Department of Numbers

Bangor Maine Residential Rent and Rental Statistics

The median monthly gross residential rent in Bangor, ME (the Bangor metro area) was $750 in 2016 according to the Census ACS survey.1 Average gross rent in Bangor was $752 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 Bangor median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Bangor 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%
Bangor, ME Median Gross Rent $750 +0.27% +1.08%

Bangor, ME Real Gross Rent Trends

Median gross rent for Bangor peaked in real terms in 2008 at $773 and is now $23 (2.98%) lower. At $752, real average gross rent in Bangor was at its highest level in 2016 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bangor

Date US
Median
Maine
Median
Bangor, ME
Median
Bangor, ME
Average
2016 $981 $797 $750 $752
2015 $972 $802 $748 $703
2014 $942 $782 $712 $691
2013 $910 $764 $742 $712
2012 $898 $756 $727 $714
2011 $898 $771 $701 $699
2010 $912 $754 $706 $677
2009 $916 $786 $728 $675
2008 $932 $794 $773 $702
2007 $885 $729 $697 $680
2006 $895 $746 $720 $711
2005 $869 $744 $689 $670

Bangor 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 Bangor Maine was 4.40% according to Census ACS data.

Rental Vacancy Rate in Bangor Maine

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Maine 6.74% +1.45% -0.43%
Bangor, ME 4.40% -1.65% -3.52%

Trends in Bangor, ME Rental Vacancy Rate

The rental vacancy rate in Bangor peaked in 2013 at 7.92%. Since then it has fallen by 3.52% to 4.40%. Data records for this series originated in 2005.

Rental Vacancy Rate: Bangor ME, Maine, US

Rental vacancy rate in Maine

Historical Rental Vacancy Rate data for Bangor

Date US Maine Bangor, ME
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%
2008 7.86% 7.13% 7.48%
2007 7.87% 8.13% 7.89%
2006 7.70% 5.85% 4.24%
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 19.02% in 2016 according to the ACS.

Bangor 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%
Bangor, ME 19.02% -1.03% -1.30%

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 1.61% to 19.02%.

Fraction of Income towards Rent: Bangor ME, Maine, US

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

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

Date US Maine Bangor, ME
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%
2008 19.00% 18.08% 19.09%
2007 18.66% 17.00% 18.03%
2006 18.90% 17.57% 18.77%
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 2016 28.57% of households were renters according to Census ACS data.

Bangor 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%
Bangor, ME 28.57% -2.83% -6.00%

Trends in the Bangor, ME Renter Fraction

The Bangor household renter fraction peaked in in 2012 at 34.89% and is now 6.32% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bangor ME, Maine, US

Fraction of renters in Bangor

History of Bangor Renter Fraction

Date US Maine Bangor, ME
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%
2008 33.36% 27.86% 32.37%
2007 32.80% 26.05% 26.74%
2006 32.73% 27.21% 28.01%
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.