Market Overview
Home Prices in Chebeague Island, ME
The median home value in Chebeague Island, ME is $666,975 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.8% compared to a year ago and up 2.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Chebeague Island are priced63% above average. Chebeague Island is part of the Portland-South Portland, ME metro area.
Over the past five years, Chebeague Island home values have risen by approximately26.9%, reflecting strong long-term appreciation in this market.
Price History
Chebeague Island Home Price Trend
City Comparison
Chebeague Island vs. National Median
At $666,975, homes in Chebeague Island cost 63% above the national median of $410,000. Buyers in Chebeague Island should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Chebeague Island?
20% Down Payment
$133,395
on $666,975
Monthly P&I
$3,479/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,418/mo
incl. taxes & insurance
Income Needed
$176,720
gross annual (30% rule)
10% Down Option
$66,698
+ PMI applies
Loan Amount (20% dn)
$533,580
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 Chebeague Island, ME?
The median home value in Chebeague Island is $666,975 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.8% year-over-year.
How much have home prices changed in Chebeague Island?
Over the past year, home values in Chebeague Island have decreased by 1.8%. Over five years, prices have risen approximately 26.9%.
How much do I need to earn to buy a home in Chebeague Island?
To comfortably afford the median home price of $666,975 with a 20% down payment ($133,395) at today's rates (6.8%), you'd need a gross annual income of approximately $176,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Chebeague Island compare to the national average home price?
The national median home value is approximately $410,000. At $666,975, homes in Chebeague Island are 63% above the national average.
What metro area is Chebeague Island part of?
Chebeague Island is part of the Portland-South Portland, ME metropolitan area. Home prices and market conditions can vary across the broader metro region.