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Cherryfield

Learn about the people, housing, costs and businesses in Cherryfield, Maine

Median Home$205,600
Median Rent$492/month
Population1,048
Leading IndustriesPublic Administration · Construction · Agriculture & Mining30% public administration
Home Value Growth⬆⬆+13.3% over 2 years
Retirees25% of residentsabove average nationally
Homeowners82% of occupied units
NotableVeteran Community10% of residents · top 9% nationally
Cherryfield
ME

Frequently Asked Questions

What are today's mortgage rates in Cherryfield?

As of today, the 30-year fixed mortgage rate for Cherryfield 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 Cherryfield?

The median home value in Cherryfield is $206k. The median monthly rent is $492. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Cherryfield?

Home values in Cherryfield have increased 13.3% 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 Cherryfield?

Based on a typical all-in ownership cost of $702/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $30k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Cherryfield is $65k/year.

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What industries drive the economy in Cherryfield?

The largest employment sectors in Cherryfield are public administration (30%) and retail (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.