For many who are new to Portland or thinking about moving her, understanding the overall economic climate is often an important issue to consider before buying a home. We often have clients who are evaluating different cities and regions across the country – trying to determine where is best in terms of business, education and lifestyle .Obtaining reliable information can often be a challenge.
The city of Portland has recently released what is being called an Economic Scorecard. This report measures data along 32 economic indicators such as employment, housing income education, taxes and overall affordability – and makes qualitative comparisons against other benchmark cities in Maine and around the country.
The data illustrates the strengths and challenges of the city. Generally speaking, Portland is making progress in sustaining and growing key economic sectors, and increasing income and education levels but still needs to improve its business and economic development competitiveness, particularly around housing and government costs.
Other Highlights Include:
- Portland is outperforming its peers on education attainment, tourism and household income, leading to a higher standard of living for Portland residents.
- Portland is lagging behind when it comes to the office vacancy rates, number of employees in city government and the amount of city debt when compared to peer cities.
To learn more about how Portland compares to other communities along all 32 measured variables, you can download the complete report at: Economic Scorecard.
When it comes to Portland real estate, the latest housing statistics are also available on our site at Portland Maine real estate and home sales.