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  1. Home
  2. /Browse ZIP Codes
  3. /Maine
  4. /Orono, ME - 04473

Orono, ME—04473

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$323,000
0.7% YoY Growth
Household Income
$58,900
28.8% YoY Growth
Days on Market
100
338.0% Longer YoY
Home Price Forecast
2.5%
Median Rent
$1,580
35.8% YoY Growth
1-Bed Rent
$1,380
23.6% YoY Growth
2-Bed Rent
$1,580
19.3% YoY Growth
3-Bed Rent
$1,900
15.0% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Orono, ME

As of May '26, the median home price in Orono, ME is $323,000, with a year-over-year change of 0.7%. This indicates that home prices in Orono, ME are flat. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$323,0000.7%
Single Family $329,0001.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		N/AN/A
    3 Bed
    		$321,0000.6%
    4 Bed
    		$383,0000.3%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    2.2%
    1 Bedroom
    18.2%
    2 Bedrooms
    29.6%
    3 Bedrooms
    30.6%
    4 Bedrooms
    15.8%
    5+ Bedrooms
    3.6%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    3.0%
    1 Bedroom
    33.6%
    2 Bedrooms
    33.5%
    3 Bedrooms
    18.7%
    4 Bedrooms
    8.7%
    5+ Bedrooms
    2.5%

    Property Listings — Orono, ME

    As of May '26, Realtor.com reports that the median days on market for a home in Orono, ME is 100. This is a increase of 338.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$289,000-10.0%
    Listing Count
    		1886.0%
    Listings as % of Homes0.2%86.0%
    Days on Market
    		100338.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % Change
    Population
    		8,3802.8%
    % Under 18
    		9.5%-8.7%
    % Seniors
    		17.1%12.5%
    % WFH
    		8.7%67.3%
    % w/ College Degree
    		64.2%3.4%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio4.8
    Median Home Price$323,000
    Median Household Income$58,900

    Orono, ME — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    04489

    Webster

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    Bangor, ME

    04401

    Old Town, ME

    04468

    Frequently Asked Questions