ZIP Code 03904 Housing Market

📝 Local Market Notes

The housing market in ZIP code 03904 has demonstrated a consistent upward trajectory over the past five years. The Home Price Index (HPI) rose from 231.76 in 2021 to 343.76 in 2025, representing a cumulative increase of approximately 48.3%. This sustained growth indicates a robust appreciation cycle that has outpaced broader regional trends. The most recent year-over-year change of +3.07% suggests that while momentum remains positive, the rate of appreciation is moderating compared to the steeper gains observed in 2022 and 2023. ZIP 03904 currently exhibits a notable divergence from its parent county, York County, which posted a higher year-over-year growth rate of +5.68%. Additionally, the ZIP’s performance contrasts sharply with the state of Maine, which saw a modest +0.98% increase. This relative underperformance compared to the county average suggests that local demand in 03904 may be stabilizing or facing specific constraints, such as inventory limitations or affordability ceilings, that are not affecting the wider county as intensely. Compared to nearby ZIP 03906, which grew by +4.40%, and ZIP 04083, which declined by -2.31%, 03904 maintains a middle-ground position, indicating a balanced but not aggressive market environment. The sub-market character of ZIP 03904 aligns with a premium, owner-occupied segment. With an HPI of 343.76, the area commands a price level significantly above the 2000 baseline. This is consistent with the parent county’s median home value of $395,700 and a high owner-occupancy rate of 77.3%. The median household income of $88,333 supports this ownership-heavy profile, suggesting the market serves established residents rather than a transient renter demographic, given the median gross rent of $1,339. For prospective buyers, the data indicates a stable, high-value neighborhood where appreciation has been strong but is now decelerating relative to the county. With the 30-year mortgage rate at 7.40%, entry costs remain elevated, requiring careful financial planning to align with the area’s premium pricing structure.

Based on FHFA House Price Index data.