04473, Orono, ME

Home Equity and Home Prices in the 4473 Zip Code of Orono, ME

The 4473 zip code of Orono, ME is located in the eastern part of the state and has a population of about 21,000. The median home value in this zip code is $191,900 which is significantly higher than the statewide median home value of $146,600. In addition, the percentage of homes that are owner-occupied is significantly higher than the statewide percentage of owner-occupied homes at 66%. This indicates that there are more homeowners in this zip code than there are renters.

One factor that may contribute to the high home values in this zip code are the high levels of education attainment. Nearly two-thirds (64%)of residents in this zip code have a college degree or higher which is significantly higher than Maine’s average percentage of residents with a college degree or higher at 37%. This indicates that there are a lot of affluent households living in this area. Another potential factor contributing to high home values in this zip code is its low unemployment rate. The unemployment rate for Orono was 2% as of September 2017 which is lower than Maine’s average unemployment rate of 3%. These factors may lead some people to believe that prices will continue to increase in this area over time.