Department of Numbers

Maine Residential Rent and Rental Statistics

The median monthly gross residential rent in Maine was $797 in 2016 according to the Census ACS survey.1 Average gross rent was $782 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Maine median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Maine (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Maine Median Gross Rent $797 -0.62% +4.32%

Maine Real Gross Rent Trends

Median gross rent for Maine peaked in real terms in 2015 at $802 and is now $5 (0.62%) lower. Average gross rent for Maine peaked in real terms in 2015 at $785 and is now $3 (0.38%) lower.

Real Gross Rent in Maine: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Maine

Date US Median Maine Median Maine Average
2016 $981 $797 $782
2015 $972 $802 $785
2014 $942 $782 $761
2013 $910 $764 $755
2012 $898 $756 $754
2011 $898 $771 $761
2010 $912 $754 $726
2009 $916 $786 $756
2008 $932 $794 $754
2007 $885 $729 $707
2006 $895 $746 $711
2005 $869 $744 $721

Maine Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Maine was 6.74% according to Census ACS data.

Rental Vacancy Rate in Maine

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Maine 6.74% +1.45% -0.43%

Trends in Maine Rental Vacancy Rate

The rental vacancy rate in Maine peaked in 2010 at 8.75%. Since then it has fallen by 2.01% to 6.74%. Data records for this series originated in 2005. From a 2015 post peak low of 5.29%, the rental vacancy rate has increased by 1.45%.

Rental Vacancy Rate: Maine, US

Rental vacancy rate in Maine

Historical Rental Vacancy Rate data for Maine

Date US Maine
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%
2008 7.86% 7.13%
2007 7.87% 8.13%
2006 7.70% 5.85%
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 18.02% in 2016 according to the ACS.

Maine Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Maine 18.02% -0.44% -1.40%

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 1.45% to 18.02%.

Fraction of Income towards Rent: Maine, US

Percent of median household income going towards median monthly gross rent in Maine

Historical Data for Annual Rent as a Fraction of Income in Maine

Date US Maine
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%
2008 19.00% 18.08%
2007 18.66% 17.00%
2006 18.90% 17.57%
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 2016 28.13% of households were renters according to Census ACS data.

Maine Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Maine 28.13% -0.87% -1.71%

Trends in the Maine Renter Fraction

The Maine household renter fraction peaked in in 2013 at 29.84% and is now 1.71% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Maine, US

Fraction of renters in Maine

History of Maine Renter Fraction

Date US Maine
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%
2008 33.36% 27.86%
2007 32.80% 26.05%
2006 32.73% 27.21%
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.