Town Of Bingham ME Demographic Data and Boundary Map
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Town Of Bingham, ME
The Town Of Bingham is a County Subdivision of Somerset County.
The subdivision has a T1 Census Class Code which indicates that the Town Of Bingham is an active county subdivision that is not coextensive with an incorporated place.
Town Of Bingham Data & Demographics (As of July 1, 2024)
POPULATION
Total Population
867 (100%)
Population in Households
836 (96.4%)
Population in Families
599 (69.1%)
Population in Group Quarters1
31 ( 3.6%)
Population Density
26
Diversity Index2
18
INCOME
Median Household Income
$42,664
Average Household Income
$61,673
% of Income for Mortgage4
15%
Per Capita Income
$28,152
Wealth Index5
63
HOUSING
Total HU (Housing Units)
556 (100%)
Owner Occupied HU
303 (54.5%)
Renter Occupied HU
92 (16.5%)
Vacant Housing Units
161 (29.0%)
Median Home Value
$101,042
Average Home Value
$140,347
Housing Affordability Index3
160
HOUSEHOLDS
Total Households
395
Average Household Size
2.12000000000
Family Households
224
Average Family Size
3
NOTES
Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
