Augusta Apartments: Calculating a Small Market - Augusta - 1

Augusta is the capital of Maine, but the rental market is small. Given the limited number of listings, it's important to consider this when looking at the numbers for different unit types. Here's a breakdown from studio to three-bedroom apartments.

The average rent for a studio is $684. A one-bedroom averages $958, while a two-bedroom is $984, showing little difference from the one-bedroom. The three-bedroom units are reported to range from the $900s to the $1,100s, likely due to the small sample size.

The overall average rent is $983, which is 39% lower than the national average. The sizes are estimated to be around 420 square feet for studios, 680 square feet for one-bedrooms, 950 square feet for two-bedrooms, and 1,150 square feet for three-bedrooms.

  • Studio: about $684 / 420 square feet
  • One-bedroom: about $958 / 680 square feet
  • Two-bedroom: about $984 / 950 square feet
  • Three-bedroom: about $1,000–$1,100 / 1,150 square feet

There is not much new construction in Augusta. New listings tend to focus on one-bedroom and two-bedroom units, while three-bedroom apartments are mostly found in older buildings.

The demand primarily comes from single-person households working near the state government offices looking for studios and one-bedrooms, while roommates or small families typically seek two-bedrooms. Due to the limited availability of three-bedrooms, families with children often expand their search to nearby small towns.

The rent difference between moving from a one-bedroom to a two-bedroom is only $26. This indicates that the additional cost of having one more room is not significant, making it more reasonable for two or more people to choose a two-bedroom.

Although there are not many Korean households in the area, which limits information, the rental burden is definitely lighter compared to larger metropolitan areas. If your job or school is located in Augusta, it's safer to check multiple channels simultaneously due to the limited number of listings.

The figures were verified using data from Apartments.com and RentCafe, and due to the characteristics of a small market, actual listing prices may vary.