ZIP Code 04037 Housing Market

📝 Local Market Notes

The housing market in ZIP code 04037, located in Oxford County, Maine, demonstrates a robust upward trajectory over the past five years. The Home Price Index (HPI) for this area has risen from 162.57 in 2021 to 236.39 in 2025. This progression indicates consistent appreciation, with the most recent year showing an 8.68% year-over-year increase. Such sustained growth suggests strong demand relative to supply within this specific geographic segment, distinct from broader regional trends. When compared to the wider Oxford County, which recorded a 5.70% year-over-year increase, and the state of Maine, which saw a 0.98% rise, ZIP 04037 is outperforming both benchmarks significantly. This divergence signals that local factors are driving price appreciation at a faster rate than the surrounding county or state averages. While nearby ZIP codes 04270 and 04276 exhibit even higher HPI levels and growth rates, 04037 remains a distinct sub-market. The county’s median home value of $217,300 and median household income of $60,173 suggest a market characterized by moderate affordability rather than luxury pricing. With an owner-occupancy rate of 80.6%, the area leans toward residential stability, though the median gross rent of $836 per month indicates a viable rental sector. For prospective buyers, the data highlights a market where prices are rising faster than the state average, potentially impacting long-term affordability. The current 30-year mortgage rate of 7.40% further influences purchasing power in this appreciating environment. Residents and investors should note that while the sub-market is not entry-level, it offers a balance between value and growth. The significant outperformance relative to the state suggests that specific local amenities or economic drivers are sustaining demand. Consequently, stakeholders should monitor the gap between ZIP-level and county-level growth, as the current 8.68% increase in 04037 represents a premium over the regional baseline. This specific dynamic requires careful consideration for those planning to enter the housing market in this Oxford County location.

Based on FHFA House Price Index data.