Orono, ME—04473
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Orono, ME
As of Oct '25, the median home price in Orono, ME is $299,000, with a year-over-year change of 0.5%. This indicates that home prices in Orono, ME are flat. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $299,000 | 0.5% |
| Single Family | $306,000 | -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 | N/A | N/A |
3 Bed | $301,000 | -0.3% |
4 Bed | $363,000 | 0.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Orono, ME
As of July '25, Rentcast reports the average rent in Orono, ME is $1,700, with a year-over-year rent change of -35.8%. Per bedroom, the median rent as of July '25 in Orono, ME is studios: $912, 1-bedrooms: $1,360, 2-bedrooms: $1,630, 3-bedrooms: $2,070, 4-bedrooms: $2,580. The most common rental property sizes in Orono, ME are 1-bedroom and 2-bedroom, accounting for 33.6% and 33.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,580 | $1,700 |
| Studio Rent | $900 | $912 |
| 1 Bed Rent | $1,380 | $1,360 |
| 2 Bed Rent | $1,580 | $1,630 |
| 3 Bed Rent | $1,900 | $2,070 |
| 4 Bed Rent | $2,400 | $2,580 |
% of Rental Stock
Property Listings — Orono, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Orono, ME is 52. This is a increase of 19.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $357,000 | 17.0% |
Listing Count | 20 | 65.0% |
| Listings as % of Homes | 0.2% | 65.0% |
Days on Market | 52 | 19.0% |
Demographics — Orono, ME
As of the latest ACS Survey released in 2023, Orono, ME has a population of 8,380, which has increased by 2.8% over the past 5 years. Orono, ME is a less popular place for families, as children make up 9.5% of the population. The area has a highly educated workforce, with 64.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,380 | 2.8% |
% Under 18 | 9.5% | -8.7% |
% Seniors | 17.1% | 12.5% |
% WFH | 8.7% | 67.3% |
% w/ College Degree | 64.2% | 3.4% |
As of the latest ACS Survey released in 2023, Orono, ME is a predominantly white area, with 88.5% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Orono, ME is asian, making up 2.9% of the population. Foreign-born residents account for 6.7% of the population in Orono, 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 | 88.5% | -2.5% |
% Black | 1.1% | -31.2% |
% Hispanic | 2.7% | 58.8% |
% Asian | 2.9% | -9.4% |
% Foreign Born | 6.7% | -4.3% |
Mortgage and Risk — Orono, ME
According to HUD data as of 2023, there were 63 mortgage originations in Orono, ME, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Orono, 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 | 63 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Orono, ME
As of 2024, the percent of homes in Orono, ME under the Section 8 program is 12.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Orono, ME, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 212 |
Total Units Section 8 | 212 |
% Rentals under Section 8 | 12.1% |
% Occupied Section 8 | 89.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$170 | $1,380 | $1,210 |
| 2 Bedroom | -$40 | $1,580 | $1,540 |
| 3 Bedroom | $70 | $1,900 | $1,970 |
| 4 Bedroom | -$360 | $2,400 | $2,040 |
Affordability — Orono, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $299,000 |
| Median Household Income | $58,900 |