In recent years, Peaks has had two failed secession attempts first in 2006-2007 and again in 2010-2011. The Portland City Council, with urging from the state and Local Government Committee, established a seven-person Peaks Island Council to advise the City Council on matters affecting Peaks. The initial PIC was formally elected by registered Peaks Island voters in the fall of 2007.
There are scattered homes along the interior and the backshore of the island but, for the most part, these areas remain heavily forested, with much of this area as either city or state park land, or owned by the Peaks Island Land Preserve, including Battery Steele, the largest of the World War II military reservations.
- Year-Round Population, 2010 U.S. Census: 864
- Summer Population Estimate: 2,000 – 4,000 (with many day trippers)
- Acres: 762
- Mainland Ferry Terminal: Portland
- Estimated Distance between mainland and island ferry docks: 2.5 miles
- Ferry Service: Casco Bay Lines
- School: K-5 on island, commute to Portland for 6-12
- Form of Town Government: Part of the City of Portland