The story of this market
The typical home in ZIP 04987 sells for about $320,000, or $226 per square foot.
Prices are down 5.4% from a year ago, which gives buyers more room to negotiate. Homes take about 30 days to sell. HUD's fair market rent for a two-bedroom is $1,255 a month.
ZIP 04987 — Troy
The housing market in 04987 remains stable with low transaction volume typical of a rural Maine town. Prices have seen a slight year-over-year adjustment, reflecting broader regional trends in inventory and demand. Market activity is driven by local buyers rather than speculative investment.
This ZIP is best suited for rural-lifestyle seekers, families looking for affordable housing, and those who prefer a quiet, small-town environment away from major urban centers.
Median prices moved down 5.4% year over year.
Homes spend a median of 30 days on market with 9.6 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 17.8% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 04987, Waldo County, Maine
The area is subject to standard Maine climate risks, including winter storm exposure and seasonal flooding near local ponds.
Economic momentum is primarily driven by local agriculture and small-scale commerce, with limited large-scale industrial 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.
Commuting is primarily car-dependent via U.S. Route 202 and Maine State Route 220, with limited public transit options available.
The area features significant natural amenities including Carlton Pond and proximity to Unity Pond, offering opportunities for fishing, boating, and rural trail access.
The rental market is characterized by low density and limited inventory, primarily serving local residents and students from nearby institutions.
The local economy is largely agrarian and service-oriented, supported by small businesses and regional educational institutions in neighboring towns.
Transportation is dominated by private vehicle use on state and federal highways; there is no significant public transit infrastructure.
There are no major large-scale commercial or residential developments currently reported for this rural ZIP code.
Waldo County assessments are conducted at the municipal level, focusing on fair market value for residential and agricultural parcels.
Parcels are subject to municipal property taxes and regional school district levies.
Property insurance premiums are influenced by rural fire protection ratings and regional weather-related hazard exposure.
Maine is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Maine law requires sellers to provide a property disclosure statement regarding the condition of the home's systems and structure.
Data retrieved from census.gov ZCTA profiles.
A significant local water body providing recreational fishing and wildlife viewing.
A large regional lake bordering the area, popular for seasonal recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.