The story of this market
The typical home in ZIP 04003 sells for about $854,000, or $450 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $2,400 a month.
ZIP 04003 — Bailey Island
The 04003 market is a niche, low-volume coastal area characterized by high vacancy rates and high price-to-rent ratios. Market activity is driven by seasonal demand and limited inventory, making it a challenging environment for traditional residential investors.
This ZIP is best suited for affluent retirees, second-home buyers, and those seeking a quiet coastal lifestyle, rather than daily commuters or budget-conscious families.
Median prices moved up 2.1% year over year.
Homes spend a median of 65 days on market with 6.0 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 0.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 04003, Cumberland County ME
The area is a coastal peninsula with significant exposure to storm surge, sea-level rise, and high-wind events typical of the Maine coast.
Economic momentum is driven by seasonal tourism and maritime industries, with limited new residential development due to geographic constraints.
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.
Commuting requires a drive of approximately 30-45 minutes to reach the employment hubs of Brunswick or Portland via Maine State Route 24.
The area is defined by its coastal access, featuring numerous public boat launches, hiking trails at Giant's Stairs, and proximity to Casco Bay.
The rental market is heavily influenced by seasonal demand and short-term vacation rentals, resulting in high vacancy rates during off-peak months.
The local economy is anchored by tourism, commercial fishing, and small-scale maritime services, with larger employment centers located in nearby Brunswick.
Public transit is non-existent; residents rely entirely on personal vehicles for transportation.
Development is strictly limited by local zoning and environmental protections for coastal resources.
The Cumberland County assessment process relies on municipal-level data provided by the Town of Harpswell.
Parcels are subject to local municipal taxes and regional school district assessments.
Property insurance premiums are elevated due to high coastal hazard exposure and the risk of severe winter storms.
Data retrieved from Census Bureau ZCTA-level tables.
A scenic coastal hiking trail offering dramatic ocean views.
A historic granite cribstone bridge connecting Bailey Island to Orr's Island.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.