Why Live in Peaks Island
Peaks Island, a neighborhood in Portland, Maine, offers a tranquil lifestyle with stunning ocean views and a small-town atmosphere. Accessible only by ferry, water taxi, or personal boat, the 740-acre island encourages residents to walk or bike, contributing to its relaxed vibe. Historically a bustling vacation spot, Peaks Island now features peaceful residential areas, particularly the backshore, where majestic houses with traditional Nantucket gray shingle architecture line the rocky waterfront. Other home styles include cottages, Cape Cod, and craftsman, typically situated on small lots with tree-lined streets and sidewalks. Local attractions include Trott Littlejohn Park for hiking and skateboarding, and two public beaches—Sandy Beach and Cairn Beach—ideal for low tide walks and lighthouse views. The Fifth Maine Museum offers a cultural glimpse into the island's history. The small downtown area features coffee shops like Unruly Girls' Peaks Café, restaurants such as Il Leone, and Hannagan's Island Market for groceries. Peaks Island Elementary School, part of Portland's public school district, serves local students, while middle and high school students commute to the mainland. The ferry ride to the mainland takes just 18 minutes.
Frequently Asked Questions
Is Peaks Island a good place to live?
Peaks Island is a good place to live. Peaks Island is considered very car-dependent and somewhat bikeable with minimal transit options. Peaks Island is a suburban neighborhood. Peaks Island has 6 parks for recreational activities. It is sparse in population with 2.2 people per acre and a median age of 58. The average household income is $127,141 which is above the national average. College graduates make up 65.6% of residents. A majority of residents in Peaks Island are home owners, with 20.1% of residents renting and 79.9% of residents owning their home. A
local real estate agent serving Peaks Island can help you decide if this neighborhood is the right one for you. Learn more on our
Peaks Island neighborhood guide.
How much do you need to make to afford a house in Peaks Island?
The median home price in Peaks Island is $589,900. If you put a 20% down payment of $118,000 and had a 30-year fixed mortgage with an interest rate of 6.63%, your estimated principal and interest payment would be $3,020 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $129K a year to afford the median home price in Peaks Island. The average household income in Peaks Island is $127K.
What are the best public schools in Peaks Island?
The best public schools that serve Peaks Island are:
- Casco Bay High School has an A- Niche grade, a student teacher ratio of 14:1 and an average review score of 4.3.
- Peaks Island School has a B Niche grade and a student teacher ratio of 10:1.
- King Middle School has a C Niche grade, a student teacher ratio of 10:1 and an average review score of 1.8.
What are the most popular zip codes in Peaks Island, Portland, ME?
What are the most popular neighborhoods near Peaks Island, Portland, ME?
Are home prices dropping in Peaks Island?
Yes, home prices in Peaks Island are down 7% in the last 12 months.
Home Trends in Peaks Island, ME
On average, homes in Peaks Island, Portland sell after 56 days on the market compared to the national average of 70 days. The median sale price for homes in Peaks Island, Portland over the last 12 months is $379,900, down 20% from the median home sale price over the previous 12 months.
Median Sale Price
$379,900
Median Single Family Sale Price
$578,900
Average Price Per Sq Ft
$238
Number of Homes for Sale
1
Last 12 months Home Sales
21
Median List Price
$589,900
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-20%
