The story of this market
The typical home in ZIP 04240 sells for about $364,900, or $214 per square foot.
Homes take about 46 days to sell. HUD's fair market rent for a two-bedroom is $986 a month.
ZIP 04240 — Lewiston
The 04240 housing market is currently balanced with a median listing price of $364,900. While the market shows steady rental demand, it is characterized by a need for careful management by investors. Market indicators suggest a stable but competitive environment for local buyers.
This ZIP is suited for local buyers and disciplined investors who are familiar with the specific operational requirements of the Lewiston market.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 46 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 20.0% — a stable, low-distress profile.
ZCTA 04240, Androscoggin County, ME
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Maine) — Maine Resident Homestead Property Tax Exemption: Provides a reduction in the valuation of the homestead for property tax purposes. The exemption amount is set by state statute (currently $25,000 of the just value of the property). The formula is: (Just Value - Homestead Exemption) * Local Tax Rate = Tax Due.
The rental market in 04240 shows steady demand with a median rent of $1,600 per month, though investors are cautioned that the area requires a disciplined operating hand.
The local economy is anchored by the Lewiston Housing Authority and a mix of regional services, with a median household income of $55,393.
Data sourced from incomebyzipcode.com and Realtor.com market reports.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.