Mortgage payment estimates, closing cost breakdowns, and homebuying data for South Portland, Maine.
Pre-filled with South Portland median home price and Maine tax/insurance rates. Adjust for your property.
Estimated closing costs based on Maine rates and fees applied to South Portland prices.
The median home price in South Portland is $425,000, 21% above the Maine state median of $350,000. With a population of 25,665, South Portland is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Maine average 1.3% annually. This moderate property tax rate means a $425,000 home in South Portland would carry roughly $460/month in property taxes. Homeowners insurance in Maine runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in South Portland is $1,720/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
South Portland is a higher-cost market. At $425K median, buyers need significant savings or strong income. Down payment assistance through Maine's MaineHousing First Home program becomes especially important.