Only 600 Available Apartment Units in Portland, ME

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Portland has shared in some serious demographic tailwinds in the last few years. No, not that Portland, OR. We’re talking about Portland, ME. According to the most recent population estimates from the U.S. Census Bureau, the Portland-South Portland market had a 2021 population of about 548,000. Meanwhile, just 28,200 apartment units exist, translating to one apartment unit for every 19 residents. Apartment occupancy in Portland runs very tight, averaging 97.6% over the last five years, according to data from RealPage Market Analytics. As of November, occupancy here stood at 97.9% after falling from recent high of 99.1% in May 2022. As of November, Portland’s tight occupancy translated to just 600 vacant units across the entire market.