Nearly 1 Out of Every 3 Homes in Maine is Investor-Owned

A big part of the American dream is owning a home. So many people plan, save and then buy a home as a portion of their life's work.

But for many hopeful homeowners in Maine, that part of the American dream has continued to be out of reach.

The price for homes in Maine has skyrocketed over the last 10 years and when coupled with higher interest rates, purchasing a home seems impossible.

While it may be financially unreasonable for the average person, the market conditions have favored investors.

Which has led to Maine leading the nation in a dubious category when it comes to home ownership.

Maine Leads The Country In Percentage of Investor-Owned Homes

According to Realtor.com, Maine leads the entire nation in investor-owned homes. 31.1% of all the homes in Maine are owned by investors.

Investors can comes in all forms but specifically for Maine, many of those investors come in the form of individuals or small partnerships, not large conglomerates.

But with nearly one-third of Maine homes being owned by investors, there's been some problems brewing.

Those problems include rising prices for renters as well as bidding wards of middle-income families versus deep-pocketed investors on single family homes.

What Makes Maine So Attractive For Investors to Buy Homes

Maine isn't the only state where investors are buying up homes at a high rate. Other states include Vermont, Montana and Hawaii.

Those states don't necessarily have all that much in common other than they're all vacation destinations.

Rent-control initiatives as well as short-term rental ordinances are helping deter some investors but experts believe the investor-owned rate of homes in Maine will stay at about 1 in 3 for the foreseeable future.