South Portland, Portland, Saco: These cities aren’t just some of the best places to live in Maine. They are also home to some of the richest people in the Pine Tree State.
South Portland in particular houses the richest residents in the state thanks, in part, to a median household income of $82,489 and a ridiculously low poverty rate of 5.229842911729515%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Maine share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2018-2022 American Community Survey for the 21 places in Maine with more than 2,000 people.
Table Of Contents: Top Ten | Methodology | Summary | Table
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Maine.
Rich people not your cup of tea? Feel free to check out some more reading about Maine:
The 10 Richest Cities In Maine For 2024
1. South Portland
/10
Population: 26,656
Median Income: $82,489
Median Home Values: $481,844
More on South Portland: Data | Crime | Cost Of Living | Real Estate
2. Portland
/10
Population: 68,280
Median Income: $71,498
Median Home Values: $524,544
More on Portland: Data | Crime | Cost Of Living | Real Estate
3. Saco
/10
Population: 20,446
Median Income: $81,326
Median Home Values: $473,741
More on Saco: Data | Crime | Cost Of Living | Real Estate
4. Westbrook
/10
Population: 20,339
Median Income: $81,198
Median Home Values: $427,855
More on Westbrook: Data | Crime | Cost Of Living | Real Estate
5. Biddeford
/10
Population: 22,438
Median Income: $63,261
Median Home Values: $454,915
More on Biddeford: Data | Crime | Cost Of Living | Real Estate
6. Hallowell
/10
7. Bath
/10
Population: 8,775
Median Income: $63,023
Median Home Values: $335,573
More on Bath: Data | Crime | Cost Of Living | Real Estate
8. Ellsworth
/10
Population: 8,478
Median Income: $61,233
Median Home Values: $338,561
More on Ellsworth: Data | Crime | Cost Of Living | Real Estate
9. Belfast
/10
Population: 6,953
Median Income: $53,925
Median Home Values: $360,086
More on Belfast: Data | Crime | Cost Of Living | Real Estate
10. Auburn
/10
Population: 24,038
Median Income: $59,659
Median Home Values: $295,326
More on Auburn: Data | Crime | Cost Of Living | Real Estate
Methodology: How We Determined The Richest Places In Maine For 2024
The first thing that comes to most people’s minds when they think about determining the richest places is simply identifying personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places.” So we looked at this set of criteria from the newly released 2018-2022 American Community Survey and applied Saturday Night Science:
- Median Home Values
- Median Household Income
Median household income is the most digestible way to understand how rich a place is. And home values are a measure of wealth. The two combine to define a “Rich City.”
After we collected the data for all 21 places with more than 2,000 people in Maine, we ranked each place from 1 to 21 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score,” with the place having the lowest overall Rich Score, South Portland, crowned the “Richest City In Maine For 2024.”
The data has been updated for 2024. This is our tenth time ranking the wealthiest cities in Maine.
You can skip to the end to see the rankings for all 21 places.
Summary: The Wealthiest Places In Maine For 2024
Like we said earlier, when we set out to identify the richest places in Maine, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Maine.
The richest cities in Maine are South Portland, Portland, Saco, Westbrook, Biddeford, Hallowell, Bath, Ellsworth, Belfast, and Auburn.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Maine, according to data:
Poorest: Calais
2nd Poorest: Waterville
3rd Poorest: Caribou
For more Maine reading, check out:
Detailed List Of The Richest Cities In Maine
| Rank | City | RichScore | Median Income | Average Home Price |
|---|---|---|---|---|
| 1 | South Portland | 1.5 | $82,489 | $481,844 |
| 2 | Portland | 2.5 | $71,498 | $524,544 |
| 3 | Saco | 2.5 | $81,326 | $473,741 |
| 4 | Westbrook | 4.0 | $81,198 | $427,855 |
| 5 | Biddeford | 4.5 | $63,261 | $454,915 |
| 6 | Hallowell | 7.0 | $62,990 | $341,802 |
| 7 | Bath | 7.5 | $63,023 | $335,573 |
| 8 | Ellsworth | 8.0 | $61,233 | $338,561 |
| 9 | Belfast | 9.5 | $53,925 | $360,086 |
| 10 | Auburn | 10.0 | $59,659 | $295,326 |
| 11 | Gardiner | 11.5 | $57,329 | $276,768 |
| 12 | Lewiston | 12.0 | $54,317 | $280,354 |
| 13 | Rockland | 12.5 | $52,212 | $331,919 |
| 14 | Brewer | 12.5 | $55,870 | $268,716 |
| 15 | Bangor | 15.0 | $52,438 | $255,801 |
| 16 | Presque Isle | 17.5 | $52,109 | $169,472 |
| 17 | Augusta | 18.0 | $45,006 | $265,601 |
| 18 | Old Town | 18.0 | $46,343 | $222,579 |
| 19 | Caribou | 18.5 | $47,803 | $156,013 |
| 20 | Waterville | 18.5 | $45,208 | $230,270 |
| 21 | Calais | 20.0 | $45,250 | $147,593 |
