Market Overview
Home Prices in Hallowell, ME
The median home value in Hallowell, ME is $387,797 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.8% compared to a year ago and up 1.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hallowell are priced5% below average. Hallowell is part of the Augusta-Waterville, ME metro area.
Over the past five years, Hallowell home values have risen by approximately31.4%, reflecting strong long-term appreciation in this market.
Price History
Hallowell Home Price Trend
City Comparison
Hallowell vs. National Median
At $387,797, homes in Hallowell cost 5% below the national median of $410,000. This makes Hallowell a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hallowell?
20% Down Payment
$77,559
on $387,797
Monthly P&I
$2,023/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,569/mo
incl. taxes & insurance
Income Needed
$102,760
gross annual (30% rule)
10% Down Option
$38,780
+ PMI applies
Loan Amount (20% dn)
$310,238
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 Hallowell, ME?
The median home value in Hallowell is $387,797 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.8% year-over-year.
How much have home prices changed in Hallowell?
Over the past year, home values in Hallowell have increased by 0.8%. Over five years, prices have risen approximately 31.4%.
How much do I need to earn to buy a home in Hallowell?
To comfortably afford the median home price of $387,797 with a 20% down payment ($77,559) at today's rates (6.8%), you'd need a gross annual income of approximately $102,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Hallowell compare to the national average home price?
The national median home value is approximately $410,000. At $387,797, homes in Hallowell are 5% below the national average.
What metro area is Hallowell part of?
Hallowell is part of the Augusta-Waterville, ME metropolitan area. Home prices and market conditions can vary across the broader metro region.