ZIP Code 04108 Housing Market

📝 Local Market Notes

ZIP code 04108 has demonstrated a robust upward trajectory in housing values, with the FHFA House Price Index rising from 292.27 in 2021 to 438.69 in 2025. This four-year period reflects a cumulative appreciation of approximately 50%, indicating sustained demand within this specific Cumberland County sub-market. The recent annual growth of 4.55% continues this momentum, outpacing the broader Maine state average of 0.98% and slightly exceeding the county-wide growth rate of 4.07%. This divergence suggests that 04108 is experiencing localized strength, potentially driven by specific neighborhood amenities or inventory constraints that distinguish it from the wider regional market. The sub-market character of 04108 aligns with the upper-middle segment of Cumberland County’s housing landscape. The parent county reports a median home value of $451,200 and a median household income of $95,677, supporting a market where owner-occupancy stands at 69.8%. While nearby ZIPs such as 04096 and 04084 show higher year-over-year growth rates of 7.87% and 7.34% respectively, their lower HPI levels (359.6 and 338.4) indicate they remain more affordable entry points compared to 04108. The higher HPI index in 04108 signals a premium positioning relative to these adjacent areas, catering to buyers seeking established neighborhoods with higher value retention. For prospective residents, the data indicates a market defined by consistent appreciation rather than rapid speculative spikes. The 6.8% premium over the state growth rate highlights 04108 as a resilient asset class within Maine. Buyers should note that while the 30-year mortgage rate remains elevated at 7.40%, the underlying equity growth in 04108 has historically outpaced inflation and regional averages. The combination of strong owner-occupancy and income levels suggests a stable, long-term investment environment. However, the widening gap between 04108 and neighboring ZIPs may limit cross-market arbitrage opportunities, as price differentials have become more pronounced. Ultimately, 04108 functions as a distinct, high-value enclave within Cumberland County, characterized by steady, above-average price appreciation and a demographic profile aligned with established homeownership.

Based on FHFA House Price Index data.