The average monthly rent of apartments in Orono, ME is $2,196.
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Rental prices in Orono, ME have decreased by 8.12% over the past year. The average rent moved from $2,390 to $2,196.
Compared to the national average rent of $1,741, the average rent in Orono, ME is $2,196.
The average monthly rent of apartments in Orono, ME is $2,196.
About 12% of apartment rents in Orono, ME range between $1,501-$2,000. Meanwhile, apartments around $2,001-$2,500 represent 27% of apartments. Around 19% of Orono’s apartments are in the $1,001-$1,500 price range. 2% of apartments are priced ≤ $1000. A share of 41% of apartment rentals in Orono are in the $2,501-$3,000 range.
The largest share of rentals in Orono, ME (41%) fall between $2,501-$3,000 per month. This suggests that most people succesfully find suitable apartments within this price.
The average rent in Orono, ME is $2,128.
In Orono 56% of the housing is rented out compared to 44% of homes are owned, according to the most recent Census Bureau estimates. 8% of Orono's apartments are found in large buildings of 50 units or more, 81% are located in smaller apartment complexes with less than 50 units, and 9% are single-family rentals.
The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Orono are about 28 years old, on average. Of these, 67% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.
Rental apartments in Orono come in a range of sizes and floorplans. Studio apartments represent 2% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 11% of the total apartments in the city, while 2-bedroom floorplans represent around 13% of all rentals in Orono. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.
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