Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$228,626+1.9% YoY · prices are rising
Market right nowBalanced, leaning buyersMore homes for sale than last year, 14% have cut their price
Income needed to buy, per year$49,561About 0.8× the local median income ($60,314): affordable for a typical household
Days on market80 daysSlower than a year ago: buyers have time to negotiate
The typical home in Somerset County, ME is worth $228,626, up 1.9% from a year ago. That is well above what local incomes have historically supported: fair value is about $197,516, so the area is 15.8% overvalued. It is a balanced market, leaning toward buyers: homes take about 80 days to sell, listings are up 6% from a year ago, 14% of listings have had a price cut. A household needs about $49,561 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 $60,314. Typical rent is $1,265 a month. In the latest IRS figures, 532 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
$228,626
Change in 1 year
+1.9%
Overvalued %
+15.8%
Show 6 more
Fair home value
$197,516
Change in 5 years
+37.6%
Home value to income
3.8×
Monthly mortgage payment (20% down)
$1,239
Income needed to afford it
$49,561
Property tax rate
1.08%
Rent and investing
Typical rent
$1,265
Price-to-rent ratio
15.1×
HUD Fair Market Rent, 2 bedrooms
$1,242
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Gross rental yield
6.64%
Cap rate (estimate)
4.32%
Market activity
Listings vs a year ago
+6.1%
Days on market
80
Listings with a price cut
14.4%
Show 3 more
Homes for sale
262
Pending sales per 100 listings
12
Asking price per sq ft
$204
People and jobs
Median household income
$60,314
Population change (1 year)
+0.3%
Unemployment rate
3.5%
Show 4 more
Population
51,620
Income adjusted for cost of living
$65,845
Net moves in (IRS)
+532
Cost of living (US = 100)
91.6
Schools, risk and environment
School rating (1 to 10)
4.5
FEMA hazard risk score (0 to 100)
67.9
Flood risk score
61.8
Show 3 more
Wildfire risk score
22.1
Walkability (1 to 20)
5.8
Road, rail and air noise
54 dB
Questions people ask
Is Somerset County, ME overvalued?
Home prices in Somerset County, ME are well above what local incomes have historically supported: fair value is about $197,516, so the area is 15.8% overvalued.
Is Somerset County, ME a buyer's or seller's market?
Somerset County, ME is a balanced market, leaning toward buyers: homes take about 80 days to sell, listings are up 6% from a year ago, 14% of listings have had a price cut.
Are home prices going down in Somerset County, ME?
Home values in Somerset County, ME are up 1.9% over the last year.
How much do you need to earn to buy a home in Somerset County, ME?
A household needs about $49,561 a year to afford the typical home in Somerset County, ME at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $60,314.