Top Rental Markets in Maine

Top Rental Markets in Maine

The top rental markets in Maine are Portland and Millinocket.

The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.  

Maine Rental Trends: 

Maine is the northernmost state in New England with beautiful landscapes and great communities. Property investors won’t be disappointed in the strong numbers from cities in Maine. Here are some highlights from the top rental markets in the Pine Tree State.

Days on Market: 

The city with the lowest days on market is Millinocket at 13  – under the national average which sits at 15 days; Portland has the highest number of days on market at 15.


The top two towns for the largest amount of leads per listing are above or around the national average sitting at 38. Here they are:

  • Portland – 46 leads per listing
  • Millinocket – 22 leads per listing

Average Rent: (2 bedroom listings)

With the national average rent at $1,207 for a two-bedroom, Millinocket comes below that with the lowest average rent of $730 for a two-bedroom compared to the highest rent in Maine at $1,700 in Portland. 

Median Home Sale Price:

According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. Maine’s highest median sale price comes above that at $314,000 in Portland with its lowest median sale price at $65,000 in Millinocket.

Median Income: 

Maine’s median income rings in at $45,300 – above the national average at $48,500.

Security Deposit Trends: 

Security deposits have decreased in Maine’s cities between 2018 and 2019. With the largest being a decrease of -12.50% in Millinocket at $700, and the smallest decrease at -10.53% in Portland with the current average at around $1,700 – above the national average for security deposits which is $1,200.

Livability Score: 

All of Maine’s cities have a livability score of 66 or higher with the highest being Millinocket at 67!

Please visit here for our full methodology.

Whether you’ve found the best Maine investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.


Most Popular Posts

Interested in streamlining your rental process?

TurboTenant makes managing your property simple with features like one-click rental marketing, extensive online applications, and free credit & background checks for landlords.

Newsletter SignUp

TheKey is the weekly newsletter for landlords, by landlords.

Subscribe to get tips, news, and hacks for even the most seasoned landlords.

TurboTenant Blog

Read Our Latest Articles

landlord uses his landlord app to manage propeties on the go

The Best Landlord App in 2024

TurboTenant leads as the best landlord app of 2024, offering a suite of essential property management tools—from tenant screening to rent collection—designed to simplify landlord duties significantly, even for those managing multiple units or balancing other full-time jobs.

tenant using rent management software to easily look over rent payments

Rent Management Software: Past, Present, and Future

Explore the evolution of rent management from manual collections to the digital ease of today’s cloud-based software, with TurboTenant leading the future by integrating advanced features like AI, enhanced security, and multi-user access to streamline property management tasks.

landlord looking over an invoice to use in accounting software for property management

Best Property Management Accounting Software (2024)

TurboTenant emerges as the top choice in property management accounting software for 2024, offering intuitive, automated features like online rent payments and property advertising, all integrated with REI Hub for comprehensive financial management across unlimited units.

Join the 600,000+ independent landlords who rely on TurboTenant to create welcoming rental experiences.

No tricks or trials to worry about. So what’s the harm? Try it today!