Around Maine, There’s a Shocking Trend in Rent Prices Right Now

Do you remember what you paid for your first apartment?

My very first apartment was my freshman year of college. I was going to University of Maine at Augusta, majoring in music. At the time, UMA had no form of student housing, which meant my roommates and I had to find our own place. We ended up living on Water Street in 3-bedroom pad.

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Sure, maybe it was kind of a dump, but it was $400 a month, everything included... For a 3-bedroom apartment! My next spot the following summer was when I moved to Portland. Even then, for a studio it was $375 a month, with all utilities included. Even ten years later, studio prices had only gone up about $150 per month. These days? Yikes...

Affordable apartments in Maine seem to be long gone.

I can't imagine what any of those spots are going for these days. You hear stories all the time. And while I understand that rents are going up everywhere, they seem to be skyrocketing in the big cities at a much faster rate. Around the state, on average a studio will now cost you at least $969 a month, according to RentalRealEstate.com.

But what's a bit crazier, is that Portland rents seem to be moving northward at a much faster rate than other areas of Maine. While the average studio runs $969, one in Portland will likely start in the neighborhood of $1250 a month. I've seen listings online for much higher than that.

Is it better in other areas nearby?

Just 30-ish minutes up the road from Portland in the Lewiston - Auburn area, that same studio apartment could start around $750 a month. 30 minutes of drive time really is worth another $500? Bangor comes in right around $800 a month. If you start comparing rents to mortgages, why would anyone even rent?

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Granted, I bought pre-pandemic, but my mortgage easily runs hundreds of dollars a month lower than most rents, anywhere in Maine. Maine has the 16th highest rent in the US. It's no wonder that so many people feel left out in the cold, just on the most basic need of all.

Add the potential for shady, greedy landlords looking to pack in the dollars, it seems hopeless at times to even try to make ends meet in Maine. I think I feel like many folks... I love it here and don't want to live anywhere else, but it's tough to live in a state that doesn't seem to want anyone to be able to afford to live here.

You may want to avoid these things... Some are kind of icky.