Market Overview
Home Prices in Penobscot, ME
The median home value in Penobscot, ME is $354,383 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.5% compared to a year ago and up 0.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Penobscot are priced14% below average.
Over the past five years, Penobscot home values have risen by approximately16.0%, reflecting steady appreciation in this market.
Price History
Penobscot Home Price Trend
2021
$305,584
$306K
—
2022
$348,456
$348K
+14.0%
2023
$354,301
$354K
+1.7%
2024
$357,763
$358K
+1.0%
2025
$359,679
$360K
+0.5%
2026
$354,383
$354K
-1.5%
City Comparison
Penobscot vs. National Median
🏠 Penobscot
$354,383
National Median
$410,000
At $354,383, homes in Penobscot cost 14% below the national median of $410,000. This makes Penobscot a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Penobscot?
20% Down Payment
$70,877
on $354,383
Monthly P&I
$1,848/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,347/mo
incl. taxes & insurance
Income Needed
$93,880
gross annual (30% rule)
10% Down Option
$35,438
+ PMI applies
Loan Amount (20% dn)
$283,506
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 Penobscot, ME?
The median home value in Penobscot is $354,383 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.5% year-over-year.
How much have home prices changed in Penobscot?
Over the past year, home values in Penobscot have decreased by 1.5%. Over five years, prices have risen approximately 16.0%.
How much do I need to earn to buy a home in Penobscot?
To comfortably afford the median home price of $354,383 with a 20% down payment ($70,877) at today's rates (6.8%), you'd need a gross annual income of approximately $93,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Penobscot compare to the national average home price?
The national median home value is approximately $410,000. At $354,383, homes in Penobscot are 14% below the national average.