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 a population of 5,643, 2,403 total housing units (homes and apartments), and a median house value of $342,244, Bridgton real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Bridgton, accounting for 74.09% of the town's housing units. Other types of housing that are prevalent in Bridgton include mobile homes or trailers ( 13.42%), duplexes, homes converted to apartments or other small apartment buildings ( 7.08%), and a few row houses and other attached homes ( 3.26%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bridgton. Owner-occupied housing accounts for 79.87% of Bridgton's homes, and 58.56% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Bridgton 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 Bridgton built between 2000 and later ( 21.44%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.15%). There's also some housing in Bridgton built before 1939 ( 11.29%).
A decent proportion of the Bridgton housing stock is seasonally occupied. That is, homes and condos in Bridgton are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Bridgton housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Bridgton has experienced some of the highest home appreciation rates of any community in the nation. Bridgton real estate appreciated 117.84% over the last ten years, which is an average annual home appreciation rate of 8.10%, putting Bridgton in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bridgton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Bridgton that despite a nationwide downturn in the housing market, Bridgton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bridgton appreciation rates continue to be some of the highest in America, at 11.61%, which is higher than appreciation rates in 98.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bridgton. Bridgton appreciation rates in the latest quarter were at 3.59%, which equates to an annual appreciation rate of 15.16%.
Importantly, this makes Bridgton one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Maine, our data show that Bridgton's latest annual appreciation rate is higher than 70% of the other cities and towns in Maine.
$342,244
for Maine
for nation
2,403
$1,823 / per month