Home Insurance in South Portland, Maine
With a median home value of $441,200, South Portland is close to the Cumberland County median.
The typical home in South Portland was built around 1968. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 45% of homes were built before 1960, about 10 points above Cumberland County's 35%.
In South Portland, the housing stock is 59% single-family homes and 26% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 67% of owner-occupied homes in South Portland have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 58% of occupied homes in South Portland are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In South Portland, 38% of homes are primarily heated with fuel oil.
What's the biggest home insurance risk near South Portland? FEMA's National Risk Index points to winter weather (Very High) in Cumberland County and Cumberland County had 1,551 active NFIP flood policies as of September 2026. See the full Cumberland County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Maine carries a statewide average premium of $1,150 per year.
Key figures
| Median home value | $441,200 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 67% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Cumberland County | 1,551 |
| Home insurance premium | $1,150 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)