Housing costs in Maine?
A typical home costs
$334,000, which is 1.2% less expensive than the national average of
$338,100 and 0.0% less expensive than the average Maine home, at
$334,000. Renting a two-bedroom unit in Maine costs
$1,250 per month, which is 12.6% cheaper than the national average of
$1,430 and close to the state average of
$1,250.
Can I afford Maine?
To live comfortably in Maine, a minimum annual income of
$64,080 for a family, and
$39,200 for a single person is recommended.
What does A.I. say about Maine?
Maine State has a high cost of living, with the median home price in 2019 reaching $222,700. This is an increase from 2018’s median of $204,800, making Maine one of the most expensive states for housing. Other costs such as groceries and transportation can also add up quickly. Groceries are on average 5% more expensive than the rest of the nation and gasoline prices are usually higher than neighboring states. In addition, sales tax is relatively high at 5.5%, while property taxes can also be quite costly depending on where you live in Maine State. All these factors make it difficult for many people to afford living in Maine State.