The story of this market
The typical home in ZIP 04074 sells for about $500,000, or $440 per square foot.
Prices are down 17.9% from a year ago, which gives buyers more room to negotiate. Homes take about 18 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,956 a month.
ZIP 04074 — Scarborough
The Scarborough housing market is currently experiencing a price correction after years of rapid appreciation, with median prices down 17.9% year-over-year. Despite this, demand remains competitive for well-located properties, supported by strong local income levels and proximity to Portland. The market is transitioning toward a more balanced state as inventory levels stabilize.
This ZIP is ideal for families and professionals seeking a balance between coastal lifestyle and proximity to Portland's job market, offering a mix of traditional and modern housing.
Median prices moved down 17.9% year over year.
Homes spend a median of 18 days on market with 1.7 months of supply — a fast-moving market.
20% 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 2.0% · poverty 4.3% — 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 4.9%/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 4.4%/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 04074, Cumberland County ME
Scarborough schools are generally well-regarded, serving as a primary draw for families moving to the area.
The area faces coastal flood risks and wind exposure typical of the Maine shoreline, with insurance premiums reflecting these environmental factors.
Scarborough benefits from its proximity to the Portland employment core and ongoing residential development, with a focus on balancing growth with coastal preservation.
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.
Residents primarily commute to Portland and South Portland via I-95 and US-1, with travel times typically ranging from 15 to 25 minutes depending on traffic.
The area features extensive access to the Eastern Trail, Scarborough Marsh, and several public beaches, alongside local shopping and dining hubs.
The rental market remains tight with steady demand, though rent growth has moderated recently due to increased inventory.
The local economy is anchored by retail, healthcare, and professional services, with significant employment spillover from the nearby Portland metro area.
The town is actively managing growth through the redevelopment of the Downs site, which includes new residential and commercial space.
Parcels are subject to Scarborough municipal taxes and the Scarborough School District levy.
Property insurance costs are influenced by coastal hazard zones and the regional climate risk profile.
Data retrieved from Census Reporter and ACS 2024 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.
The largest salt marsh in Maine, offering bird watching and kayaking.
A major multi-use trail connecting Scarborough to neighboring towns.
A popular coastal destination for residents and tourists.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.