The story of this market
The typical home in Portland, Maine sells for about $639,000, or $365 per square foot.
Prices are down 9.8% from a year ago, which gives buyers more room to negotiate. Homes take about 54 days to sell. HUD's fair market rent for a two-bedroom is $1,577 a month.
Monthly price momentum
Home values since 2015
+6.8%
ME · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Portland, Maine
The Portland housing market is currently experiencing a cooling phase as inventory levels rise and price growth moderates. While demand remains supported by the city's strong economic base and desirability, buyers are becoming more selective, leading to longer days on market and a higher frequency of price adjustments.
No ARED county foreclosure postings attributed to Portland yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Deterministic aggregate of 6 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved down 7.5% year over year.
Homes spend a median of 43 days on market with 0.2 months of supply — a fast-moving market.
2% of listings have cut prices · homes sell at 6.24% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.2% · poverty 11.5% — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A historic 68-acre park offering panoramic views of Casco Bay and extensive walking trails.
The city's historic district featuring cobblestone streets, boutique shops, and world-class seafood restaurants.
The oldest and largest public art institution in Maine, housing a significant collection of American and European art.
Portland is ideal for professionals, families, and retirees who value a walkable, coastal lifestyle with rich cultural amenities. It is less suited for those seeking low-cost housing, as the market remains competitive and expensive relative to the broader region.
The city is served by the Portland Public Schools district, which offers a diverse range of educational programs. Schools are generally well-regarded for their commitment to student support and community engagement.
The city is served by a network of local bus routes and is a hub for regional transit, including ferry services to the islands and proximity to I-295.
Portland offers an exceptional amenity base, featuring extensive waterfront access, the historic Old Port district, and numerous parks like the Eastern Promenade. Residents enjoy a high quality of life with abundant trails, local dining, and cultural venues.
The rental market in Portland is characterized by high demand and low vacancy rates, driven by the city's popularity as a destination and its limited housing supply. Short-term rental regulations are strictly enforced to preserve long-term housing availability.
Portland's economy is driven by a mix of healthcare, higher education, and a thriving tourism and hospitality sector. The city serves as the primary economic engine for the state of Maine.
The city's economy is anchored by healthcare, education, and a robust tourism sector. Development momentum remains steady with ongoing efforts to expand housing stock and revitalize the downtown peninsula.
The city is actively pursuing transit-oriented development and affordable housing initiatives to manage growth and maintain urban density.
Parcels in Portland are subject to municipal and county taxes; there are no MUD or PID districts common in other states.
Portland experiences crime rates typical of a mid-sized coastal city, with property crime being the primary concern. Local law enforcement reports stable trends, though residents are encouraged to remain vigilant in high-traffic tourist areas.
Portland faces moderate risks from coastal flooding and severe winter weather events. Property owners are advised to maintain adequate insurance coverage, particularly for properties located in low-lying harbor areas.
Property insurance premiums are rising due to coastal hazard exposure and the increasing frequency of severe weather events in the Northeast.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Maine) — Maine Resident Homestead Property Tax Exemption: Provides a reduction in the valuation of the homestead for property tax purposes. The exemption amount is set by state statute (currently $25,000 of the just value of the property). The formula is: (Just Value - Homestead Exemption) * Local Tax Rate = Tax Due.
Researched annual trajectory for this city, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this city's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Data retrieved from U.S. Census Bureau QuickFacts and ACS profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.