Property Makler
Advanced analytics for residential real estate investing

Portland-South Portland, ME housing market

Housing market indicators

Indicator	2022	2023	2024	2025*	2022	2023	2024	YTD
Median Listing Price per Square Feet	$337	$350	$377	$379	14.2%	3.9%	7.7%	0.5%
Active Listing Count	808	858	1,065	1,693	35.1%	6.2%	24.1%	59%
Median Days on Market	57	59	67	52	-1.7%	3.5%	13.6%	-22.4%
Share of listings with price increase	1.4%	0.7%	0.5%	0.3%
Share of listings with price decrease	10.2%	11.4%	13.6%	14.6%

* last available value

Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED

The Portland-South Portland, ME Metropolitan Statistical Area (MSA) encompasses Cumberland County and York County in southern Maine.
Total population stands at 571,534 as of 2024, up from 552,599 in 2020, reflecting 0.83% annual growth.
Land area covers 2,081.4 square miles with a density of 272.1 people per square mile.
Key urban centers include Portland (68,408 residents), South Portland (26,994 projected for 2025), and surrounding suburbs like Scarborough, Biddeford, and Brunswick.
Geographic regions feature coastal zones along Casco Bay, inland suburban areas, and southern extensions toward York County.

Area	City/Town	Population	Density (per sq mi)	Income	Quality of Schools (GreatSchools range)	Crime Level	Property Tax (%)	Comments
Core Urban	Portland	68,408	3,106	Median household $76,870	4-8	Moderate	1.9-2.2	County seat, service economy hub, dense housing.
Core Urban	South Portland	26,994	2,800	High - Median $84,563, per capita $53,937	5-9	Low-moderate	1.8-2.1	Commercial port, growing suburbs, low poverty 6%.
Northern Suburbs	Scarborough	22,000	500	High	7-10	Low	1.7	Affluent beaches, strong schools.
Southern Extension	Biddeford	22,000	900	Low-median	3-7	Moderate-high	2.0	University presence, revitalizing.
Southern Extension	Sanford	21,000	300	Low	3-6	Moderate	2.1	Manufacturing base, affordable housing.
Mid-Coast	Brunswick	15,000	400	Median-high	6-9	Low	1.8	College town, naval history.

To view all table columns, please open this table on a laptop or desktop screen.

Median age across MSA is 43.7 years.
Average household income in South Portland reaches $107,100; Portland median household income $76,870 with 76.87% White population.
Per capita income in South Portland $53,937; MSA-wide median household income estimated $75,000-$85,000 in suburbs.
Education levels high: Universities like University of Southern Maine (6,628 students), University of New England (2,749), Southern Maine Community College (6,734).
Bachelor's attainment around 35-40% in urban cores, higher in suburbs like Scarborough.
Poverty rate low at 6% in South Portland; MSA overall 8-10%.

Service sector dominates, including healthcare, education, and tourism.
Port of Portland handles second-largest tonnage in New England, supporting marine economy and shipping.
Light industry, manufacturing in southern areas like Sanford.
Higher education with multiple colleges and universities employing thousands.
Commercial shipping and professional services in Portland core.
Retail and hospitality along Casco Bay coastal regions.

Zoning restrictive in urban Portland, favoring preservation over high-density builds.
Suburban areas like Scarborough more open to single-family expansions but limit multifamily.
Regulatory strictness high due to environmental coastal protections and historic districts.
Construction workforce costs elevated, 20-30% above national average amid labor shortages.
New permits low: Under 2,000 units annually despite population growth to 571,534.
Land scarcity in core areas drives up costs; York County more available but infrastructure lags.

Net migration positive, +12,403 from 2010-2015, continuing with remote workers from high-cost states.
Growing healthcare and education sectors add 5,000+ jobs yearly.
Port expansion boosts logistics, attracting 2-3% workforce influx.
Declining manufacturing in Sanford slows local demand there.
Suburban appeal draws families to Scarborough, up 10% population since 2020.
Remote work migration from Northeast cities increases Portland core demand by 15%.

Inventory shortage: Only 33,836 units in Portland 2010, homeownership 45%, vacancy under 3%.
Median home prices rose 40% since 2020 to $500,000+ in core areas.
High property taxes 1.7-2.2% deter first-time buyers.
Aging housing stock needs updates; 40% units pre-1960.
Coastal flooding risks raise insurance 20-50% premiums.
Labor shortages delay builds; permitting takes 6-12 months.
No local personal income tax beyond state 5.8-7.15%; focuses burden on property taxes.

Area	Appreciation Potential	Risk	Key Drivers
Portland Core	High	Medium	Service growth, migration, port activity; density limits supply.
South Portland	High	Low	Income growth, low poverty, commercial expansion.
Scarborough Suburbs	High	Low	Family migration, top schools, beach proximity.
Brunswick	Medium-High	Low	Education hub, stable demand.
Biddeford/Sanford	Medium	High	Revitalization vs. manufacturing decline, higher crime.