Home Values in South Portland, Maine — 2026 Market Report
Updated March 2026 | Seller's Market | +3.1% YoY
The median home value in South Portland, Maine is $375,000 as of March 2026, which is near the national median of $400,000. Home values in South Portland have increased by 3.1% over the past year and 16.5% over the last five years. With a population of 25,665 and a median household income of $62,250, the price-to-income ratio stands at 6.0x, making South Portland affordable for the average household.
South Portland Housing Market Conditions
| Metric | South Portland | National Avg |
|---|---|---|
| Median Home Value | $375,000 | $400,000 |
| YoY Appreciation | +3.1% | +3.8% |
| 5-Year Appreciation | +16.5% | +22.4% |
| Price per Sq Ft | $108 | $222 |
| Days on Market | 42 days | 45 days |
| Months of Supply | 2.4 | 3.5 |
| List-to-Sale Ratio | 96.7% | 98.5% |
| Monthly Homes Sold | 18 | — |
| Foreclosure Rate | 0.26% | 0.3% |
Home Value Trends in South Portland
A homeowner who purchased at the median price of $321,888 five years ago in South Portland would have gained approximately $53,112 in equity, representing a 16.5% return on investment. Over the past year alone, the typical homeowner gained $11,275 in home equity.
Affordability in South Portland, ME
With a median household income of $62,250 and a median home price of $375,000, the price-to-income ratio in South Portland is 6.0x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,272 compared to estimated monthly ownership costs of $2,187 gives a rent-vs-buy ratio of 0.96. In South Portland, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in South Portland
The effective property tax rate in Maine is 1.3%. On a home valued at $375,000, the estimated annual property tax bill is $4,875, or approximately $406/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in South Portland is 108.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in South Portland, ME?
The median home value in South Portland, Maine is $375,000 as of March 2026. Home values have changed +3.1% over the past year, with a 5-year appreciation of 16.5%.
Is South Portland a buyer's or seller's market?
South Portland is currently a seller's market with 2.4 months of housing supply. Homes spend an average of 42 days on market, and the list-to-sale price ratio is 96.7%. Low inventory gives sellers an advantage.
Are home values going up in South Portland?
Yes, home values in South Portland have increased by 3.1% over the past year. The 5-year appreciation rate is 16.5%, meaning a home worth $321,888 five years ago is now worth $375,000.
Is it better to rent or buy in South Portland?
The average monthly rent in South Portland is $2,272, while estimated monthly homeownership costs are approximately $2,187. The price-to-rent ratio is 13.8. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for South Portland, Maine is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.