ZIP Code 04538 Housing Market
ZIP code 04538 is located in Lincoln County, Maine. Based on the FHFA House Price Index, the most recent annual HPI value is 311.6 (2000 = 100) as of 2025.
📈 04538 HPI Trend
FHFA House Price Index for Five-Digit ZIP Codes (2000 = 100)
📝 Local Market Notes
The housing market in ZIP code 04538, located in Lincoln County, Maine, exhibits a distinct pattern of volatility followed by sustained appreciation. The FHFA House Price Index for this ZIP code reveals a complex trajectory over the past five years. After a slight dip from 179.99 in 2019 to 170.75 in 2020, prices surged to 198.21 in 2021. This momentum accelerated sharply, reaching 258.01 in 2022, before climbing to a latest reading of 311.61 in 2025. This progression indicates a sub-market that has decoupled from broader regional trends, experiencing significant equity growth relative to its historical baseline. When comparing year-over-year performance, ZIP 04538 aligns closely with the parent county’s growth rate of +3.02%, while significantly outpacing the state average of +0.98%. This divergence suggests that local demand drivers within Lincoln County are stronger than those affecting the state at large. Furthermore, the ZIP’s HPI of 311.61 exceeds nearby comparables, such as ZIP 04572 at 286.6 and ZIP 04578 at 256.1. This positioning indicates that 04538 functions as a premium segment within the county, likely driven by specific locational amenities or limited inventory that supports higher valuations than surrounding areas. The sub-market character appears to be owner-occupied and established, consistent with the county’s 82.5% owner occupancy rate. With a median home value of $332,700 and a median household income of $76,875, the area supports middle-to-upper-middle-class homeownership rather than entry-level or renter-heavy dynamics. The median gross rent of $1,055 per month further reflects a stable residential base. For prospective buyers, the practical takeaway is that ZIP 04538 represents a mature, appreciating market. However, with the 30-year mortgage rate at 7.40%, high HPI levels mean monthly carrying costs remain substantial. Residents and investors should recognize that this ZIP commands a price premium over neighboring codes, reflecting its established status within the Lincoln County housing hierarchy.
About This ZIP Code
ZIP code 04538 is one of the most active real estate sub-markets in Lincoln County, Maine. The FHFA House Price Index tracks cumulative price appreciation since 2000, providing a consistent measure of long-term value change in this specific ZIP area.
For full county-level context, see the Lincoln County Housing Market page, which includes ACS median home values, rent, owner-occupancy, employment, migration, and other economic indicators.
Other Active ZIPs in Lincoln County
| ZIP Code | HPI | YoY | Latest Year |
|---|---|---|---|
| 04572 | 286.6 | -6.20% | 2025 |
| 04578 | 256.1 | +0.46% | 2025 |
| 04555 | 220.9 | +15.23% | 2021 |
Data Source: FHFA House Price Index for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100). Data as of 2025. This product uses FHFA Data but is neither endorsed nor certified by FHFA.