V O L . X X X N O. X I X
78
Fact Book / Doing Business in Maine
WO R K F O R C E
Filling the need for multifamily housing
B y P e t e r V a n A l l e n
We hear all the time that Maine needs more multifamily housing. A look at the building permits issued
in 2022 shows the number of units approved actually hit a 20-year peak, according to U.S. Census Bureau
data. While the number of housing starts for 2023 matched up well with many years in the past two
decades, the number of multifamily units on the books dropped from 2023, with 72 structures of five units
or more — a total of 1,154 multifamily units.
8000
7000
6000
5000
4000
3000
2000
1000
0
$2B
$1.75B
$1.5B
$1.25B
$1B
$750M
$500M
$250M
0
S O U R C E : U.S. Census Bureau
BUILDING PERMITS FOR NEW, PRIVATELY OWNED HOUSING UNITS IN MAINE
MEMBER FDIC EQUAL HOUSING LENDER
Katahdin Trust is proud to be your banking partner
from 16 locations throughout Maine:
NORTHERN MAINE
Ashland – Caribou – Eagle Lake
Fort Fairfield – Fort Kent – Houlton
Island Falls – Mars Hill – Oakfield
Patten – Presque Isle – Van Buren
GREATER BANGOR
Broadway Shopping Center, Bangor
Springer Drive, Bangor
Western Avenue, Hampden
GREATER PORTLAND
US Route One, Scarborough
KatahdinTrust.com
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
3,249 3,699 4,010 4,358 4,697 4,760 5,304 6,530 7,094 6,183
1 unit 2 units 3–4 units 5+ units
total value
