ZIP Code 04276 Housing Market

📝 Local Market Notes

The housing market in ZIP code 04276, located within Oxford County, Maine, exhibits a volatile yet aggressive upward trajectory over the past five years. The Home Price Index (HPI) for this area rose from 153.11 in 2020 to 250.13 in 2024, representing a cumulative gain of approximately 63%. Although a slight dip occurred in 2023, the market rebounded sharply in 2024. This recent surge is significant when viewed against broader economic indicators, as the area’s year-over-year growth of 24.22% vastly outpaces the Oxford County average of 5.70% and the statewide increase of 0.98%. Such a pronounced divergence suggests that local supply constraints or specific demand drivers are influencing this sub-market independently of general regional trends. In terms of sub-market character, ZIP 04276 appears to function as a premium segment within a moderately priced county. The parent county’s median home value stands at $217,300, yet the ZIP’s HPI of 250.13 indicates that home values here are significantly higher than the county median. This is further supported by the high owner-occupancy rate of 80.6% in the region. Comparing nearby ZIPs, 04276’s HPI is lower than ZIP 04270’s 385.4 but higher than ZIP 04037’s 236.4, positioning it as an upper-middle tier market. The area’s median household income of $60,173 suggests that while incomes are moderate, housing costs in this specific ZIP are elevated relative to local earnings. For prospective buyers, the practical implication of this data is a highly competitive environment with limited affordability relative to local income levels. With the national 30-year mortgage rate at 7.40%, the cost of entry in ZIP 04276 is substantial. The rapid appreciation rate signals that equity gains have been strong for existing owners, but new entrants face a market where prices are decoupling from broader state trends. Buyers should anticipate that the premium pricing in this ZIP reflects specific local desirability factors, requiring careful financial planning to accommodate higher monthly obligations compared to the rest of Oxford County.

Based on FHFA House Price Index data.