According to statistics, the population in Old Orchard Beach, ME amounts to 8,745, which shows decline 0% compared to the previous year. The median age of the city’s residents is 53. The average household income is $50,663, shifting growth 16% from the past year, and the average property value in Old Orchard Beach, ME growth 2% to $204,700 throughout the year.
|Number Of Employees||4,824|
|Median Property Value||$204,700|
The average household income in Old Orchard Beach, ME grew from $43,523 to $50,663 in the past year. This data is an estimate based upon 4,686 households in Old Orchard Beach, ME . The chart below presents how household income is distributed in Old Orchard Beach, ME in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Old Orchard Beach, ME shifted from $200,200 to $204,700 throughout the year. The subsequent graph indicates the share of properties in the given price range in Old Orchard Beach, ME in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Old Orchard Beach, ME properties falls in the '$200,000 to $249,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Old Orchard Beach, ME compared to median property taxes around the country. The prevalent amount of property taxes in Old Orchard Beach, ME equals $3000, which is less than the national average.
|May||vs Last Month|
|4+ bed apartments||$812,500||-35.8%|
During May 2023, the average price for an apartment in/near Old Orchard Beach, ME increased by 1.6% to $608,700.
The average price of the land for sale in Old Orchard Beach, ME has not changed significantly since last month, being $95,000. After collecting all data points, we now see that the average price for 1-bed apartment increased by 25.4% to $395,000. Asking price for 2-bed apartment also increased by 44.8% and a place of this size will now cost you $615,190. A 3-bed apartment goes for $349,900, it decreased by 23.9% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 35.8% and made it down to $812,500.
|May||vs Last Month|
|Houses for sale||$546,316||-28.2%|
|Condos for sale||$655,488||+24.7%|
While assessing the property pricing Old Orchard Beach, ME, you can note that it remains flat with a price tag of $95,000. Price reports demonstrate that house price decreased by 28.2% this month making it up to $546,316. Condos are really in demand in this season. The median price for a condo increased by 24.7%, it’s now available for $655,488.