Cape Elizabeth, ME—04107
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cape Elizabeth, ME
As of Oct '25, the median home price in Cape Elizabeth, ME is $865,000, with a year-over-year change of 1.1%. This indicates that home prices in Cape Elizabeth, ME are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $865,000 | 1.1% |
| Single Family | $922,000 | 1.8% |
| Condos | $641,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $629,000 | 3.3% |
3 Bed | $811,000 | 2.5% |
4 Bed | $1,165,000 | 3.0% |
| 5 Bed | $1,616,000 | 1.3% |
% of Housing Stock
Rental Trends — Cape Elizabeth, ME
As of July '25, Rentcast reports the average rent in Cape Elizabeth, ME is $3,670, with a year-over-year rent change of 7.0%. Per bedroom, the median rent as of July '25 in Cape Elizabeth, ME is 1-bedrooms: $2,180, 3-bedrooms: $3,900, 4-bedrooms: $4,300. The most common rental property sizes in Cape Elizabeth, ME are 2-bedroom and 3-bedroom, accounting for 39.5% and 34.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,900 | $3,670 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,180 | $2,180 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $3,900 | $3,900 |
| 4 Bed Rent | $3,900 | $4,300 |
% of Rental Stock
Property Listings — Cape Elizabeth, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Cape Elizabeth, ME is 38. This is a increase of 9.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,340,000 | 31.0% |
Listing Count | 22 | 7.0% |
| Listings as % of Homes | 0.1% | 7.0% |
Days on Market | 38 | 9.0% |
Demographics — Cape Elizabeth, ME
As of the latest ACS Survey released in 2023, Cape Elizabeth, ME has a population of 9,580, which has increased by 5.3% over the past 5 years. Cape Elizabeth, ME is a moderately popular place for families, as children make up 23.2% of the population. The area has a highly educated workforce, with 76.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,580 | 5.3% |
% Under 18 | 23.2% | 1.3% |
% Seniors | 25.6% | 19.6% |
% WFH | 27.6% | 90.3% |
% w/ College Degree | 76.9% | 11.4% |
As of the latest ACS Survey released in 2023, Cape Elizabeth, ME is a predominantly white area, with 95.3% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Cape Elizabeth, ME is hispanic, making up 2.1% of the population. Foreign-born residents account for 7.1% of the population in Cape Elizabeth, ME, and this percentage has increased by 29.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 95.3% | -1.2% |
% Black | 0.2% | ∞% |
% Hispanic | 2.1% | 320.0% |
% Asian | 0.5% | -68.8% |
% Foreign Born | 7.1% | 29.1% |
Mortgage and Risk — Cape Elizabeth, ME
According to HUD data as of 2023, there were 208 mortgage originations in Cape Elizabeth, ME, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 43.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Cape Elizabeth, ME. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 208 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 1.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Cape Elizabeth, ME
Cape Elizabeth, ME lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 29 |
Total Units Section 8 | 29 |
% Rentals under Section 8 | 6.7% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $2,180 | $2,150 |
| 2 Bedroom | N/A | N/A | $2,760 |
| 3 Bedroom | -$520 | $3,900 | $3,380 |
| 4 Bedroom | -$110 | $3,900 | $3,790 |
Affordability — Cape Elizabeth, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $865,000 |
| Median Household Income | $145,000 |