ZIP Code 04609 Housing Market

📝 Local Market Notes

ZIP code 04609 in Hancock County, Maine, exhibits a pronounced upward price trajectory that significantly outpaces broader regional trends. The FHFA House Price Index for this specific ZIP has surged from 306.85 in 2021 to 485.14 in 2025, representing a cumulative appreciation of approximately 58% over four years. This sustained growth indicates a robust demand environment that has persisted despite the prevailing 7.40% national 30-year mortgage rate. The recent year-over-year increase of 5.65% further confirms that momentum remains strong within this localized market segment, distinguishing it from the more moderate 3.67% county-wide growth and the negligible 0.98% state average. The divergence between ZIP 04609’s performance and the surrounding area signals a distinct sub-market character. While nearby ZIP codes such as 04429 and 04605 show flat to negative year-over-year changes, 04609’s HPI of 485.1 is substantially higher than its neighbors. This premium pricing suggests the area functions as a high-end or secondary market, likely driven by seasonal demand or specific amenity-driven appeal rather than general primary residence needs. The parent county’s median home value of $310,400 and 78.5% owner-occupancy rate provide a baseline, but the ZIP-specific data implies that properties in 04609 command a significant premium over the county median, potentially catering to buyers seeking specific coastal or recreational features. For prospective buyers, the data indicates a market with high entry barriers relative to the local average. The median gross rent in Hancock County is $1,061, and the median household income is $72,744, yet the rapid appreciation in 04609 suggests that housing costs in this ZIP likely exceed these county medians considerably. Residents and investors should recognize that this sub-market is decoupled from the broader state trends, characterized by accelerated price growth that may limit affordability for local wage earners. Consequently, the market dynamics in 04609 reflect a niche segment where demand resilience has driven prices well above the regional norm, requiring a careful assessment of individual financial capacity against the elevated price point.

Based on FHFA House Price Index data.