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 17,785 people, 6,043 houses or apartments, and a median cost of homes of $545,363, Gorham real estate is some of the most expensive in Maine, although Gorham home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Gorham, accounting for 77.25% of the town's housing units. Other types of housing that are prevalent in Gorham include duplexes, homes converted to apartments or other small apartment buildings ( 8.62%), mobile homes or trailers ( 6.45%), and a few large apartment complexes or high rise apartments ( 4.54%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gorham. Owner-occupied housing accounts for 74.01% of Gorham's homes, and 67.13% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Gorham built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Gorham built between 2000 and later ( 28.36%). A lesser amount of the housing stock also hails from before 1939 ( 16.87%). There's also some housing in Gorham built between 1940-1969 ( 13.19%).
Appreciation rates for homes in Gorham have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 115.32%, which ranks in the top 30% nationwide. This equates to an annual average Gorham house appreciation rate of 7.97%.
NeighborhoodScout's data show that during the latest twelve months, Gorham's appreciation rate, at 6.41%, has been at or slightly above the national average. In the latest quarter, Gorham's appreciation rate has been 1.39%, which annualizes to a rate of 5.67%.
Relative to Maine, our data show that Gorham's latest annual appreciation rate is higher than 70% of the other cities and towns in Maine.
$545,363
for Maine
for nation
6,043
$2,621 / per month