All the best places to live in Maine offer up something unique and special. If you’re looking for a thriving art scene, fine dining and high-end marinas, a city or even a rural area, Maine has you covered. With so many options, your next question isn’t whether or not to move to Maine, but can you afford to live there.
Looking at the cost of living in Maine can help you check average city living against your own budget and see if it’s a perfect match.
Checking prices in these specific areas can help you decide.
Maine housing prices
The largest city in Maine, Portland is one of the state’s most prestigious culinary destinations. The food scene is eclectic and delicious, set in the perfect coastal location. Rocky beaches and lighthouses abound, but there’s nothing sleepy about this northeastern city. Portland has an excellent cultural scene and many consider it a world-class destination. With the cost of living in Maine for housing 26.2 percent above the national average, paying a little extra could be worth it.
Although rent prices for one-bedroom apartments are on the rise, going up 12 percent over last year, two-bedroom rents stayed the same. They’re now only slightly above smaller units at an average of $1,950 per month. The average monthly rent for one-bedroom apartments in Portland is $1,850.
Home prices are also on the rise, although by a smaller amount. Up 7.6 percent over last year, the median home price in Portland is $570,000.
Maine food prices
There are plenty of iconic foods in Maine, but, of course, seafood tops the list. We’re talking lobster, clams and more. But, the one thing you should definitely try when in Maine is a whoopie pie (it’s the state’s official treat.) Adding whoopie pies to your grocery list won’t impact the price too much, especially when the average Maine resident spends at least $333 per month food shopping.
Although that average is on the pricer side, it makes sense. Food prices in Portland, for example, are 5.5 percent above the national average. This can make individual grocery items a bit more costly, so don’t be surprised when:
- Steak costs $16.49
- A dozen eggs cost $1.69
- One banana cost $0.56
- A loaf of bread costs $4.34
- Coffee costs $4.24
Grocery items can definitely add up, but higher-than-average food prices can also impact the cost of going out. A three-course meal, for two, in Portland, has an average cost of $82.50.
Maine utility prices
In Maine, residents don’t really feel the budgetary impact of their utility bills until winter hits. Summers are full of perfect weather conditions, with average temperatures between 60 and 70 degrees Fahrenheit. However, cold, snowy winters and temperatures between 15 and 25 degrees Fahrenheit mean big electricity, natural gas and heating oil bills. That’s a major hit to the cost of living in Maine.
In Portland, average utility prices are 8.6 percent above the national average, and the average energy bill is around $211 each month. That’s definitely on the high side, and most likely dragged up thanks to the long winter months.
Thankfully, other utility bills, like water, are relatively low. The average water bill in Maine is only $24 per month. The average internet bill is also on the low end at only $45 per month.
Maine transportation prices
While the entire state provides transportation options that include buses, trains and even ferries, Maine is the kind of state where owning a car is particularly useful. This is in part because Maine is close to other states in New England. You’re able to day-trip to Vermont, New Hampshire or even Massachusetts.
In Portland, transportation costs are 9.1 percent above the national average. That’s on the more expensive side, but the fact that Portland is both a highly walkable and bike-friendly city can ease some of the costs associated with other forms of transportation. The city has an 80 walk score and a 76 bike score.
The city also offers an extensive public transportation system through the Greater Portland Metro. Local service consists of 10 routes. There are also three South Portland bus routes and the Metro Breez Express, which travels to nearby cities along the coast. The Husky Line connects Portland to two additional cities and two University of Southern Maine campuses.
Local fares are $2 for a one-way ticket, or 90-minute pass and $60 for a monthly fare. Express fares are double this cost.
Maine healthcare prices
Healthcare costs compose a broad category of doctor’s visits, medications, trips to the eye doctor and those two annual dentist appointments. Even unexpected trips to urgent care count. While you can’t really guess how much you’ll end up paying for the cost of living in Maine for healthcare in a single year, it’s good to know where the city you’re thinking of moving to compares with the rest of the country.
Healthcare prices in Portland are 5.6 percent above the national average. This translates to an average visit to the doctor costing about $143, your annual trip to the eye doctor costing around $154 and a dentist visit costing $106. Insurance could lower these prices, but it’s always good to have a baseline average.
Maine goods and services prices
When thinking about goods and services, look at your monthly budget. All the items you want, but don’t need, on that list fall into this category. These are the things that keep you happy, but if you had to cut them out of your budget, for whatever reason, wouldn’t prevent you from functioning. That doesn’t mean they’re not important, just expendable.
Portland’s goods and services, all combined, are 14.4 percent above the national average. That could mean fewer of these bonus items get into your budget should you call Maine home.
The best way to figure this out though is by looking at the individual goods and services you would want to include. A few popular ones in Portland have some surprisingly reasonable average price tags.
- A six-pack of beer: $9.99
- Yoga class: $16
- Movie ticket: $11.90
- Haircut: $31.25
Not all of these prices may seem low to you. It all depends on where you’re coming from, but that doesn’t mean they wouldn’t be affordable should you move.
There are some goods and services expenses, however, that just stay high no matter what. Childcare is one of them, and in Portland, the average monthly cost for a full-day, private preschool is $1,430. This isn’t cheap and could throw off your entire monthly budget when the time comes to factor it in. Knowing about this cost in advance can make a big difference though.
Taxes in Maine
Maine is a very straightforward state when it comes to taxes. There’s a graduated individual income tax, with rates between 5.8 and 7.15 percent.
When it comes to sales tax, Maine has a 5.5 state rate and doesn’t allow localities to add on anything additional. That means for every $1,000 you spend, no matter where you’re shopping in the state, only $55 is going toward taxes. That’s not too bad for the cost of living in Maine.
How much do I need to earn to live in Maine?
Calculating whether or not you can afford to live in Maine starts with rent. To get exact confirmation that rent isn’t outside your budget, use our rent calculator.
To look at some general numbers, you can compare income against average rent information. In Portland, the average two-bedroom apartment $1,950. This is on the high side when compared to other areas of the state, but it’s a good place to start. At this rate, assuming you’ll put 30 percent of your income toward rent (as experts suggest), you’ll need an annual income of more than $77,000.
With the median annual income across Maine at $58,489, certain places in Portland are out of reach. However, there are always options if Maine is your ultimate destination, whether it’s looking at lower-priced neighborhoods near Portland, or even other cities within the state.
Living in Maine
Forests, coastline, cities and country living — Maine has it all. The beauty of this state is truly unique and relaxing, but calling the Pine Tree State homes comes with a financial commitment. With the cost of living in Maine above the national average, you’ll have a shell out a few extra bucks to settle in here. Make sure you can afford it first by looking closely at your own budget. Then, all this northeastern beauty — and fresh seafood — is yours.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of June 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Source: rent.com