Rent To Own Homes in Orono, ME

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Home Value Estimator For Orono, ME

There are currently 1,404 real estate properties in Orono, ME, with a median automated valuation model (AVM) price of $308,121.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Orono, ME, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Orono, ME, is $318,511.00, with the most expensive house in Orono, ME, topping out at $3,761,880.00 and the cheapest home in Orono, ME, clocking in at $14,664.00. In other words, there’s something for every potential homebuyer or savvy investor in Orono, ME!

Rent Prices In Orono, ME

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Orono, ME, is on a rollercoaster ride. The average rent price in Orono, ME, is $1,581.00. Indeed, when looking to rent in Orono, ME, you can expect to pay as little as $1,030.00 or as much as $2,090.00, with the average rent median estimated to be $1,850.00. The good news is that finding an affordable and desirable property to rent in Orono, ME -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Orono, ME In 2024

Orono is located in Penobscot, Maine, with an estimated municipal population of 10,776 residents. All of the best foreclosed homes for sale in Orono are located in the following zip code areas on 04473 04469. The estimated population per square kilometer (.62 miles) in Orono is 228.

Cost Of Living In Orono, ME

So, about how much do homes cost in Orono? The most recent median value of resident-owned homes in Orono is 176,042. An estimated 50.4 percent of households in Orono own their homes, with an average family size of 2.81. The median household income in Orono is 47,528, with23.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Orono, the median commute time of resident workers (in minutes) is 15.5. And last, but certainly not least, are you looking for homes to rent in Orono? If so, the average rent price paid by renters in Orono is 921, according to recent statistics.

Diversity And Demographics In Orono, Maine

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Orono, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Orono is 21.9, split between 52.5 percent male versus 47.5 female. The percentage of residents who report being married in Orono is 20.9, with an average family size of 2.81.

The percentage of residents who report their race in Orono is as follows:

White 89.5%
Black / African American 2.5%
Asian 3.8%
American Indian / Alaskan Native 0.2%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 3.4%
Other 0.6%

Looking for family-friendly neighborhoods in and/or near Orono? Or maybe you are searching for 55+ active adult communities in and/or near Orono?

The percentage of residents who report their age in Orono is as follows:

Under 10 3%
Aged 10-19 28.7%
20s 34.3%
30s 6%
40s 7.2%
50s 5.9%
60s 7.9%
70s 3.4%
80+ 3.8%

Best Schools In Orono, Maine

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Orono with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Orono.

Pros And Cons Of Living In Orono, Maine

How do you know that living in -- or moving to -- Orono is right where you need to be? Perhaps you grew up in Orono or already live nearby; therefore, the decision to buy a home in Orono is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Orono for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Orono:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Orono.

Reasons To Move To Orono, Maine, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Orono can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Orono, meanwhile, can field multiple offers from more qualified buyers.

Orono, ME Rent To Own Homes


Listing types in Orono, ME

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