Portland, ME Rental Market
Portland is Maine's largest city and one of the fastest-growing cities in the Northeast, driven by extraordinary national recognition as a food, arts, and quality-of-life destination. Bon Appétit's "Restaurant City of the Year" designation and similar accolades have transformed Portland from a regional hub into a national destination, accelerating in-migration from Boston and New York City. Combined with Maine Medical Center — the state's largest hospital — and a growing technology and creative economy, Portland's rental market is posting 5.0% annual rent growth, the highest in our New England coverage.
Get a rent estimate for an address in PortlandAverage Rent in Portland, ME
$1,750
per month · 2026-06
Market Score
Key Facts — Portland, ME Rental Market
- Average rent in Portland, ME:$1,750/mo
- Median rent:$1,610/mo
- Rent range:$875 – $3,850/mo
- Most common rental (2 bedrooms):$1,550/mo
- Active listings:520
- Avg days to lease:27 days
- Year-over-year change:+5.0%
- Median home value:$450,000
- Est. gross annual yield:4.7%
- Data as of:2026-06
Rent by Bedroom in Portland, ME
Average monthly rent for each bedroom type based on current active listings in Portland.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $1,250/mo |
2 Bedrooms | $1,550/mo |
3 Bedrooms | $1,950/mo |
4 Bedrooms | $2,425/mo |
5 Bedrooms | $2,775/mo |
Portland Rental Market Statistics
Key indicators from the current Portland, ME rental market.
520
Available now in Portland
27
From list to lease
$1.37
Average across listings
1,275 sq ft
Typical rental size
$875 – $3,850
Min to max active listings
+5.0%
Avg rent vs. prior year
Investing in Portland, ME Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$450,000
Typical purchase price in Portland
Est. Gross Annual Yield
4.7%
Before expenses & vacancy
Avg Monthly Income
$1,750
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Portland for a full cash-flow breakdown including all costs.
Portland, ME Rental Market FAQ
Common questions about renting and investing in Portland, ME.
What is the average rent in Portland, ME?
The average rent in Portland, ME is $1,750 per month as of 2026. One-bedroom apartments average $1,250/mo, two-bedrooms average $1,550/mo, and three-bedroom homes average $1,950/mo. The Old Port, West End, and Munjoy Hill neighborhoods command the highest rents and see the fastest lease-up, while East Deering and the Riverton area offer more affordable options within the city limits.
Is Portland, ME a good place to invest in rental property?
Portland offers a 4.7% estimated gross annual yield with industry-leading 5.0% year-over-year rent growth — the highest in our entire New England coverage. Maine Medical Center, the state's largest hospital, combined with extraordinary national in-migration driven by Portland's food and lifestyle reputation, creates deep and growing rental demand. The constrained peninsula geography limits new supply, keeping vacancy very low and supporting continued above-average rent appreciation.
How competitive is the Portland, ME rental market?
Portland is the most competitive rental market in Maine, averaging just 27 days on market across approximately 520 active listings. Quality properties in the Old Port, West End, and Munjoy Hill neighborhoods routinely receive multiple applications within days of listing. The Boston-to-Portland in-migration pipeline — accelerated by remote work flexibility — means investors often compete against owner-occupants for acquisitions, driving median home values near $450,000 despite Portland's city size.
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