04658, Milbridge, ME

The home equity and home prices in the 4658 zip code of Milbridge, ME are very high. The median home value in this zip code is $269,000, which is more than triple the median home value in Maine as a whole. Additionally, the percentage of homes in this zip code that are owned outright is much higher than the statewide average of 44%. This suggests that there are a lot of people in this zip code who are able to afford to buy homes outright.

One reason why the home equity and home prices in this zip code are so high is likely because there is a lot of demand for homes here. Milbridge is located on the coast near Portland, which means that it has been growing rapidly over the past few years. This growth has led to an increase in both population and businesses, which has put pressure on housing availability. Additionally, many people who live in Milbridge commute to jobs outside of town, which means that they have more money available to spend on housing.

Despite these high values, it's important to keep in mind that not everyone can afford to buy a home outright. Many people here rent instead, which means that they aren't as impacted by fluctuations in the marketplaces for homes and stocks. Additionally, while Milbridge may be expensive now, it's possible that prices will decline over time if economic conditions change negatively or if new development doesn't meet demand.