Coastal Neighborhood Named the ‘Priciest’ Zip Code in Maine
If you've spent any time on places like Craigslist or Facebook Marketplace searching for available apartments in southern Maine, you know just how high some of the prices have gotten.
As many coastal towns and cities in Maine have become beacons for tourism, the price to own or rent real estate has climbed into an uncomfortable place for many that call Maine home.
But if you think the prices for homes in Portland are ridiculous, there's another zip code in Maine that will make you turn your head. That zip is 04110, and it belongs to the coastal neighborhood known as Cumberland Foreside.
According to MaineBiz, Cumberland Foreside has done something that no other Maine town, city, or neighborhood can claim. It's officially cracked the top 50 priciest zip codes in all of New England at #38.
Thanks to 2023 real estate data, the median price for a home in Cumberland Foreside is $1.23 million dollars. Just three years ago, the median price for a home in Cumberland Foreside was $768,000. The prices have soared making the neighborhood Maine's most elite.
It shouldn't come as a huge surprise. According to Travel A Lot, Maine's wealthiest city is Cumberland. Specifically, Cumberland Foreside. Cumberland Foreside is the coastal area of the city of Cumberland, and its average median household income is rather eye-popping.
The average median household income throughout Maine is around $58,000. For Cumberland Foreside, you can essentially multiply that number by three. The average media household income in Maine's wealthiest city is a little over $157,000 per year.
According to Zillow, there are a handful of homes for sale in Cumberland Foreside right now. They range in price from a $459,000 condo to a sprawling $4.6 million dollar estate.
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