Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 5,132 people, 1,981 houses or apartments, and a median cost of homes of $232,794, house prices in Bangor are solidly below the national average.
Single-family detached homes are the single most common housing type in Bangor, accounting for 47.23% of the borough's housing units. Other types of housing that are prevalent in Bangor include row houses and other attached homes ( 26.47%), duplexes, homes converted to apartments or other small apartment buildings ( 15.37%), and a few large apartment complexes or high rise apartments ( 10.92%).
The most prevalent building size and type in Bangor are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 62.24% owning and 37.76% renting.
The housing in Bangor was primarily built before 1939 ( 54.40%), making the housing stock in Bangor some of the oldest overall in America, although there is a range of ages of homes in Bangor. The next most important housing age is between 1940-1969 ( 36.54%), followed by between 1970-1999 ( 8.52%).
Vacant housing appears to be an issue in Bangor. Fully 10.20% of the housing stock is classified as vacant. Left unchecked, vacant Bangor homes and apartments can be a drag on the real estate market, holding Bangor real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Bangor's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bangor during the period has been just 5.55%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Bangor's appreciation rate, at 7.71%, has been at or slightly above the national average. In the latest quarter, Bangor's appreciation rate has been 4.93%, which annualizes to a rate of 21.23%.
Importantly, this makes Bangor one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Bangor's latest annual appreciation rate is higher than 60% of the other cities and towns in Pennsylvania.
$232,794
for Pennsylvania
for nation
1,981
$1,748 / per month