Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$536,605+2.1% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 24% have cut their price
Income needed to buy, per year$116,325About 1.3× the local median income ($92,480): a stretch for a typical household
Days on market50 daysAbout the same pace as a year ago
Next 12 months+2.5%Zillow expects prices to rise slightly
The typical home in Portland-South Portland, ME is worth $536,605, up 2.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $468,717, so the area is 14.5% overvalued. It is a buyer's market: homes take about 50 days to sell, listings are up 23% from a year ago, 24% of listings have had a price cut. Zillow expects prices to rise about 2.5% over the next year. A household needs about $116,325 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 $92,480. Typical rent is $2,296 a month, or $2,764 for a house. In the latest IRS figures, 2,101 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
$536,605
Change in 1 year
+2.1%
Overvalued %
+14.5%
Show 7 more
Fair home value
$468,717
Change in 5 years
+27.0%
Zillow forecast, next 12 months
+2.5%
Home value to income
5.8×
Monthly mortgage payment (20% down)
$2,908
Income needed to afford it
$116,325
Property tax rate
1.00%
Rent and investing
Typical rent
$2,296
Typical rent for houses
$2,764
Price-to-rent ratio
19.5×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$2,087
Gross rental yield
5.13%
Cap rate (estimate)
3.34%
Market activity
Listings vs a year ago
+23.0%
Days on market
50
Listings with a price cut
24.0%
Show 3 more
Homes for sale
2,084
Pending sales per 100 listings
18
Asking price per sq ft
$363
People and jobs
Median household income
$92,480
Population change (1 year)
+0.7%
Unemployment rate
3.3%
Show 4 more
Population
577,635
Income adjusted for cost of living
$90,756
Net moves in (IRS)
+2,101
Cost of living (US = 100)
101.9
Schools, risk and environment
School rating (1 to 10)
6.2
FEMA hazard risk score (0 to 100)
75.2
Unhealthy air days a year
4
Show 4 more
Flood risk score
81.3
Wildfire risk score
44.0
Walkability (1 to 20)
8.3
Road, rail and air noise
54 dB
Questions people ask
Is Portland-South Portland, ME overvalued?
Home prices in Portland-South Portland, ME are well above what local incomes have historically supported: fair value is about $468,717, so the area is 14.5% overvalued.
Is Portland-South Portland, ME a buyer's or seller's market?
Portland-South Portland, ME is a buyer's market: homes take about 50 days to sell, listings are up 23% from a year ago, 24% of listings have had a price cut.
Are home prices going down in Portland-South Portland, ME?
Home values in Portland-South Portland, ME are up 2.1% over the last year. Zillow's forecast for the next 12 months is +2.5%.
How much do you need to earn to buy a home in Portland-South Portland, ME?
A household needs about $116,325 a year to afford the typical home in Portland-South Portland, ME at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $92,480.