Maine Had 3rd Highest Rent Increase Across Nation In 2019
Is the rent too damn high in Maine? Well, new numbers would absolutely suggest the answer is yes. ApartmentGuide.com recently released their annual Rent Report and the findings should send some sticker shock down the spines of potential renters.
Apartment Guide found that in 2019, the price of a one-bedroom apartment rose by 23.9%. That equates to the average price for a one-bedroom apartment in Maine going for $1,469.83. While that may seem completely bonkers, if you look at the national average for a one-bedroom apartment, Maine still hasn't caught up. the national average is $1,586.84.
The price increase isn't just Portland exclusive either. Cities surrounding Portland have seen sizable increases in rent, including South Portland, Westbrook and Windham. Additionally, Biddeford, now has an average apartment price that surpasses Portland.
If all of this seems like living in Maine just isn't worth it, well, it's not just Maine. The entire Northeast is more expensive than any other region in the United States. The average one-bedroom in the northeast goes for $1,812.00, with the highest average coming from Massachusetts. In Massachusetts, the average one-bedroom goes for *gulp*, $2,552.04. Suddenly, Maine doesn't seem so expensive.
Rent is expected to increase in 2020 but not at the levels Maine saw in 2019. That may be music to potential renters ears.