South Portland, ME—04106
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Portland, ME
As of Oct '25, the median home price in South Portland, ME is $501,000, with a year-over-year change of -1.2%. This indicates that home prices in South Portland, ME are decreasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $501,000 | -1.2% |
| Single Family | $520,000 | -1.1% |
| Condos | $390,000 | -2.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $288,000 | -6.8% |
2 Bed | $418,000 | -1.2% |
3 Bed | $518,000 | -1.1% |
4 Bed | $633,000 | 0.2% |
| 5 Bed | $825,000 | 0.4% |
% of Housing Stock
Rental Trends — South Portland, ME
As of July '25, Rentcast reports the average rent in South Portland, ME is $2,480, with a year-over-year rent change of -4.2%. Per bedroom, the median rent as of July '25 in South Portland, ME is 1-bedrooms: $2,190, 2-bedrooms: $2,650, 3-bedrooms: $3,260. The most common rental property sizes in South Portland, ME are 2-bedroom and 1-bedroom, accounting for 48.1% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,480 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,340 | $2,190 |
| 2 Bed Rent | $2,700 | $2,650 |
| 3 Bed Rent | $3,110 | $3,260 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — South Portland, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in South Portland, ME is 32. This is a increase of 34.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $554,000 | 3.0% |
Listing Count | 60 | 11.0% |
| Listings as % of Homes | 0.1% | 11.0% |
Days on Market | 32 | 34.0% |
Demographics — South Portland, ME
As of the latest ACS Survey released in 2023, South Portland, ME has a population of 27,000, which has increased by 4.4% over the past 5 years. South Portland, ME is a moderately popular place for families, as children make up 15.4% of the population. The area has a highly educated workforce, with 49.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,000 | 4.4% |
% Under 18 | 15.4% | -14.4% |
% Seniors | 20.1% | 21.8% |
% WFH | 15.9% | 194.4% |
% w/ College Degree | 49.0% | 8.4% |
As of the latest ACS Survey released in 2023, South Portland, ME is a predominantly white area, with 82.6% of the population identifying as white. The white population has shrunk by 7.3% in the last 5 years. The second most common race or ethnicity in South Portland, ME is black, making up 6.8% of the population. Foreign-born residents account for 8.9% of the population in South Portland, ME, and this percentage has decreased by 4.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.6% | -7.3% |
% Black | 6.8% | 83.8% |
% Hispanic | 3.3% | 43.5% |
% Asian | 2.8% | 47.4% |
% Foreign Born | 8.9% | -4.3% |
Mortgage and Risk — South Portland, ME
According to HUD data as of 2023, there were 472 mortgage originations in South Portland, ME, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in South Portland, ME. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 472 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — South Portland, ME
South Portland, ME lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 835 |
Total Units Section 8 | 829 |
% Rentals under Section 8 | 12.2% |
% Occupied Section 8 | 81.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$580 | $2,340 | $1,760 |
| 2 Bedroom | -$440 | $2,700 | $2,260 |
| 3 Bedroom | -$340 | $3,110 | $2,770 |
| 4 Bedroom | N/A | N/A | $3,100 |
Affordability — South Portland, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $501,000 |
| Median Household Income | $83,700 |