Gray, ME 04039 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Gray, ME—04039

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$490,000

0.6% YoY Growth

Household Income

$94,300

31.2% YoY Growth

Days on Market

12.0% Shorter YoY

Home Price Forecast

4.0%

Median Rent

$1,920

0.5% YoY Growth

1-Bed Rent

$1,460

5.2% YoY Growth

2-Bed Rent

$1,920

2.8% YoY Growth

3-Bed Rent

$2,400

36.0% YoY Growth

Home Price Trends — Gray, ME

As of Dec '25, the median home price in Gray, ME is $490,000, with a year-over-year change of 0.6%. This indicates that home prices in Gray, ME are flat. According to Zillow, the 1-year price projection is 4.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$490,000	0.6%
Single Family	$492,000	0.8%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Gray, ME

As of July '25, Rentcast reports the average rent in Gray, ME is $2,220, with a year-over-year rent change of 0.5%. Per bedroom, the median rent as of July '25 in Gray, ME is 1-bedrooms: $1,620, 2-bedrooms: $2,090, 3-bedrooms: $2,400, 4-bedrooms: $3,500. The most common rental property sizes in Gray, ME are 2-bedroom and 3-bedroom, accounting for 35.0% and 30.0% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,920	$2,220
Studio Rent	N/A	N/A
1 Bed Rent	$1,460	$1,620
2 Bed Rent	$1,920	$2,090
3 Bed Rent	$2,400	$2,400
4 Bed Rent	$3,500	$3,500

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% of Rental Stock

Studio

10.0%

1 Bedroom

25.0%

2 Bedrooms

35.0%

3 Bedrooms

30.0%

Property Listings — Gray, ME

As of Dec '25, Realtor.com reports that the median days on market for a home in Gray, ME is 74. This is a increase of 30.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$652,000	-9.0%
Listing Count	14	-20.0%
Listings as % of Homes	0.1%	-20.0%
Days on Market	24	-12.0%

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Demographics — Gray, ME

As of the latest ACS Survey released in 2023, Gray, ME has a population of 8,000, which has increased by 5.8% over the past 5 years. Gray, ME is a moderately popular place for families, as children make up 18.5% of the population. The area has a highly educated workforce, with 46.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	8,000	5.8%
% Under 18	18.5%	-8.0%
% Seniors	17.6%	-7.4%
% WFH	11.6%	118.9%
% w/ College Degree	46.5%	30.3%

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As of the latest ACS Survey released in 2023, Gray, ME is a predominantly white area, with 88.4% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Gray, ME is hispanic, making up 0.9% of the population. Foreign-born residents account for 1.2% of the population in Gray, 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	88.4%	-4.8%
% Black	0.4%	0.0%
% Hispanic	0.9%	-18.2%
% Asian	0.5%	-50.0%
% Foreign Born	1.2%	-33.3%

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Mortgage and Risk — Gray, ME

According to HUD data as of 2023, there were 215 mortgage originations in Gray, ME, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Gray, ME. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	215
% Conventional Loans	92.0%
% Government Loans	8.0%
% Investor Loans	2.0%
% Second Loans	5.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Gray, ME

As of 2024, the percent of homes in Gray, ME under the Section 8 program is 10.2%. 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. In Gray, ME, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	65
Total Units Section 8	65
% Rentals under Section 8	10.2%
% Occupied Section 8	80.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$0	$1,460	$1,460
2 Bedroom	-$40	$1,920	$1,880
3 Bedroom	-$100	$2,400	$2,300
4 Bedroom	-$920	$3,500	$2,580

Gray, ME—04039

Key Metrics at a Glance

Home Price Trends — Gray, ME

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gray, ME

% of Rental Stock

Property Listings — Gray, ME

Demographics — Gray, ME

Race and Ethnicity

Mortgage and Risk — Gray, ME

Mortgages

Rentals and Section 8 — Gray, ME

Section 8 Market Size

Section 8 Opportunity

Affordability — Gray, ME

Home Price to Income Ratio

Gray, ME — ZIP Code Boundary Map

Nearby ZIP Codes

New Gloucester, ME

Windham, ME

North Yarmouth, ME

Cumberland, ME

Raymond, ME

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.6
Median Home Price	$490,000
Median Household Income	$94,300

Gray, ME—04039

Key Metrics at a Glance

Home Price Trends — Gray, ME

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Gray, ME

% of Rental Stock

Property Listings — Gray, ME

Demographics — Gray, ME

Race and Ethnicity

Mortgage and Risk — Gray, ME

Mortgages

Rentals and Section 8 — Gray, ME

Section 8 Market Size

Section 8 Opportunity

Affordability — Gray, ME

Home Price to Income Ratio

Gray, ME — ZIP Code Boundary Map

Nearby ZIP Codes

New Gloucester, ME

Windham, ME

North Yarmouth, ME

Cumberland, ME

Raymond, ME

Frequently Asked Questions

What is the average home price in Gray, ME 04039?

How have home prices in Gray, ME 04039 changed over the past year?

What is the home price projection for Gray, ME 04039?

What are the demographics of Gray, ME 04039?

How long does it take homes to sell in Gray, ME 04039?

What is the average rent price in Gray, ME 04039?