W W W. M A I N E B I Z . B I Z 15 M AY 2 , 2 0 2 2
F O C U S R E A L E S TAT E / C O N S T R U C T I O N / E N G I N E E R I N G
aine's housing shortage has been
a long time in the making, though
the pandemic deepened the problem.
With people fleeing cities, Maine has
seen an influx of new residents — home
buyers who are, in many cases, pay-
ing top dollar, in cash. Even before the
pandemic, Maine was seeing a housing
shortage. Much of the housing stock is
older and the last major building boom
ended in 2007. Even with a recent surge
in building permits, there is more demand
than supply. Add to that the shortage
of multifamily housing, including apart-
ments. Maine's median home price, as of
March 2022, was $325,000, a 21% jump
from a year earlier, according to Maine
Listings. According to the Zillow Home
Value Index, the median home value
in the United States was $374,900 in
June 2021, the most recent data avail-
able. How does Maine compare to other
states?
F O C U S S TA R T S O N F O L L OW I N G PA G E
»
M
THE TOP 10
NEW ENGLAND STATES AND THE LOWEST
H O M E P R I C E S A R O U N D T H E U . S .
Hawai
California
Washington
Massachusetts
Colorado
Utah
Oregon
New Jersey
Rhode Island
New York
$730,511
$638,996
$519,552
$518,203
$490,944
$465,012
$447,968
$408,517
$372,809
$371,880
Massachusetts
Rhode Island
New Hampshire
Connecticut
Maine
Vermont
$518,203
$372,809
$366,129
$318,096
$306,018
$299,998
Alabama
Oklahoma
Arkansas
Mississippi
West Virginia
$170,184
$150,754
$149,120
$140,818
$117,768
S O U R C E : Zillow Home Value Index, June 2021
