New City, ME—04462
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New City, ME
As of Oct '25, the median home price in New City, ME is $164,000, with a year-over-year change of 1.4%. This indicates that home prices in New City, ME are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $164,000 | 1.4% |
| Single Family | $164,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $170,000 | 0.6% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New City, ME
As of July '25, Rentcast reports the average rent in New City, ME is $1,120, with a year-over-year rent change of -4.3%. Per bedroom, the median rent as of July '25 in New City, ME is 2-bedrooms: $1,080, 3-bedrooms: $1,300. The most common rental property sizes in New City, ME are 2-bedroom and studio, accounting for 50.7% and 31.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,120 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,000 | $1,080 |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New City, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in New City, ME is 88. This is a decrease of -2.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $188,000 | 6.0% |
Listing Count | 58 | 25.0% |
| Listings as % of Homes | 0.6% | 25.0% |
Days on Market | 88 | -2.0% |
Demographics — New City, ME
As of the latest ACS Survey released in 2023, New City, ME has a population of 4,460, which has decreased by -3.4% over the past 5 years. New City, ME is a less popular place for families, as children make up 11.3% of the population. The area has a poorly educated workforce, with 20.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,460 | -3.4% |
% Under 18 | 11.3% | -5.8% |
% Seniors | 33.3% | 11.7% |
% WFH | 8.4% | 6.3% |
% w/ College Degree | 20.0% | 32.5% |
As of the latest ACS Survey released in 2023, New City, ME is a predominantly white area, with 99.6% of the population identifying as white. The white population has grown by 7.2% in the last 5 years. The second most common race or ethnicity in New City, ME is black, making up 0.0% of the population. Foreign-born residents account for 2.0% of the population in New City, ME, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 99.6% | 7.2% |
% Black | 0.0% | N/A |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 2.0% | 0.0% |
Mortgage and Risk — New City, ME
According to HUD data as of 2023, there were 74 mortgage originations in New City, ME, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in New City, ME. Investor activity is low, as 3.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 74 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 3.0% |
% Second Loans | 15.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — New City, ME
New City, ME lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 84 |
Total Units Section 8 | 84 |
% Rentals under Section 8 | 20.3% |
% Occupied Section 8 | 87.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $720 |
| 2 Bedroom | -$60 | $1,000 | $940 |
| 3 Bedroom | -$120 | $1,300 | $1,180 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — New City, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $164,000 |
| Median Household Income | $44,200 |