Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$277,437+2.0% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 26% have cut their price
Income needed to buy, per year$60,143About 0.9× the local median income ($66,158): affordable for a typical household
Days on market68 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.1%Zillow expects prices to rise slightly
The typical home in Penobscot County, ME is worth $277,437, up 2.0% from a year ago. That is well above what local incomes have historically supported: fair value is about $244,401, so the area is 13.5% overvalued. It is a buyer's market: homes take about 68 days to sell, listings are up 12% from a year ago, 26% of listings have had a price cut. Zillow expects prices to rise about 2.1% over the next year. A household needs about $60,143 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $66,158. Typical rent is $1,512 a month, or $1,886 for a house. In the latest IRS figures, 455 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$277,437
Change in 1 year
+2.0%
Overvalued %
+13.5%
Show 7 more
Fair home value
$244,401
Change in 5 years
+31.4%
Zillow forecast, next 12 months
+2.1%
Home value to income
4.2×
Monthly mortgage payment (20% down)
$1,504
Income needed to afford it
$60,143
Property tax rate
1.16%
Rent and investing
Typical rent
$1,512
Typical rent for houses
$1,886
Price-to-rent ratio
15.3×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,543
Gross rental yield
6.54%
Cap rate (estimate)
4.25%
Market activity
Listings vs a year ago
+11.5%
Days on market
68
Listings with a price cut
26.4%
Show 3 more
Homes for sale
632
Pending sales per 100 listings
13
Asking price per sq ft
$187
People and jobs
Median household income
$66,158
Population change (1 year)
+0.4%
Unemployment rate
3.6%
Show 4 more
Population
157,967
Income adjusted for cost of living
$68,558
Net moves in (IRS)
+455
Cost of living (US = 100)
96.5
Schools, risk and environment
School rating (1 to 10)
6.0
FEMA hazard risk score (0 to 100)
78.0
Unhealthy air days a year
6
Show 4 more
Flood risk score
83.0
Wildfire risk score
29.3
Walkability (1 to 20)
6.3
Road, rail and air noise
53 dB
Questions people ask
Is Penobscot County, ME overvalued?
Home prices in Penobscot County, ME are well above what local incomes have historically supported: fair value is about $244,401, so the area is 13.5% overvalued.
Is Penobscot County, ME a buyer's or seller's market?
Penobscot County, ME is a buyer's market: homes take about 68 days to sell, listings are up 12% from a year ago, 26% of listings have had a price cut.
Are home prices going down in Penobscot County, ME?
Home values in Penobscot County, ME are up 2.0% over the last year. Zillow's forecast for the next 12 months is +2.1%.
How much do you need to earn to buy a home in Penobscot County, ME?
A household needs about $60,143 a year to afford the typical home in Penobscot County, ME at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $66,158.