Hallowell, ME—04347
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hallowell, ME
As of Oct '25, the median home price in Hallowell, ME is $367,000, with a year-over-year change of -0.2%. This indicates that home prices in Hallowell, ME are flat. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $367,000 | -0.2% |
| Single Family | $370,000 | -0.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $336,000 | -2.0% |
3 Bed | $360,000 | -0.6% |
4 Bed | $416,000 | -0.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hallowell, ME
As of July '25, Rentcast reports the average rent in Hallowell, ME is $2,760, with a year-over-year rent change of 11.3%. Per bedroom, the median rent as of July '25 in Hallowell, ME is 1-bedrooms: $1,600, 2-bedrooms: $2,600, 4-bedrooms: $3,200. The most common rental property sizes in Hallowell, ME are 1-bedroom and 2-bedroom, accounting for 49.2% and 33.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $2,760 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | $2,600 | $2,600 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $3,200 | $3,200 |
% of Rental Stock
Property Listings — Hallowell, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Hallowell, ME is 80. This is a decrease of -24.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 43.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $536,000 | 13.0% |
Listing Count | 14 | -20.0% |
| Listings as % of Homes | 1.2% | -20.0% |
Days on Market | 80 | -24.0% |
Demographics — Hallowell, ME
As of the latest ACS Survey released in 2023, Hallowell, ME has a population of 2,570, which has increased by 2.6% over the past 5 years. Hallowell, ME is a less popular place for families, as children make up 11.5% of the population. The area has a highly educated workforce, with 46.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,570 | 2.6% |
% Under 18 | 11.5% | -45.5% |
% Seniors | 30.7% | 34.1% |
% WFH | 14.7% | 86.1% |
% w/ College Degree | 46.4% | -6.5% |
As of the latest ACS Survey released in 2023, Hallowell, ME is a predominantly white area, with 99.3% of the population identifying as white. The white population has grown by 4.6% in the last 5 years. The second most common race or ethnicity in Hallowell, ME is hispanic, making up 0.2% of the population. Foreign-born residents account for 2.8% of the population in Hallowell, ME, and this percentage has decreased by 33.3% 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 | 99.3% | 4.6% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.2% | -50.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 2.8% | -33.3% |
Mortgage and Risk — Hallowell, ME
According to HUD data as of 2023, there were 72 mortgage originations in Hallowell, ME, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Hallowell, ME. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 72 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 3.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Hallowell, ME
Hallowell, ME lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 79 |
Total Units Section 8 | 79 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$690 | $1,600 | $910 |
| 2 Bedroom | -$1,430 | $2,600 | $1,170 |
| 3 Bedroom | N/A | N/A | $1,470 |
| 4 Bedroom | -$1,450 | $3,200 | $1,750 |
Affordability — Hallowell, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $367,000 |
| Median Household Income | $58,800 |