Maine Real Estate and Livability Trends
Taxable incomes in Maine have seen a steady climb from around $52,474.15 in 2013 to approximately $77,970.51 by 2021, hinting at possible economic improvements. Median home values increased from $173,800 in 2015 to $244,800 in 2022, outpacing national trends and suggesting strong market demand. Real estate taxes per return nearly doubled from $3,835.74 in 2012 to $6,528.21 in 2021, likely due to... Read more
Maine Market Trends
Median home values in Maine have climbed from $173,800 in 2015 to $244,800 in 2022, outpacing the national trend. This surge hints at a robust market with strong demand. Residential energy tax credits in Maine peaked at $2,970.39 in 2018, suggesting a noteworthy investment in home energy efficiency. Real estate taxes per return nearly doubled from $3,835.74 in 2012 to $6,528.21 in 2021, likely... Read more
Median Value of Occupied Housing Units in Maine Over the Last 8 Years
Median home values in Maine have been on a steady rise over the past eight years, with a significant jump from $173,800 in 2015 to $244,800 in 2022. Compared to the national trend, which saw values increase from $125,500 to $179,400 over the same period, Maine's housing market appears to be heating up more than the broader national market. For potential investors or those considering a move, Maine's increasing home values suggest a robust market, potentially indicating strong demand and a healthy real estate environment.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Maine over the last 10 years
Active Loans 30-60 Days Past Due in Maine over the last 10 years in Maine
Perent of loans that are Active Loans 90-180 Days Past Due in Maine over the last 10 years in Maine
Residential Energy Tax Credit Per Tax Return in Maine Over the Last 9 Years
Residential energy tax credits in Maine have shown a clear upward trajectory over the past nine years, with the average credit per tax return peaking notably in 2018 at $2,970.39. This surge suggests a heightened investment in energy-efficient home improvements during that year, likely driven by incentives or a significant policy change. While 2019 saw a dip to $1,093.42, the general trend remains upwards, making Maine an attractive market for real estate investors and developers focusing on energy-efficient properties. For insurers and appraisers, the increase in home energy investments might correlate with higher property values and lower risk profiles. Real estate agents can leverage this data to highlight the financial benefits of energy-efficient homes to prospective buyers.
Average Real Estate Taxes Per Tax Return in Maine Over the Last 10 Years
Maine's average real estate taxes per tax return have shown a notable upward trajectory over the past decade, climbing from around $3,835.74 in 2012 to approximately $6,528.21 in 2021. This consistent rise, with a particularly sharp increase between 2017 and 2019, can indicate growing property values or shifts in local tax policies. These trends are important for potential investors, new residents, appraisers, builders, real estate agents, and insurance professionals who should all be aware of increasing tax burdens that may impact property affordability and investment returns.
Percentage of Farm Returns in Maine Over the Last 10 Years
In Maine, the percentage of farm tax returns over the last decade has shown a gradual decline, decreasing from approximately 0.74% in 2012 to about 0.62% by 2021. Farm tax returns, essential for understanding agricultural economic health, reflect both the number of individuals and entities participating in the agriculture sector and their financial viability. The steady drop in these returns could hint at shrinking agricultural activity or profitability in the state, which may concern potential investors and residents focused on agribusiness. Those looking to invest or build property in rural areas should consider how these trends might influence land value and local economies.
Economic Outlook
Taxable incomes in Maine have steadily increased from around $52,474.15 in 2013 to approximately $77,970.51 by 2021, suggesting a potentially more affluent taxpayer base and possibly better economic conditions or wage growth. Average state and local income taxes per tax return jumped from around $6,682.50 in 2012 to approximately $16,963.10 by 2021, indicating either rising fiscal burdens or reflective changes in incomes and tax policies. Additionally, total tax liability per tax return rose... Read more
Average Taxable Income per Tax Return in Maine over the last 9 years
Taxable incomes in Maine have shown a steady increase over the last nine years. Starting from around $52,474.15 in 2013, they've climbed to approximately $77,970.51 by 2021. This growth indicates a potentially more affluent taxpayer base and could suggest better economic conditions or wage growth in the state, making it a compelling point for real estate agents, appraisers, and investors evaluating the market. Such trends might also influence new construction projects and insurance premiums due to the rising income levels.
Average State and Local Income Taxes Per Tax Return in Maine Over the Last 10 Years
Over the past decade in Maine, average state and local income taxes per tax return have seen a notable increase, rising from approximately $6,682.50 in 2012 to around $16,963.10 in 2021. There's a sharp uptick starting from 2017, escalating significantly through 2021. This trend might suggest increasing fiscal burdens for residents but could also mirror rising incomes or changes in tax policies. For investors, potential residents, and property developers, understanding these dynamics is key to making informed decisions about financial commitments in the region.
Average Total Tax Liability Per Tax Return in Maine Over the Last 10 Years
Over the past decade, Maine has seen a significant upward trend in average total tax liability per tax return, starting at approximately $7,803.71 in 2012 and rising to around $12,664.81 by 2021. This sustained increase could indicate a combination of rising incomes and potentially higher state taxes, factors that those looking to invest, move to, or do business in Maine might want to consider. This escalation underscores the importance of understanding the tax landscape for savvy real estate agents, property developers, and insurance agents to adequately appraise opportunities and risks in the market.
Cost of Living in Maine
Safety trends & Data
Maine's property crime landscape shows varied patterns, with fraud rates notably peaking at 4,606.00 cases in 2018 and staying prominent. Vandalism hit a five-year low with 862.00 incidents in 2022, while larceny-theft declined gradually but still recorded 354.00 incidents in 2021. Arson saw a notable spike in 2020 with 266.00 cases. Motor vehicle theft and burglary remain relatively low and stable, which may be indicative of effective targeted crime prevention. These trends are crucial for... Read more
Property Crime Trends in Maine Over the Last 5 Years
Maine has seen some fluctuations in property crime over the past five years. Fraud consistently dominates the statistics, peaking at 4,606.00 cases in 2018 and remaining high. Vandalism, another significant concern, reached a low of 862.00 cases in 2022. Larceny-theft, while showing a gradual decline, still presents notable numbers, with 354.00 incidents in 2021. Interestingly, arson incidents spiked in 2020 at 266.00 occurrences. Motor vehicle theft and burglary maintain relatively low and stable figures, suggesting targeted crime prevention may be effective in these areas. For real estate prospects, understanding these trends can guide investment decisions, highlight insurance needs, and underscore community safety efforts.
Demographics
Maine's adult population is almost evenly split between males and females, with a slight female majority. The state's educational attainment shows a notable portion of residents have completed professional degrees, yet there's a significant segment with only high school education or some college. Maine's age distribution highlights an older demographic, particularly in the 55-74 years range, which could indicate emerging needs in healthcare and retirement services. The racial composition of... Read more
Race Distribution in Maine (2022)
Educational Attainment in Maine (2022)
Age Distribution in Maine
Citizen Population in Maine (2022)
Political Trends & Data
Maine's 2020 U.S. Presidential Election results reveal a lean towards the Democratic party with about 52% of the vote, hinting at a potential preference for progressive policies. The Republican party received nearly 44%, indicating a strong conservative base. Third-party candidates, like Libertarians and Greens, collectively accounted for roughly 2.7%, showing some support for alternatives to the major parties. This diverse political spectrum might influence local legislative priorities and, in... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Maine, the 2020 U.S. Presidential Election saw a tilt towards the Democratic party with approximately 52% of the vote, indicating a possible preference for more progressive policies in this state. The Republican party garnered close to 44%, suggesting a significant, albeit smaller, conservative presence. Third-party candidates, including Libertarian and Green parties, captured a modest portion of around 1.7% and 1% respectively, showing limited, yet noticeable, support for alternative options beyond the two major parties. This distribution could hint at Maine's openness to a diverse political spectrum, albeit in smaller measures.
43.75% of voters voted for the Republican party in the 2020 Presidential Election
52.33% of voters voted for the Democrat party in the 2020 Presidential Election
1.70% of voters voted for the Libertarian party in the 2020 Presidential Election
0.99% of voters voted for the Green party in the 2020 Presidential Election
1.22% of voters voted for the Other party in the 2020 Presidential Election
School Data
Maine's student-to-teacher ratio has typically hovered around 11 students per teacher over the past decade, recently dipping to 10 students per teacher during 2021 and 2022, and slightly increasing to 10.77 in 2023. This is below the national average of 14, indicating potentially more personalized attention for students. This trend can appeal to those considering investing in property, relocating, or working in education, as lower ratios often correlate with better educational outcomes. For... Read more
Student-to-teacher ratio in Maine over the last 10 years
Over the past decade, the student-to-teacher ratio in Maine has generally hovered around 11 students per teacher, dipping below during 2021 and 2022 to around 10 students per teacher, before slightly increasing again in 2023 to 10.77. This is notably lower than the national average of 14 students per teacher, suggesting potentially more personalized attention for students in Maine's schools. This trend may appeal to those considering investing in property, moving to the area, or working in education, as a lower student-to-teacher ratio often correlates with better educational outcomes and increased community investment. Additionally, for real estate agents, lower ratios can be a selling point for families prioritizing quality education.
