A shocking Maine city has seen house costs double since 2020

Most Maine cities and cities have seen house costs rise by a minimum of 30 p.c for the reason that begin of the COVID-19 pandemic, however just one has seen house costs double.

It might be a shock. The Oxford County city of Rumford noticed the value for a mean house spike from almost $92,000 in January 2020 to simply over $189,000 in June, based on Zillow information. Such a steep value bounce in a city that’s cheaper than most others illustrates the depth of Maine’s housing affordability disaster. It additionally underscores the city’s revitalization efforts.

Identified for its Paul Bunyan statue and waterfalls heading into city from Route 2, Rumford is also house to the ND Paper mill. However the city is shaking its picture as primarily a mill city to at least one with numerous companies and entry to the outside, and that’s attracting extra folks to compete for housing, George O’Keefe Jr., its financial growth director, stated.