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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



South Portland, ME Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

South Portland, ME Housing Market Trends

With 27,026 people, 11,769 houses or apartments, and a median cost of homes of $533,791, South Portland real estate is some of the most expensive in Maine, although South Portland home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in South Portland, accounting for 55.82% of the city's housing units. Other types of housing that are prevalent in South Portland include large apartment complexes or high rise apartments ( 21.62%), duplexes, homes converted to apartments or other small apartment buildings ( 16.30%), and a few row houses and other attached homes ( 5.68%).

People in South Portland primarily live in small (one, two or no bedroom) single-family detached homes. South Portland has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in South Portland built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in South Portland built before 1939 ( 27.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 27.57%). There's also some housing in South Portland built between 2000 and later ( 16.23%).

South Portland Home Appreciation Rates

In the last 10 years, South Portland has experienced some of the highest home appreciation rates of any community in the nation. South Portland real estate appreciated 122.85% over the last ten years, which is an average annual home appreciation rate of 8.34%, putting South Portland in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, South Portland definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, South Portland appreciation rates have trailed the rest of the nation. In the last twelve months, South Portland's appreciation rate has been 5.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Portland were at 1.39%, which equates to an annual appreciation rate of 5.67%.

Relative to Maine, our data show that South Portland's latest annual appreciation rate is higher than 50% of the other cities and towns in Maine.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within South Portland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South Portland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best South Portland real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$533,791

South Portland, ME Home Prices
> $1,437,000
$1,078,001 - $1,437,000
$719,001 - $1,078,000
$575,001 - $719,000
$431,001 - $575,000
$287,001 - $431,000
$144,001 - $287,000
$72,001 - $144,000
$0 - $72,000
1.8%
1.8%
5.8%
5.8%
15.6%
15.6%
18.1%
18.1%
24.6%
24.6%
24.2%
24.2%
7.8%
7.8%
0.4%
0.4%
1.8%
1.8%
0% 100.0%
% of Homes
Very High

for Maine

Very High

for nation

Number of Homes And Apartments:

11,769

South Portland Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,009 / per month

Homeownership Rate

Owners
Renters
61.0%
61.0%
39.0%
39.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.1%
5.1%
94.9%
94.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.2%
16.2%
28.6%
28.6%
27.6%
27.6%
27.6%
27.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
55.8%
55.8%
5.7%
5.7%
16.3%
16.3%
21.6%
21.6%
0.5%
0.5%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.8%
2.8%
11.1%
11.1%
37.2%
37.2%
34.4%
34.4%
12.9%
12.9%
1.6%
1.6%
0% 100.0%
% of Homes