In short
The median value of owner-occupied homes in the city of Portland, Maine is $555,100, according to the Census Bureau’s 2024 American Community Survey (margin of error ±$47,628). That is $213,200 above the Maine median of $341,900. MaineHousing’s first-time buyer income limit for the Portland area is $139,100 for 1 to 2 people.
How much homes cost in Portland
The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on Maine home prices explains the method in detail.
| Area | Median value, 2024 (ACS) | Margin of error (90%) |
|---|---|---|
| City of Portland | $555,100 | ±$47,628 |
| Cumberland County | $500,700 | ±$19,186 |
| Portland–South Portland metro area | $474,200 | ±$8,483 |
| Maine | $341,900 | ±$4,987 |
| United States | $360,600 | ±$618 |
Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.
The city figure has a wide margin of error, so the true median is very likely between about $507,500 and $602,700.
Are Portland prices rising?
FHFA’s purchase-only index, published August 25, 2026, covers about 100 large metro areas, and the Portland–South Portland metro area is not one of them. We can only give the statewide trend: Maine prices rose 1.1% between the second quarters of 2025 and 2026 and 47.2% over five years, against 2.1% and 33.4% for the United States. A statewide index does not tell you what Portland did.
Closing costs and taxes
Closing costs, transfer tax and property tax are covered in our state guides, which apply to a Portland purchase:
For how property tax can be paid through your monthly mortgage payment, read our guide to escrow accounts.
Help for Portland buyers
Portland sits in MaineHousing’s Portland HMFA. For the First Home Loan, First Generation and Salute ME programs, MaineHousing lists these limits:
| Limit (Portland HMFA) | Amount |
|---|---|
| Income, 1 to 2 people (effective June 1, 2026) | $139,100 |
| Income, 3 or more people (effective June 1, 2026) | $159,965 |
| Purchase price, 1-unit home | $565,000 |
Source: MaineHousing, Homebuyer Income & Purchase Price Limits. The price table carries the effective date June 1, 2025.
The Portland median value of $555,100 is close to the $565,000 one-unit price ceiling, so a share of Portland homes may be above it. MaineHousing also names Portland among six cities in a private mortgage insurance pilot with Arch MI for one-unit homes and approved condominiums.
The City of Portland’s Housing Development page lists the HOME Program, the Housing Trust Fund, Affordable Housing Tax Increment Financing and city-owned and tax-acquired property as funding tools for affordable housing projects. We could not read the pages behind those headings and found no city down payment program, so contact the city before counting on local help. Programs, rates and amounts are on our page on Maine first-time buyer programs.
Maine guides for Portland buyers
Frequently asked questions
What is the median home price in Portland, Maine?
The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the city of Portland at $555,100 (±$47,628). This is what owners think their home is worth, not the median sale price of recent sales.
How does Portland compare with the rest of Maine?
Portland’s median value is $213,200 above Maine’s ($341,900), $54,400 above Cumberland County’s ($500,700) and $80,900 above the Portland–South Portland metro area’s ($474,200).
Are home prices in Portland going up?
FHFA does not publish a purchase-only index for the Portland–South Portland metro area. For Maine as a whole, the index rose 1.1% from the second quarter of 2025 to the second quarter of 2026 and 47.2% over five years.
What income limit applies to first-time buyers in Portland?
For MaineHousing programs, the Portland HMFA limit effective June 1, 2026 is $139,100 for households of 1 to 2 people and $159,965 for 3 or more.
Does Portland have a city down payment assistance program?
We found none. The city’s Housing Development page lists funding tools for affordable housing projects, but the pages we could open did not describe a buyer program. MaineHousing’s First Home and First Generation options provide $5,000 and $10,000 toward closing.
More Maine guides
- Closing costs in Maine: what buyers and sellers pay
- Maine real estate transfer tax: rate, who pays, exemptions
- How Maine property tax works and what the homestead saves
- Seller disclosure requirements in Maine
- Do you need a real estate attorney to close in Maine?
- Foreclosure process in Maine: steps, timeline and help
- Home prices in Maine and Portland: median value and trend
- First-time home buyer programs in Maine: MaineHousing
- How to verify a real estate license in Maine
Sources
- Table B25077, Median Value (Dollars), ACS 1-Year Estimates 2024 (U.S. Census Bureau) (consulted October 13, 2026)
- 2025 ACS Data Release Schedule (U.S. Census Bureau) (consulted October 13, 2026)
- U.S. House Prices Rise 2.1 Percent Year over Year, Up 0.3 Percent Quarter over Quarter (FHFA, August 25, 2026) (consulted October 13, 2026)
- FHFA House Price Index datasets, quarterly purchase-only indexes (state, metro) (consulted October 13, 2026)
- Homebuyer Income & Purchase Price Limits (MaineHousing) (consulted October 13, 2026)
- First Home Loan Program (MaineHousing) (consulted October 13, 2026)
- Housing Development (City of Portland, Maine) (consulted October 13, 2026)