Portland housing market
Typical home value
$537K
▲ 2.1% 1 yr
Typical rent
$2,296/mo
▲ 2.2% 1 yr
12-month forecast
+2.5%
#195 of 546 metros
Gross rent yield
5.1%
#393 of 546 · U.S. 6.3%
Days to pending
37 days
▲ +1 day 1 yr
Listings with a price cut
27%
▲ +2.4 pts 1 yr
Key takeaways
- 1The typical home is worth $536,605, up 2.1% in a year and up 27% over five years.
- 2Zillow forecasts home values rising 2.5% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $2,296/mo (+2.2% YoY), a 5.1% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,949/mo in principal and interest, $653 more than renting.
- 5Homes go under contract in 37 days (+1 day vs last year); 27% of listings have had a price cut.
Market temperature
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 45/100, #204 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Portland compares
| Measure | Portland | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +2.1% | +1.2% | #283 |
| Home value, 5-yr change | +27.0% | +19.7% | |
| 12-month forecast | +2.5% | +1.1% | #195 |
| Rent, 1-yr change | +2.2% | +2.7% | #383 |
| Gross rent yield | 5.1% | 6.3% | #393 |
| Price-to-rent ratio | 19.5 | 15.8 | |
| Mortgage P&I on typical home | $2,949 | $2,012 | |
| Income needed to buy | $147,835 | $100,902 | |
| Days to pending | 37 | 56 |
Cities in the Portland metro
5 cities with home value and rent data.
| Portland | $554K | ▲ 0.3% | $2,399 | ▲ 1.7% | 5.2% |
| South Portland | $519K | ▲ 3.4% | $2,413 | ▲ 2.4% | 5.6% |
| Biddeford | $506K | ▲ 0.5% | $1,924 | ▲ 1.3% | 4.6% |
| Scarborough | $689K | ▼ 0.6% | $2,714 | ▲ 6.2% | 4.7% |
| Kittery | $684K | ▲ 4.1% | $2,411 | ▼ 4.0% | 4.2% |
Run the numbers
Rental property calculator
Cash flow on a typical Portland rental ($537K, $2,296/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Portland home.
Rent vs buy
Is it cheaper to rent or buy in Portland?
Other Maine metros
Bangor, ME
$277K home$1,512 rent6.5% yield
▲ 2.0% 1 yr
Augusta, ME
$316K home$1,497 rent5.7% yield
▲ 0.6% 1 yr
Lewiston, ME
$329K home$1,589 rent5.8% yield
▲ 1.0% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.