The story of this market
The typical home in ZIP 04032 sells for about $445,800, or $255 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,439 a month.
ZIP 04032 — Freeport
The housing market in 04032 remains resilient with steady price growth and low inventory levels. Demand is driven by the area's high quality of life and proximity to Portland, though affordability remains a concern for some buyers.
This ZIP is ideal for families and professionals who value a coastal small-town lifestyle with convenient access to Portland's employment hub.
Median prices moved up 3.2% year over year.
Homes spend a median of 45 days on market with 3.8 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 8.5% — 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 5.1%/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 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 04032, Cumberland County ME
Crime rates in Freeport are generally low, with property and violent crime incidents occurring at rates below the national average.
Schools serving the area are part of RSU 5, which is generally well-regarded for its academic performance and community engagement.
The area faces moderate risks from winter storms and coastal flooding in low-lying areas, with standard insurance coverage typically available.
Economic momentum is driven by the retail and tourism sectors, anchored by L.L. Bean, alongside steady residential development.
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.
Commuters primarily utilize I-295 for access to Portland, with a typical drive time of 20-30 minutes depending on traffic.
The area features extensive outdoor amenities including Wolfe's Neck Woods State Park, coastal trails, and the vibrant Freeport village shopping district.
The rental market is tight with low vacancy rates, driven by demand from seasonal workers and those seeking proximity to Portland.
The local economy is heavily influenced by the retail sector, particularly L.L. Bean, and a growing tourism and hospitality industry.
The area is served by I-295 and local bus routes, with limited public transit options compared to the Portland urban core.
Development is focused on maintaining the town's historic character while allowing for controlled residential growth.
The Cumberland County assessment regime follows standard Maine property tax statutes with annual adjustments.
Parcels are subject to RSU 5 school district taxes and municipal service districts.
Property insurance premiums are stable, though coastal properties may require specific flood insurance policies.
Maine has seen a steady influx of domestic migrants, particularly from the Northeast, seeking lifestyle changes.
Maine is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a property disclosure statement regarding known defects.
Data retrieved from Census Bureau ZCTA-level tables.
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.
Coastal park with hiking trails and scenic views.
Major retail and outlet shopping destination.
Iconic retail anchor and community hub.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.