How much is a home worth in ZIP code 04240?

The typical home in 04240 is worth $296,236, based on the Zillow Home Value Index.

Are home values rising in 04240?

Home values in 04240 are up 2.1% over the past year, and up 8.9% a year over five years.

What is the typical rent in 04240?

A typical home in 04240 rents for about $1,479 a month, a gross rental yield of 6.0%.

What is the property tax rate in 04240?

The effective property tax rate in 04240 is 1.2% — roughly $3,668 a year on a typical home.

ZIP code 04240 has a population of 38,324 and a median household income of $55,393.

HousingHandbookReference data

…

U.S. ZIP Code · ME04240

Androscoggin County · Lewiston-Auburn, ME

Typical home value

$296,236^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.1%
5-year / yr: +8.9%
10-year / yr: +9.8%

Relative price

vs U.S.: +4.3%
vs metro: -13.0%
vs state: -12.4%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 04240 is worth $296,236 — 13.0% below the Lewiston-Auburn, ME median. Over the past year, values have risen 2.1%. Homes here rent for a typical $1,479 a month — a 6.0% gross rental yield. The effective property tax rate is 1.2%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,479^[2]
Gross yield: 6.0%^[2]
Cap rate: 3.6%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.2%^[3]
Typical annual tax: $3,668^[3]

#Climate risk

FEMA National Risk Index ratings for Androscoggin County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Low
Coastal flood: No Rating
Wildfire: Very Low
Drought: Relatively Moderate
Heat wave: Very Low
Hurricane: Relatively Moderate
Tornado: Very Low
Earthquake: Relatively Low
Winter weather: Very High

#Who lives here

Population: 38,324^[3]
Median household income: $55,393^[3]

#Migration

Household moves in and out of Androscoggin County over a year, from IRS tax-return data.

Net migration: +305^[5]
Moved in: 3,158
Moved out: 2,853

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 9
Elementary: 6
Middle: 1
High: 1

Lewiston High School
High · Grades 9–12 · Lewiston Public Schools
1,645 students
Robert V. Connors Elementary School
Elementary · Grades PK–6 · Lewiston Public Schools
739 students
Lewiston Middle School
Middle · Grades 7–8 · Lewiston Public Schools
716 students
Montello School
Elementary · Grades PK–6 · Lewiston Public Schools
628 students
Raymond A. Geiger Elementary School
Elementary · Grades PK–6 · Lewiston Public Schools
524 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.0%

Net yield (after ~40% expenses)3.6%

Annual rent$17,745

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,498

Loan principal$236,988

Down payment$59,247

Total interest paid$302,266

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.39

Monthly cost to own$2,051

Monthly rent$1,479

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 92nd percentile^[1]
Rental yield: 100th percentile^[2]
Property tax: 69th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 04240?: The typical home in 04240 is worth $296,236, based on the Zillow Home Value Index.
Are home values rising in 04240?: Home values in 04240 are up 2.1% over the past year, and up 8.9% a year over five years.
What is the typical rent in 04240?: A typical home in 04240 rents for about $1,479 a month, a gross rental yield of 6.0%.
What is the property tax rate in 04240?: The effective property tax rate in 04240 is 1.2% — roughly $3,668 a year on a typical home.
Who lives in 04240?: ZIP code 04240 has a population of 38,324 and a median household income of $55,393.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

04253 vs 04240 →
ME
Typical home
$293,503
Gross yield
—
04256 vs 04240 →
Mechanic Falls CDP, ME
Typical home
$303,202
Gross yield
—
04210
Auburn, ME
Typical home
$323,386
Gross yield
5.7%
04252
Lisbon Falls CDP, ME
Typical home
$331,842
Gross yield
—
04250
Lisbon CDP, ME
Typical home
$338,381
Gross yield
—
04236
Greene CDP, ME
Typical home
$342,308
Gross yield
—

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#Jump to section

U.S. ZIP Code · ME04240

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