Portland, ME—04102
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Portland, ME
As of Oct '25, the median home price in Portland, ME is $537,000, with a year-over-year change of -0.5%. This indicates that home prices in Portland, ME are flat. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $537,000 | -0.5% |
| Single Family | $567,000 | -0.4% |
| Condos | $436,000 | -3.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $364,000 | -5.5% |
2 Bed | $440,000 | -2.9% |
3 Bed | $548,000 | -0.7% |
4 Bed | $677,000 | 0.9% |
| 5 Bed | $1,207,000 | -0.9% |
% of Housing Stock
Rental Trends — Portland, ME
As of July '25, Rentcast reports the average rent in Portland, ME is $2,740, with a year-over-year rent change of 22.3%. Per bedroom, the median rent as of July '25 in Portland, ME is studios: $1,650, 1-bedrooms: $2,540, 2-bedrooms: $2,200, 3-bedrooms: $3,500, 4-bedrooms: $4,950. The most common rental property sizes in Portland, ME are 1-bedroom and 2-bedroom, accounting for 41.6% and 34.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,240 | $2,740 |
| Studio Rent | $1,650 | $1,650 |
| 1 Bed Rent | $1,850 | $2,540 |
| 2 Bed Rent | $2,200 | $2,200 |
| 3 Bed Rent | $3,750 | $3,500 |
| 4 Bed Rent | $4,950 | $4,950 |
% of Rental Stock
Property Listings — Portland, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Portland, ME is 59. This is a decrease of -5.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $658,000 | -10.0% |
Listing Count | 45 | -17.0% |
| Listings as % of Homes | 0.1% | -17.0% |
Days on Market | 59 | -5.0% |
Demographics — Portland, ME
As of the latest ACS Survey released in 2023, Portland, ME has a population of 17,600, which has remained stable by 0.8% over the past 5 years. Portland, ME is a moderately popular place for families, as children make up 16.3% of the population. The area has a highly educated workforce, with 62.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,600 | 0.8% |
% Under 18 | 16.3% | -0.6% |
% Seniors | 13.5% | 7.1% |
% WFH | 23.6% | 237.1% |
% w/ College Degree | 62.3% | 16.4% |
As of the latest ACS Survey released in 2023, Portland, ME is a predominantly white area, with 81.4% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Portland, ME is black, making up 5.8% of the population. Foreign-born residents account for 9.0% of the population in Portland, ME, and this percentage has decreased by 7.2% 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 | 81.4% | -4.5% |
% Black | 5.8% | 11.5% |
% Hispanic | 3.5% | 6.1% |
% Asian | 3.0% | -26.8% |
% Foreign Born | 9.0% | -7.2% |
Mortgage and Risk — Portland, ME
According to HUD data as of 2023, there were 248 mortgage originations in Portland, ME, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Portland, ME. Investor activity is low, as 4.0% 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 | 248 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Portland, ME
As of 2024, the percent of homes in Portland, ME under the Section 8 program is 18.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Portland, 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 | 1,017 |
Total Units Section 8 | 798 |
% Rentals under Section 8 | 18.6% |
% Occupied Section 8 | 88.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$200 | $1,850 | $1,650 |
| 2 Bedroom | -$80 | $2,200 | $2,120 |
| 3 Bedroom | -$1,150 | $3,750 | $2,600 |
| 4 Bedroom | -$2,040 | $4,950 | $2,910 |
Affordability — Portland, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $537,000 |
| Median Household Income | $79,600 |