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These days, finding an affordable place to live in the Portland area can be challenging. Home prices in Portland are now at a median cost of $544,824, higher than the Maine average of $330,167.
The average cost of rent is $1,590/mo in Portland, primarily driven by the current value of real estate in the Portland area. In Portland, 53.71% of households rent, and 35.81% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Portland is $7,509 per month. Households that rent pay about 21.18% of their income on rent here. Portland’s most expensive areas are in the southern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- South Portland, ME: less expensive homes
- Falmouth, ME: higher priced homes
- Peaks Island, ME: higher priced homes
- Westbrook, ME: less expensive homes
- Cape Elizabeth, ME: higher priced homes
- Cash Corner, ME: equally priced homes
- Long Island, ME: higher priced homes
- Scarborough, ME: equally priced homes
- Cumberland Foreside, ME: higher priced homes
- Gorham, ME: less expensive homes
Cities with Similar Populations
- Syracuse, NY: less expensive homes
- Tallahassee, FL: less expensive homes
- Tacoma, WA: equally priced homes
- Springfield, MA: less expensive homes
- Stamford, CT: equally priced homes
- Spring Valley, NV: less expensive homes
- Summerville, SC: less expensive homes
- St. Paul, MN: less expensive homes
- Stockbridge, GA: less expensive homes
- Statesville, NC: less expensive homes
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