ZIP Code 04345 Housing Market

📝 Local Market Notes

The housing market in ZIP code 04345, located within Kennebec County, Maine, exhibits a robust and accelerating price trajectory over the recent five-year period. The Home Price Index (HPI) for this specific ZIP code has risen from 233.64 in 2021 to 337.7 in 2025, representing a cumulative increase of approximately 44.5%. Although a slight dip occurred in 2023, the subsequent recovery through 2024 and 2025 indicates strong underlying demand. This trend suggests that the local market has not only recovered from previous adjustments but has also established a new, higher price baseline, outpacing the broader regional recovery patterns observed in the early 2020s. ZIP 04345 is currently outperforming both its immediate county and state counterparts. With a year-over-year growth rate of +7.21%, the ZIP code exceeds the Kennebec County average of +5.10% and significantly surpasses the Maine state average of +0.98%. This divergence signals that 04345 is a distinct sub-market with specific demand drivers that are not fully reflected in the wider county or state statistics. While nearby ZIP 04259 experienced a contraction of -7.49%, the resilience of 04345 highlights a localized strength, likely driven by specific neighborhood amenities or demographic preferences that insulate it from broader regional volatility. In terms of sub-market character, the data points to a mid-tier, owner-occupied community. The parent county’s median home value stands at $238,200, with a high owner-occupancy rate of 73.7%. Given the ZIP’s HPI of 337.7, which is well above the 2000 baseline of 100, properties in 04345 likely command a premium relative to the county median. The median household income of $69,077 suggests that while the area is not a luxury enclave, it is firmly established as a stable, middle-class residential zone. For prospective buyers, the practical takeaway is that this market is appreciating faster than the state average. With the 30-year mortgage rate at 7.40%, the rising HPI implies that entry costs are increasing rapidly. Residents and buyers should recognize that 04345 is a high-demand micro-market where inventory scarcity may be a persistent factor, distinguishing it from the more volatile or slower-moving neighboring areas.

Based on FHFA House Price Index data.