Augusta, Maine Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Augusta, Maine rental market.
Augusta, Maine
Average Apartment Rent in April 2023
$1,112
Y-o-Y Change in Average
Apartment Rent
18.4%
Compared to a year ago, Augusta, Maine apartments have recorded a 18.4% rent increase.
Augusta, Maine |Average apartment rent trend
Augusta, Maine| Average apartment rent
Augusta, Maine | Apartment rent ranges
At 75%, apartments priced $1,000 - $1,500 represent the bulk of Augusta, Maine rentals, while condos priced $700 - $1000 hold the lowest share of the market – 25%.
Augusta, Maine | Housing tenure**
Renters take up 48% of Augusta, Maine real estate, occupying a total of 4,485 units, while homeowners live in 4,782 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$25,832
Average household size of renter-occupied housing units**
1.66
Rental vacancy rate**
4.9%
Augusta, Maine | Renter-occupied housing units by no. of bedrooms**
There are 1,728 rentals in Augusta, Maine with 1 bed making up the highest share of the market, at 39%. Units with 4 beds, on the other hand, hold the lowest percentage (3%), amounting to 140 units. Overall, the median number of rooms in Augusta, Maine homes for rent is 3.9.
Augusta, Maine |Renter-occupied units by age of householder**
Most condos for rent in Augusta, Maine are occupied by residents in the 45 - 54 years age group (19%), followed by those in the 25 - 34 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Augusta, Maine | Renter-occupied housing units by family type**
Augusta, Maine | Renter-occupied housing units by the presence of own children**
A total of 1,477 apartments for rent in Augusta, Maine, or 33% of all rentals are family households. Additionally, 20% of rental homes include children under the age of 18 – that’s 909 units. All in all, the median size of a renter-occupied household in Augusta, Maine is 1.66.
Augusta, Maine | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 18% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Augusta, Maine.
Augusta, Maine | Renter-occupied units by year structure built**
The highest share of Augusta, Maine apartment rentals, namely 27% or 1,227 units, were Built 1939 or earlier, followed by those Built 1980 - 1989 (21%, 947 units), and the ones Built 1970 - 1979 (20%, 916 units).
Augusta, Maine | Renter-occupied units by year householder moved in**
Median year renter moved into unit2014
Most Augusta, Maine renters (41%) moved in 2015 to 2016, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Augusta, Maine condos for rent is 2014.
Augusta, Maine | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 49% of Augusta, Maine renters have 1 vehicle available per household, 30% of them have No vehicle available, and 20% have 2 vehicles available.
Augusta, Maine | Means of transportation to work of householders living in renter-occupied housing units**
Augusta, Maine |Geographical mobility in the past year for householders living in renter-occupied housing units**
Augusta, Maine | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Augusta, Maine apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2020 American Community Survey 5-Year Estimates
