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Chebeague Island

Learn about the people, housing, costs and businesses in Chebeague Island, Maine

Median Home$645,900
Median Rent$1,951/month
Population434
Leading IndustriesHealthcare · Arts, Food & Hospitality · Public Administration21% healthcare
Home Value Growth⬆⬆⬆+21.6% over 2 years
Retirees26% of residentswell above average
Homeowners85% of occupied units
NotableHigh Incomes$171k/year · top 1% nationally
NotableHighly Educated36% bachelor's · 22% graduate · top 1% nationally
Chebeague Island
ME

Frequently Asked Questions

What are today's mortgage rates in Chebeague Island?

As of today, the 30-year fixed mortgage rate for Chebeague Island is approximately 6.971% (7.010% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Chebeague Island?

The median home value in Chebeague Island is $646k. The median monthly rent is $1,951. Annual property taxes average $7k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Chebeague Island?

Home values in Chebeague Island have increased 21.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Chebeague Island?

Based on a typical all-in ownership cost of $2,276/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $98k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Chebeague Island is $171k/year.

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What industries drive the economy in Chebeague Island?

The largest employment sectors in Chebeague Island are public administration (32%) and healthcare (21%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.