South Portland, Maine Housing Market Prices
South Portland Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 42% above the Maine median$370,394
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Median rent 59% above the Maine median$1,811
Housing Market Overview
| Metric | South Portland | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $370,394 | $261,367 | $248,835 |
| Price Trend (Annual %) | 11.1% | 8.5% | 7.5% |
| Median Gross Rent | $1,811 | $1,139 | $1,407 |
| Rent Trend (Annual %) | 6.6% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in South Portland is about 42% higher than in Maine. Rent is about 59% higher than the Maine average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in South Portland, up about 11.1% and 6.6% a year respectively. Home prices are changing faster.
Median rent in South Portland rose about 73.3% between 2015 and 2024, from $1,045 to $1,811. Over the same span, rent in Maine rose about 46.7%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in South Portland.
Buying the median-priced home in South Portland costs roughly 17.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in South Portland. The price-to-rent ratio in Maine is about 19.1.
| Metric | South Portland | Maine Avg | US Average |
|---|---|---|---|
| Median Home Price | $370,394 | $261,367 | $248,835 |
| Median Household Income | $86,747 | $74,723 | $80,455 |
| Price-to-Income Ratio | 4.3 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in South Portland rose about 95.1%, while median household income rose about 58.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | South Portland | Maine Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.4% | 59.0% | 58.5% |
| Rental Rate | 39.8% | 20.4% | 31.2% |
| Vacancy Rate | 4.9% | 20.6% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
South Portland has a homeownership rate of 55.4%, lower than the Maine average of 59.0%. Its housing vacancy rate is 4.9%, compared with 20.6% in Maine.
Housing Stock
| Metric | South Portland | Maine Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.25 people | 2.53 people |
| Median Structure Built Year | 1964 | 1974 | 1978 |
| Median Number of Rooms | 5.3 | 5.5 | 5.5 |
The typical housing unit in South Portland was built around 1964. On average, 2.1 people live in a home with about 5.3 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in South Portland, Maine.
What is the median home price in South Portland, Maine?
The median home price in South Portland, Maine is $370,394, higher than the Maine average of $261,367.
What is the average home price in South Portland, Maine?
The typical home price in South Portland, Maine, reported as the median sale price, is $370,394. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in South Portland, Maine?
The median gross rent in South Portland, Maine is $1,811 per month, higher than the Maine average of $1,139.
What was the median gross rent in South Portland in 2020?
In 2020, the median gross rent in South Portland, Maine was $1,346 per month.
What is the price-to-rent ratio in South Portland, Maine?
The price-to-rent ratio in South Portland, Maine is about 17.0, meaning it would take roughly 17.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in South Portland.
Are home prices or rent rising faster in South Portland, Maine?
Both home prices and rent are rising in South Portland, up about 11.1% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in South Portland, Maine?
55.4% of households in South Portland, Maine own their home, lower than the Maine average of 59.0%.
What is the vacancy rate in South Portland, Maine?
The housing vacancy rate in South Portland, Maine is 4.9%, lower than the Maine average of 20.6%.
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