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W W W. M A I N E B I Z . B I Z 21 Fact Book / Doing Business in Maine Q UA L I T Y O F L I F E 1 Based on real estate broker transactions. S O U R C E : Maine Real Estate Information System Inc. Studio One bedroom Two bedroom Three bedroom Four bedroom Five bedroom Five bedroom Bangor $802 $907 $1,166 $1,469 $1,672 $1,921 $1,827 Lewiston/Auburn $747 $834 $1,060 $1,393 $1,576 $1,759 $1,527 Portland $1,243 $1,448 $1,859 $2,344 $2,732 $2,940 $2,408 York/Kittery/South Berwick $1,115 $1,247 $1,642 $2,263 $2,797 $2,923 $2,544 Fair market rents for existing housing in Maine, by MSA Rates effective October 1, 2022 Amounts include the cost of utilities. S O U R C E : MaineHousing Fair market rent Gross rents for typical, non-substandard rental units occupied by recent movers in a local hous- ing market, established by the U.S. Department of Housing and Urban Development. Metropolitan statistical area (MSA) The Census Bureau defines a metropolitan area as a core area containing a large popu- lation nucleus, together with adjacent com- munities having a high degree of economic and social interaction with that core. The title of each MSA includes the names of up to three of its central cities. DEFINITIONS Annual home sales and median price, 2009–2022 1 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 $0 0 $100K 10K $50K 5K $150K 15K $200K 20K $250K 25K $300K 30K $350K 35K Median sales price Units sold A Different Way of Looking at Things dwmlaw.com dwmlaw.com | 800.727.1941 800.727.1941 In business, you have a lot to keep your eye on. Sometimes it's In business, you have a lot to keep your eye on. Sometimes it's hard to see the opportunities and the risks clearly. hard to see the opportunities and the risks clearly. That's where Drummond Woodsum can help. We use a team That's where Drummond Woodsum can help. We use a team approach – a small group of highly specialized attorneys focused approach – a small group of highly specialized attorneys focused on helping your business see what's ahead before you take that on helping your business see what's ahead before you take that next step. next step. It's extremely efficient and cost-effective, and an excellent way to It's extremely efficient and cost-effective, and an excellent way to get the legal insight you need when you need it. get the legal insight you need when you need it.