1st Advantage MortgageA DSCR loan in Bar Harbor turns on rent versus payment. Citywide medians from the Census are $1,106 a month for rent, $538,400 for home value and $4,279 a year for real estate taxes.
What the numbers say about Bar Harbor
Renters who pay cash rent in Bar Harbor have a median gross rent of $1,106 a month, , while owner-occupied homes carry a median value of $538,400.
| Indicator | Maine | Bar Harbor | Difference |
|---|---|---|---|
| Persons per household | 2.26 | 1.95 | |
| Share of homes detached | 70.0% | 71.6% | +2% |
| Long commuters, 45 min plus | 14.5% | 8.0% | -45% |
| Degree holders, age 25+ | 36.2% | 68.3% | +89% |
| Workers on their own account | 13.0% | 25.6% | +97% |
| Renters paying 30%+ of income | 48.4% | 41.6% | -14% |
| Units sitting vacant | 20.6% | 30.6% | +49% |
| Typical construction year | 1977 | 1985 | |
| Households that rent | 25.7% | 25.5% | -1% |
| Annual property tax bill, median | $3,036 | $4,279 | +41% |
| Household income, median | $74,733 | $77,180 | +3% |
| Typical owner-occupied value | $296,600 | $538,400 | +82% |
| Residents (Census estimate) | 1,387,817 | 5,244 |
The renter share of 25.5% (close to the Maine median of 26%) tells you most neighbors are owners, so rental demand is real but narrower than in a renter-heavy city. Median household income is $77,180, close to the Maine median of $74,733, and 42% of renter households pay 30 percent or more of income on rent.
Bar Harbor is a small place, and Census estimates for small populations carry wide margins of error, so we leave out rent-derived ratios here and rely on local quotes and comparables.
What Bar Harbor investors are buying
Detached single-family homes make up 72% of the housing units in Bar Harbor, so most rentals here compete as houses, and rents follow neighborhood and school boundaries more than building type. The median home was built in 1985, a middle-aged stock where roofs, HVAC and water heaters are the main repair items.
31% of Bar Harbor's housing units were vacant when surveyed. The Census flags 24% of units as seasonal or recreational use, so demand swings with tourist seasons and local lodging rules.
Investor takeaways for Bar Harbor
Median build year 1985 puts the typical Bar Harbor rental in its second set of major systems. Because only 25% of households rent, vacant units can take longer to lease, and location relative to employers or campuses matters more.
Carrying costs in Bar Harbor
Real estate taxes are a line the rent has to cover. The median owner in Bar Harbor pays $4,279 a year (well above the Maine median of $3,036), which is about 0.79% of the median home value. That is about 32% of a year of median rent gone to taxes before the loan is even counted.
Insurance follows risk. FEMA's National Risk Index lists Hancock County as relatively low overall, with winter weather (relatively high), ice storms (relatively high) and hurricanes (relatively moderate) as the main drivers.
| Hazard in Hancock County, FEMA index | Level |
|---|---|
| Lightning exposure | Relatively Moderate |
| Hurricanes exposure | Relatively Moderate |
| Ice storms exposure | Relatively High |
| Winter weather exposure | Relatively High |
| Social vulnerability score | Relatively Low |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Insurance belongs in the ratio from day one, so get a landlord quote for the Bar Harbor address and ask about roof age, wind or hail deductibles and flood cover.
What the Bar Harbor medians allow
Take the median rent ($1,106), subtract median taxes spread over twelve months ($357), and you have $749 of room at a 1.00 ratio. A lender asking for 1.25 cuts that to $528. Real quotes for the address decide the rest.
Rules a Bar Harbor landlord should check
Rental registration, inspection and nightly-stay rules differ by city, and we have not verified Bar Harbor's from a municipal source. A short call to the city and Hancock County before you make an offer is cheap insurance. If you are weighing nightly income in Bar Harbor, the state tax backdrop is this. Maine applies its sales tax to rentals of living quarters, including short-term vacation rentals, and a single unit rented fewer than 15 days in a calendar year is generally exempt unless a professional manager collects the rent.
Maine gives a landlord 30 days after the tenancy ends to return a deposit, an easy deadline to miss without a checklist. Rent regulation: No statewide cap on the amount of rent; state law regulates notice and bars increases while the unit is uninhabitable.
Bar Harbor next to nearby cities
Prices in the comparison range from $219,600 in Bangor to $245,800 in Rockland, with Bar Harbor at $538,400.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Rockland | 38% | $4,059 | $245,800 | 7,035 | $1,092 |
| Bangor | 53% | $3,076 | $219,600 | 31,938 | $1,055 |
| Bar Harbor | 25% | $4,279 | $538,400 | 5,244 |
Tenants, jobs and anchors in Bar Harbor
Roughly 25.6% of employed people in Bar Harbor are self-employed, a base of investors and landlords for whom a rent-based loan is a practical option. Around the edges, government workers are about 14% of employment, 68% of adults hold a bachelor's degree or higher and 8% of commuters travel 45 minutes or more.
The Bar Harbor area is home to College of the Atlantic. Students and employees at schools like these are a recurring source of rental demand. Bar Harbor offers air service through Hancock County-Bar Harbor Airport and Logan International Airport, details that affect commute times and how easily a distant investor can inspect a property.
Putting a Bar Harbor file together
Ready to test a Bar Harbor deal? Use the calculator for the ratio, then start your application or send us the scenario.
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Where these facts come from
- Wikipedia: Bar Harbor, Maine
- Maine security deposit statute (14 M.R.S. §§ 6032, 6033, 6034, 6038, 6022-A)
- State rule cited for Bar Harbor hosts: Maine Revenue Services, rental of living quarters
- Census ACS profile behind the Bar Harbor figures
- FEMA National Risk Index
Numbers for Bar Harbor come from the Census Bureau's 2020 to 2024 ACS and are survey estimates. For Maine tenant law we used RedFlagLease under CC BY 4.0 plus the linked statutes. Our check date is October 2026, so look for newer Bar Harbor rules before you commit.
Pre-offer checklist
On a Bar Harbor purchase, line up the lease, the tax estimate, the insurance quote and any association dues before the appraisal is ordered, and ask the appraiser's office what rent comparables they plan to use.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Lease or market rent: what counts in Bar Harbor?
On most files the lender uses the lower of the signed lease rent and the appraiser's market rent for the address in Bar Harbor. For orientation, the Census median gross rent here is $1,106 a month.
What payment can a Bar Harbor rent support?
They do. Rent of $1,106 divided by 1.25 gives about $885 as the payment ceiling, and $357 of that is spoken for by the median Bar Harbor tax bill.
How much real estate tax do Bar Harbor homeowners pay a year?
The median bill is $4,279, an effective rate near 0.79%. Because Hancock County may reassess at sale, use an estimate on the new price when you run the ratio.
Is short-term rental income allowed for a Bar Harbor DSCR loan?
Often, with conditions: legal use under city and association rules, documented income and an insurance policy that covers guests. Bar Harbor owners should check all three first.
Are there deposit limits for Bar Harbor rentals?
A landlord has 30 days to return the deposit. Both come from 14 M.R.S. §§ 6032, 6033, 6034, 6038, 6022-A.
What does FEMA say about hazard risk near Bar Harbor?
Overall risk is rated relatively low for the county. Because the rating covers a whole county, look up the specific property on FEMA's flood map before you offer.
Is an entity required for a ME DSCR loan?
You do not need one, and many investors close in an entity. If you use an LLC, the lender asks for formation documents and usually a personal guaranty. Talk to your attorney and accountant about structure for a Maine property.