Market Overview
Home Prices in Cape Elizabeth, ME
The median home value in Cape Elizabeth, ME is $911,314 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.1% compared to a year ago and up 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cape Elizabeth are priced122% above average. Cape Elizabeth is part of the Portland-South Portland, ME metro area.
Over the past five years, Cape Elizabeth home values have risen by approximately15.6%, reflecting steady appreciation in this market.
Price History
Cape Elizabeth Home Price Trend
City Comparison
Cape Elizabeth vs. National Median
At $911,314, homes in Cape Elizabeth cost 122% above the national median of $410,000. Buyers in Cape Elizabeth should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Cape Elizabeth?
20% Down Payment
$182,263
on $911,314
Monthly P&I
$4,753/mo
30-yr @ 6.8%
Total Monthly Est.
~$6,036/mo
incl. taxes & insurance
Income Needed
$241,440
gross annual (30% rule)
10% Down Option
$91,131
+ PMI applies
Loan Amount (20% dn)
$729,051
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cape Elizabeth, ME?
The median home value in Cape Elizabeth is $911,314 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.1% year-over-year.
How much have home prices changed in Cape Elizabeth?
Over the past year, home values in Cape Elizabeth have increased by 2.1%. Over five years, prices have risen approximately 15.6%.
How much do I need to earn to buy a home in Cape Elizabeth?
To comfortably afford the median home price of $911,314 with a 20% down payment ($182,263) at today's rates (6.8%), you'd need a gross annual income of approximately $241,440. This assumes keeping total housing costs at or below 30% of gross income.
How does Cape Elizabeth compare to the national average home price?
The national median home value is approximately $410,000. At $911,314, homes in Cape Elizabeth are 122% above the national average.
What metro area is Cape Elizabeth part of?
Cape Elizabeth is part of the Portland-South Portland, ME metropolitan area. Home prices and market conditions can vary across the broader metro region.