Understand the cost of living in Maine including housing, taxes, insurance, and everyday expenses. Compare Maine costs to the national average.
Maine has a cost of living index of 98, where 100 represents the national average. This means living in Maine is 98 percent of the national average cost. The median household income in Maine is $64,800, which should be weighed against local expenses.
Housing is typically the largest expense for Maine residents. The median home price is $320,000, with property taxes averaging 1.24% and home insurance at $1,150 per year. Renters also face costs influenced by the state's overall cost of living index of 98.
Maine residents pay a top income tax rate of 7.15%, a sales tax of 5.5%, and property taxes of 1.24%. These tax rates play a major role in the overall cost of living and your household budget.
Auto insurance in Maine averages $1,200 per year, which is a significant ongoing expense. Combined with fuel, maintenance, and commuting costs, transportation can account for a notable portion of the Maine household budget.
With a cost of living index of 98, Maine ranks among states that are 98 percent of the national average. The median income of $64,800 and median home price of $320,000 provide useful benchmarks for comparison. Use CalcHubb's cost of living calculator to compare Maine with any other state.
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