Penobscot County
| Date | US | Maine | Penobscot County 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 Penobscot County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Penobscot County, median monthly gross rent as a fraction of median household income was 19.24% in 2019 according to the ACS.
Penobscot County 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% |
| Penobscot County ME | 19.24% | +0.46% | +0.23% |
Trends in Penobscot County ME Rent as a Fraction of Income
The fraction of median Penobscot County 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: Penobscot County ME, Maine, US
Historical Data for Annual Rent as a Fraction of Income in Penobscot County Maine
| Date | US | Maine | Penobscot County 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 Penobscot County Maine
You can calculate the renter fraction in Penobscot County 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 Penobscot County as a fraction of total Penobscot County households. In 2019 30.27% of households were renters according to Census ACS data.
Penobscot County 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% |
| Penobscot County ME | 30.27% | -3.88% | +1.70% |
Trends in the Penobscot County ME Renter Fraction
The Penobscot County 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: Penobscot County ME, Maine, US
History of Penobscot County Renter Fraction
| Date | US | Maine | Penobscot County 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. ↩
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