Penobscot County, Maine: commercial real estate data.
Penobscot County, Maine has a population of 154,710 across 3,397 square miles, up 3.0 percent since the 2020 census base. County output reached $9.64 bn in 2024, 4,222 establishments operate here, and the SBA record carries 202 7(a) approvals worth $56.7 m.
123 sourced county values · tier FULL · 11 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Penobscot County
How many people live in Penobscot County
- Population154,710
- Households65,221
- Average household size2.37
- Median household income$66,356
- Median age42.5
- Median gross rent$1,041 per month
- Median owner-occupied home value$214,100
- Home value to household income3.2 times
- Annual rent as a share of median income18.8 percent
- Adults 25 and over with a bachelor degree or higher30.1 percent
- Adults 25 and over with a graduate degree11.9 percent
- Adults 25 and over111,532
- Population under 1827,249
- Share under 1817.6 percent
- Population 65 and over31,088
- Share 65 and over20.1 percent
- Working age population, 18 to 6496,373
- Civilian labor force78,166
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over61.3 percent
- Rank by population among Maine counties3rd of 16
- Rank by population among US county-equivalents449th
Penobscot County is the 3rd largest of 16 Maine counties by population. A median home costs 3.2 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 20.1 percent against 17.6 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Penobscot County
Is Penobscot County's population growing?
- Population change since the 2020 census base3.05 percent
- Census 2020 base population152,199
- Births, 20241,314
- Deaths, 20241,959
- Natural change, 2024-645
- Net domestic migration, 2024555
- Net international migration, 2024594
- Total net migration, 20241,149
- Cumulative net domestic migration, 2021 to 20245,824
- Rank by growth among US county-equivalents859th
The county has grown 3.05 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Penobscot County
Where are people moving to Penobscot County from?
- Tax returns filed by households arriving3,647
- People arriving, from those returns6,118
- Adjusted gross income arriving$203.3 m
- Net adjusted gross income movement$0
- Average income of an arriving household$55,736
- Largest single originPenobscot County Non-migrants (59,162 households)
- Largest single destination (59,162 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Penobscot County Non-migrants | 59,162 | 111,822 | $4.40 bn |
| Other flows - Different State | 1,511 | 2,622 | $98.8 m |
| Other flows - South | 603 | 1,073 | $37.5 m |
| Other flows - Northeast | 394 | 639 | $27.3 m |
| Other flows - West | 327 | 610 | $20.2 m |
| Hancock County | 276 | 452 | $13.8 m |
| Waldo County | 222 | 387 | $11.5 m |
| Cumberland County | 214 | 304 | $11.1 m |
The largest single source of arrivals is Penobscot County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Penobscot County
What is the Penobscot County economy?
- County GDP, 2024$9.64 bn
- County GDP, 2023$9.12 bn
- GDP change, 2023 to 20245.7 percent
- GDP change over five years32.5 percent
- Rank by GDP among Maine counties3rd
- Rank by GDP among US county-equivalents455th
- GDP per resident$62,333
Output grew 5.7 percent in the latest year and 32.5 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Penobscot County
Largest employers in Penobscot County
- Covered employment, annual average71,983
- Establishments reporting5,259
- Average annual pay$55,593
- Average weekly wage$1,069
- Sector 62, employment15,681
- Sector 62, average annual pay$65,036
- Sector 44-45, employment10,657
- Sector 44-45, average annual pay$38,540
- Sector 72, employment6,263
- Sector 72, average annual pay$27,776
- Sector 23, employment3,921
- Sector 23, average annual pay$70,658
- Sector 31-33, employment2,830
- Sector 56, employment2,745
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 15,681 | 578 | $65,036 |
| Sector 44-45 | 10,657 | 638 | $38,540 |
| Sector 72 | 6,263 | 355 | $27,776 |
| Sector 23 | 3,921 | 559 | $70,658 |
| Sector 31-33 | 2,830 | 171 | $60,968 |
| Sector 56 | 2,745 | 276 | $39,076 |
| Sector 48-49 | 2,682 | 162 | $54,324 |
| Sector 42 | 2,284 | 229 | $71,187 |
The largest sector is the biggest private employer group at 15,681 jobs, 21.8 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Penobscot County
How many businesses are in Penobscot County?
- Establishments, all industries4,222
- Employment at those establishments60,749
- Annual payroll$3.17 bn
- Establishments per 1,000 residents27.3
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Penobscot County
Building permits in Penobscot County
- Housing units authorised by permit, 2024450
- Declared construction value permitted$103.6 m
- Single family units authorised367
- Multifamily units authorised83
- Multifamily share of units18.4 percent
- Average declared value per unit$230,305
- Units authorised per 1,000 households6.9
Multifamily is 18.4 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Penobscot County
SBA loans in Penobscot County (7(a) and 504)
- 7(a) approvals recorded202
- 7(a) gross approval dollars$56.7 m
- Average 7(a) approval$280,885
- Median 7(a) approval$100,000
- 10th percentile approval$25,000
- 90th percentile approval$650,000
- Largest single approval$4,500,000
- Jobs reported supported, 7(a)1,490
- Jobs per approval7.4
- Distinct 7(a) lenders active28
- Distinct industries receiving approvals97
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer12.4 percent
- Loans on real estate terms25
- Loans on working capital terms, 120 months or shorter172
- Franchise loans6
- Franchise share of approvals3.0 percent
- Leading industry by approval countFull-Service Restaurants (7)
- Most active lenderBangor Savings Bank (45)
- 504 approvals recorded39
- 504 gross approval dollars$18.4 m
- Average 504 approval$471,872
- Median 504 approval$367,000
- Distinct CDCs active4
- 504 jobs per approval9.2
- 504 jobs per million dollars approved19.4
- Most active CDCGranite State Economic Development Corporation (22)
- 7(a) share of SBA approvals83.8 percent
- Combined SBA approval dollars$75.1 m
The average approval of $280,885 sits well above the median of $100,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 12.4 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Penobscot County
SBA loan default and charge-off rates in Penobscot County
Do SBA loans in Penobscot County get paid back?
- Loans with a final outcome recorded51
- Paid in full48
- Charged off3
- Charge off rate on resolved loans5.9 percent
- Status: Exempt from disclosure115
- Status: Charged off3
- Status: Paid in full48
- Status: Cancelled25
- Status: Committed, not yet disbursed11
Of the 51 loans that have reached a final outcome, 5.9 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Penobscot County
SBA lending by place in Penobscot County
- Places in the county with recorded lending39
- BANGOR, approvals68
- Brewer, approvals13
- HERMON, approvals11
- OLD TOWN, approvals10
- Levant, approvals9
- LINCOLN, approvals8
| Place | Approvals | Gross approval dollars |
|---|---|---|
| BANGOR | 68 | $25,493,500 |
| Brewer | 13 | $4,799,000 |
| HERMON | 11 | $2,239,500 |
| OLD TOWN | 10 | $2,294,900 |
| Levant | 9 | $1,379,600 |
| LINCOLN | 8 | $3,037,000 |
| Newport | 7 | $316,400 |
| MILLINOCKET | 6 | $3,704,000 |
BANGOR accounts for 68 approvals against 13 in Brewer. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Penobscot County
How large is Penobscot County?
- Land area3,397 sq mi
- Rank by land area among Maine counties4th of 16
- Width, east to west69 mi
- Height, north to south121 mi
- Geographies sharing a boundary6
- Residents per square mile of land46
- Establishments per square mile1.24
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Penobscot County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Penobscot County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population154,710
- Households65,221
- Average household size2.37
- Median household income$66,356
- Median age42.5
Common questions
Penobscot County questions, answered from the record.
How many people live in Penobscot County, Maine?
154,710, in 65,221 households, ranking 3rd of 16 Maine counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Penobscot County's population growing?
The population has grown 3.05 percent since the 2020 census base. In 2024 there were 1,314 births against 1,959 deaths, with net migration of 1,149. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Penobscot County?
$66,356. The median owner-occupied home is valued at $214,100, which is 3.2 times income, and median gross rent is $1,041 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Penobscot County?
4,222 establishments, employing 60,749 people with an annual payroll of $3.17 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Penobscot County?
Average annual pay is $55,593, or $1,069 a week, across 71,983 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Penobscot County?
202 7(a) approvals totalling $56.7 m since FY2020, across 28 lenders, with a median approval of $100,000, plus 39 504 approvals worth $18.4 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Penobscot County get paid back?
Of the 51 loans that have reached a final outcome, 48 were paid in full and 3 charged off, a charge off rate of 5.9 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Penobscot County?
450 housing units were authorised by permit in 2024, with a declared construction value of $103.6 m. Multifamily was 18.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Penobscot County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Penobscot County come from?
The largest single origin is Penobscot County Non-migrants, with 59,162 households. Arriving households report an average income of $55,736 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Penobscot County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Penobscot County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.
Penobscot County
Cities and places in Penobscot.
17 Census places lie wholly or partly in Penobscot County. 17 carry enough published place level data for a page of their own and are linked. The rest are named here and not linked, because the American Community Survey and the SBA record between them do not carry enough about them to write an honest page. A place existing is itself worth knowing, so nothing in the county is left out.
| Place | Type | Population | SBA approvals | Lies in |
|---|---|---|---|---|
| Bangor | city | 31,938 | 68 | Wholly in this county |
| Orono | CDP | 11,151 | 4 | Wholly in this county |
| Brewer | city | 9,652 | 13 | Wholly in this county |
| Old Town | city | 7,470 | 10 | Wholly in this county |
| Hampden | CDP | 5,161 | 5 | Wholly in this county |
| Millinocket | CDP | 3,779 | 6 | Wholly in this county |
| Lincoln | CDP | 2,954 | 8 | Wholly in this county |
| Milford | CDP | 2,269 | None recorded | Wholly in this county |
| Dexter | CDP | 1,852 | 3 | Wholly in this county |
| Veazie | CDP | 1,847 | 1 | Wholly in this county |
| Newport | CDP | 1,730 | 7 | Wholly in this county |
| East Millinocket | CDP | 1,495 | None recorded | Wholly in this county |
| Howland | CDP | 1,235 | 2 | Wholly in this county |
| Bradley | CDP | 845 | 3 | Wholly in this county |
| Corinna | CDP | 711 | 2 | Wholly in this county |
| Patten | CDP | 607 | 2 | Wholly in this county |
| Mattawamkeag | CDP | 436 | None recorded | Wholly in this county |
A further 92 SBA approvals in Penobscot County are recorded against borrower cities that match no Census place, the largest being Hermon, Old Town, Holden. Those are postal cities and unincorporated areas rather than incorporated places, so no page claims them, and their lending is counted in this county's totals above rather than under any city.