What It Was Like To Buy A Maine Home In 1940

The BDN is exploring Maine’s housing crisis from every possible angle, from how it affects home prices, to what it means for Mainers across the state. Read our ongoing coverage here and fill out this form to tell us what you want to know. Many readers have asked us recently if it has always been this difficult and expensive to buy a home in Maine. The answer is complex but clear: Buying a home in Maine in 1940 was substantially cheaper than in 2022, even when adjusted for inflation, and the average Mainer could pay their home off faster. But most also had access to far fewer of the financial resources that Mainers have today, including accumulated wealth within their families, that make it possible to make the investment necessary for a new home.

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Topics:  Maine   Penobscot County   Bangor   
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