When it comes to researching the cheapest places to live in Maine, we have some fresh data for 2024. Using Saturday Night Science, we identified the affordable gems that stand out like a Maine Lobster.
We looked at Maine’s Census data on home prices, incomes, and rents and cross-referenced them with data on the overall cost of living to find the cheapest places to live in Maine. Many of Maine’s most affordable places are also some of their safest.
These affordable places also offer skiing at Bridgton’s Shawnee Peak in the winter or a beach day at Bar Harbor in the summer. Just wait for the Groupons.
Table Of Contents: Top Ten | Methodology | Table | FAQs | Summary
The 10 most affordable places to live in Maine
What is the cheapest place to live in Maine for 2024? The cheapest place to live in Maine is Caribou for 2024 based on our analysis of the Census data for Maine cities.
Want to know more about the most affordable towns in Maine? We suggest you take a ferry from North Haven to Owls Head, grab a lobster roll at Rockland’s Lobster Festival, and read on.
Check out some more reading about Maine and the cheapest places in the country:
The 10 Cheapest Places To Live In Maine For 2024
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Population: 7,454
Overall Cost Of Living Index: 93
Median Income: $47,803
Median Home Price: $156,013
Median Rent: $636
We kick our tour of the most affordable places to live in Maine with Caribou, the most northeastern city in America. In Caribou, you’ll find the first least expensive homes in Maine, at a median price of $156,013. What’s more, residents of Caribou spend the second smallest percentage of their income on homes. If you just want to make sure you can brave the cold and snow before settling down here, rent in Caribou goes for about $636/month.
Thrill-seekers and beer-drinkers alike will find something to love in Caribou, because it’s one of the best places for snowmobiling in Maine as well as the home of Northern Maine Brewing Company. Small heads up for those considering Caribou, though; it’s the most conservative place in Maine.
More on Caribou: Data | Crime | Cost Of Living | Real Estate
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Population: 8,772
Overall Cost Of Living Index: 95
Median Income: $52,109
Median Home Price: $169,472
Median Rent: $812
We’re taking a short drive south from Caribou to arrive at the second cheapest place to call home in Maine, Presque Isle, the commercial center of Aroostook County. Buying a home in Presque Isle will set you back about $169,472, the second lowest price in Maine. As far as home price to income ratio goes, Presque Isle is the best in the state. Presque Isle is home to Arastook State Park, so you’ll never have to go far to get away from it all.
More on Presque Isle: Data | Crime | Cost Of Living | Real Estate
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Population: 15,785
Overall Cost Of Living Index: 99
Median Income: $45,208
Median Home Price: $230,270
Median Rent: $883
Waterville is a city in Kennebec County that offers affordable living to its residents. With a median home value of $230,270 and a median rent of $883, Waterville is a great option for those looking to save money. Additionally, the income to rent ratio is 51.20, which means that residents can comfortably afford their rent while still having money left over for other expenses.
Home to Colby College and Thomas College, the city has a diverse population of 15,785 people and is situated on the west bank of the Kennebec River. With its picturesque location and bustling downtown area, Waterville is a great place to live for people who value convenience and affordability.
More on Waterville: Data | Crime | Cost Of Living | Real Estate
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Population: 5,994
Overall Cost Of Living Index: 100
Median Income: $57,329
Median Home Price: $276,768
Median Rent: $872
Gardiner is popular with tourists, and it’s not hard to see why. This Augusta suburb is known for its old architecture and distinct culture. It doesn’t matter what you’re into — shopping in Gardiner’s historic downtown, catching a show at Johnson Hall, or a fireworks display at Waterfront Park — Gardiner has something for everyone. If you come as a tourist and decide you want to try living in Gardiner for a bit, rent will set you back about $872/month. It probably won’t take you long to fall in love with the city and decide to settle down here permanently. If you do decide to buy, the median home price in Gardiner is $276,768.
More on Gardiner: Data | Crime | Cost Of Living | Real Estate
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Population: 37,577
Overall Cost Of Living Index: 101
Median Income: $54,317
Median Home Price: $280,354
Median Rent: $903
Life in a bustling area does not have to cost a pretty penny and Lewiston is a perfect example of that. The city, which is home to five higher education institutions, including Purdue Global, offers a high quality of life at a reasonable price.
The median household income of $54,317 goes a lot further in Lewiston than it would other places, especially when it comes to housing. There is no sticker shock here. Homes have a median value of only $280,354. Plus, the city’s firm grip on crime means you can settle down in various parts of town without looking over your shoulder or constantly double-checking the lock on your door.
Don’t let the affordability fool you, Lewiston is also rich in history and things to do, like watching a hockey game in the building where the famous Muhammad Ali vs. Sonny Liston fight occurred.
More on Lewiston: Data | Crime | Cost Of Living | Real Estate
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Population: 18,938
Overall Cost Of Living Index: 101
Median Income: $45,006
Median Home Price: $265,601
Median Rent: $865
The state capital is sixth on our list of the most affordable places to live in Maine. While things certainly are not free in Augusta, besides taking in views of the Kennebec River, to penny-pinchers it must feel like everything almost is.
If you happen to be one of the thousands of students at University of Maine at Augusta or someone who is not quite ready to jump into homeownership yet, covering the area’s median rent of $865 is more than feasible, especially when you throw a few roommates into the mix. Plus, for those who earn the city’s median household income of $45,006, the rate should leave enough room for happy hour with the gang.
In fact, Augusta has the third best median rent rate in the state. And when it is time to take the homeownership plunge, the monthly payments of a mortgage associated with the area’s $265,601 median home value should still be manageable.
More on Augusta: Data | Crime | Cost Of Living | Real Estate
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Population: 7,458
Overall Cost Of Living Index: 101
Median Income: $46,343
Median Home Price: $222,579
Median Rent: $920
You’d never believe you were living in one of the states with the most expensive rent in America if you’re lucky enough to call Old Town your home. Not when you’re paying $920/month for an apartment, less than half the average rent in Maine. Old Town also has the third cheapest homes for sale in Maine, and is in the top ten statewide for home price to income ratio.
Old Town is a suburb of Bangor.
More on Old Town: Data | Crime | Cost Of Living | Real Estate
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Population: 31,705
Overall Cost Of Living Index: 103
Median Income: $52,438
Median Home Price: $255,801
Median Rent: $930
Located in the heart of Maine, Bangor is a great place to call home. With a population of 31,705, it offers an affordable cost of living. The median rent in Bangor is only $930 and the median home value is $255,801, making it a solid option for those looking to buy a house.
In addition to its affordability, Bangor has a strong sense of community and plenty of amenities. The city is home to a variety of restaurants, shops, and cultural attractions, including the Bangor Symphony Orchestra and the annual American Folk Festival.
More on Bangor: Data | Crime | Cost Of Living | Real Estate
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Population: 6,986
Overall Cost Of Living Index: 104
Median Income: $52,212
Median Home Price: $331,919
Median Rent: $948
Rockland, a coastal city in Knox County, ranks as the ninth least expensive town in Maine. A manageable 104 overall cost of living index is 1 points lower and 1.0% than the state average. The median home price is $331,919 and the average income is $52,212.
According to the data, Rockland has index values for utilities, services, and transportation. In Rockland, economical elegance meets maritime charm, making every penny spent seem like an investment in seaside serenity.
More on Rockland: Data | Crime | Cost Of Living | Real Estate
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Population: 24,038
Overall Cost Of Living Index: 105
Median Income: $59,659
Median Home Price: $295,326
Median Rent: $926
Located across the Androscoggin River from Lewiston, Auburn comes in as the tenth cheapest place in Maine. Winter sportsmen and women will be happy to have the Lost Valley in their backyard, while everyone can enjoy the Auburn Riverwalk. The median rent in Auburn is $926/month and the median home price is $295,326. For both categories, Auburn is safely in the top ten for housing to income ratios.
More on Auburn: Data | Crime | Cost Of Living | Real Estate
Cheapest places to live in Maine FAQs
The county in Maine with the lowest cost of living is Cumberland County. The average living wage in Cumberland County is $102,589 according to MIT data. Cumberland County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Maine as a whole. Childcare costs $19,660 a year in Cumberland County for two children compared to the Maine average of $16,757. Housing costs, defined as a blend of the average rent and average mortgage payment, are $17,631 per year in Cumberland County compared to $12,883 on average in Maine.
The cost of living in Maine is 4.6% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in Maine is $93,871 vs the national average for a family of four with two working parents of $89,744. The median income of a Maine household is $59,489.
The cheapest housing market in Maine is Caribou. The average home value in Caribou is $93,100, the lowest in the state. The average home value in Maine is $198,000, almost 2.1 times higher than Caribou.
Methodology: How we determined the most affordable places to live in the Pine Tree State for 2024
Determining affordability for places in Maine boils down to how much it costs to live here.
You need to understand your costs relative to what people in the rest of the state are paying.
With that logic in mind, we derived several cost of living statistics from the latest Census American Community Survey 2018-2022 for Maine using Saturday Night Science. We indexed the cost of living statistics across the following categories:
- Housing
- Transportation
- Services
- Groceries
- Healthcare
- Utilities
These are then weighted together to produce an overall cost of living index where 100 is the United States average. Anything below 100 is relatively affordable. Anything over 100 is relatively expensive.
We applied the biggest weight to housing as it typically accounts for 25% or more of your budget. Additionally, housing costs are the highest variant cost across a state. We then compare these cost of living metrics for each place in Maine to figure out which is the least expensive.
The “Cost of Living Index” allows you to rank all of the 19 places in Maine that have more than 5,000 people from least expensive to most expensive. Any ties went to the larger city.
The place in Maine with the lowest cost of living according to the data is Caribou.
We updated this article for 2024. This report reflects our tenth time ranking the cheapest places to live in Maine.
Maine Affordabilility Summary
This is an accurate list of the most affordable places to live in Maine for 2024, if you’re looking at the cost of living numbers in Maine.
The cheapest cities in Maine are Caribou, Presque Isle, Waterville, Gardiner, Lewiston, Augusta, Old Town, Bangor, Rockland, and Auburn.
Here’s a look at the most expensive cities in Maine according to the data:
- Portland
- Saco
- South Portland
For more Maine reading, check out:
Cheapest Places To Live In Maine
| Rank | City | Population | Cost Of Living Index | Median Income | Home Prices | Rent |
|---|---|---|---|---|---|---|
| 1 | Caribou | 7,454 | 93 | $47,803 | $156,013 | $636 |
| 2 | Presque Isle | 8,772 | 95 | $52,109 | $169,472 | $812 |
| 3 | Waterville | 15,785 | 99 | $45,208 | $230,270 | $883 |
| 4 | Gardiner | 5,994 | 100 | $57,329 | $276,768 | $872 |
| 5 | Lewiston | 37,577 | 101 | $54,317 | $280,354 | $903 |
| 6 | Augusta | 18,938 | 101 | $45,006 | $265,601 | $865 |
| 7 | Old Town | 7,458 | 101 | $46,343 | $222,579 | $920 |
| 8 | Bangor | 31,705 | 103 | $52,438 | $255,801 | $930 |
| 9 | Rockland | 6,986 | 104 | $52,212 | $331,919 | $948 |
| 10 | Auburn | 24,038 | 105 | $59,659 | $295,326 | $926 |
| 11 | Bath | 8,775 | 105 | $63,023 | $335,573 | $934 |
| 12 | Brewer | 9,633 | 107 | $55,870 | $268,716 | $970 |
| 13 | Ellsworth | 8,478 | 107 | $61,233 | $338,561 | $885 |
| 14 | Belfast | 6,953 | 109 | $53,925 | $360,086 | $902 |
| 15 | Biddeford | 22,438 | 110 | $63,261 | $454,915 | $1,102 |
| 16 | Westbrook | 20,339 | 112 | $81,198 | $427,855 | $1,302 |
| 17 | South Portland | 26,656 | 113 | $82,489 | $481,844 | $1,607 |
| 18 | Saco | 20,446 | 113 | $81,326 | $473,741 | $1,288 |
| 19 | Portland | 68,280 | 116 | $71,498 | $524,544 | $1,377 |
