The housing market in Penobscot, ME has seen a significant jump in the median value of houses over the past year. The median value is currently listed at $301,800 - far above the US House Median Value of $338,100. This increase is reflected in the US 1 Year House appreciation rate of 8.27%, and an even higher appreciation rate for Penobscot, ME of 15.29%. It appears that homeowners in this area are seeing a great return on their investment as the value of their house continues to grow.
The median home cost in Penobscot is $301,800. Home appreciation the last 10 years has been 79.9%. Home Appreciation in Penobscot is up 19.0%.
Average Age of Homes
- The median age of Penobscot real estate is 34 years old
The Rental Market in Penobscot
- Renters make up 11.7% of the Penobscot population
- 0.9% of houses and apartments in Penobscot, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.