Bingham, ME Profile: Facts & Data

The primary coordinate point for Bingham is located at latitude 45.0587 and longitude -69.8823 in Somerset County. The formal boundaries for the Bingham Census Designated Place encompass a land area of 2.27 sq. miles and a water area of 0 sq. miles. Somerset County is in the Eastern time zone (GMT -5). The elevation is 364 feet.

The Bingham Census Designated Place (GNIS ID: 2377890) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

Bingham, ME Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	669 (100%)
Population in Households	669 (100.0%)
Population in Families	472 (70.6%)
Population in Group Quarters¹	0
Population Density	296
Diversity Index²	10


INCOME
Median Household Income	$39,391
Average Household Income	$55,968
% of Income for Mortgage⁴	10%
Per Capita Income	$26,465
Wealth Index⁵	49

HOUSING
Total HU (Housing Units)	429 (100%)
Owner Occupied HU	226 (52.7%)
Renter Occupied HU	96 (22.4%)
Vacant Housing Units	107 (24.9%)
Median Home Value	$95,278
Average Home Value	$115,419
Housing Affordability Index³	214

HOUSEHOLDS
Total Households	322
Average Household Size	2.08
Family Households	177
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.

Bingham, ME - Peer Comparisons by Rank and Percentile

The table below compares Bingham to the other 130 incorporated cities, towns and CDPs in Maine by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	-1.21%	-1.26%
Households	-1.06%	-1.08%
Families	-1.23%	-1.28%
Median Household Income		2.15%
Per Capita Income		2.3%
Owner Occupied HU		-1.18%

Variable Description	Rank	Percentile
Total Population	# 118	10th
Population Density	# 95	28th
Median Household Income	# 98	25th
Housing Affordability Index	# 108	83rd
Per Capita Income	# 80	39th
Diversity Index	# 88	33rd

Bingham, ME Profile: Facts & Data

Bingham, Maine - Basic Facts

Bingham, ME Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Bingham, ME - Peer Comparisons by Rank and Percentile

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