Safe Rate Local

Cost of Living in Maine

Is it better to rent or buy in Maine? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

← Back to Maine Hub

Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$80,052
$1,212/mo

Median in area: $1,212

$321,730

Median in area: $321,730

$64,346

If you Rent

🔑
$1,388 /mo
Base Rent$1,212
Est. Utilities$176
% of Income20.8%
Pre-tax Residual$5,283

If you Buy

🏠
$2,229 /mo
P&I (6.842%)$1,685
Taxes & Ins$368
Est. Utilities$176
% of Income33.4%
Pre-tax Residual$4,442

Cost of Living FAQs

Is it cheaper to rent or buy in Maine?›

Based on median housing data, renting is currently more affordable on a monthly basis in Maine. The estimated all-in monthly cost for renting is $1,388, while owning a median-priced home with a 20% down payment is roughly $2,229 per month (a difference of $841).

How much do utilities cost in Maine?›

The average monthly utility cost (electricity and natural gas) for a typical home in Maine is approximately $176. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Maine?›

To comfortably afford the median rent and utilities in Maine without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $55,520 per year.