Finding the most affordable places to live in Maine is challenging even if you're a native. State-wide, Maine has a median home value of $297,500. When you add in maintenance costs and property taxes, it can be difficult for many to buy and own a home. Because of that, we scoured the data to find the most affordable cities in Maine, looking at median home prices, cost of living, and other factors to find your best options.
Looking for the most affordable places in Maine is a start, but you'll save even more money by working with a great agent. The top Maine real estate agents know the local market and where to find pockets of more affordable homes. They can also help negotiate a better price when you do find your dream home.
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Ready to learn more about the most affordable places in Maine? These are our top picks.
1. Caribou
Caribou, Maine has a population of 7,827 according to Niche. Its median home value at $89,400, with a price-to-income ratio of 2.2 making Caribou the most affordable city in Maine.
Not only is it affordable, it’s beautiful, too. The neighbors are friendly and helpful, there are plenty of activities for outdoor lovers, and the job market and cost of living are both desirable. It’s a quiet, rural small town that’s perfect for those who like that kind of environment.
2. Gardiner
Gardiner, Maine is home to 5,672 and the median home value in the area is $137,400. The median income is $47,475, and with a price-to-income ratio of 2.9 and an income-to-rent ratio of 70.6, Gardiner is right up there with Caribou where affordability is concerned.
Like Caribou, Gardiner is a small town that’s full of natural, outdoors areas. It’s also incredibly safe and great for families. There’s also a historic element to the town that many find charming and interesting.
Finding a home to buy here is easier with a local agent! With Clever, you'll find a great Maine realtor who can help with your home search.
3. Brewer
About 9,167 people call Brewer, Maine home. It’s a bit larger than some of the other towns on this list, but it still has that small town feel. The median home value here is $159,900, and the median household income is $56,354. That gives Brewer a price-to-income ratio of 2.8 and an income-to-rent ratio of 65.3.
For most Brewer residents, the park, grocery store, and other essential locations are within walking distance of home. It’s a nice, safe area that’s good for families and has excellent schools. Like most of the other towns on this list, Brewer is small, friendly, and generally a wonderful place to live.
4. Presque Isle
With a population of 9,246, Presque Isle is another “big little town”. The median home value here is $108,700 with a median household income of $37,036. The price-to-income ratio is 2.9 and the income-to-rent ratio is 56.5, which makes Presque Isle another affordable location in Maine.
Presque Isle is attractive to many businesses, which means commerce and the job market usually thrive in this city. There are great schools and newly renovated and upgraded hospitals, and the University of Maine at Presque Isle is located here. There are many trails, walking paths, and opportunities for outdoor adventure and relaxation, as well.
5. Auburn
Auburn, Maine is the largest town on the list with a population of 22,941. While this city is larger, many residents will tell you that it still has a small town feel in that everyone is friendly and neighbors genuinely look after each other. The median home value in this city is $152,400 and the median household income is $48,363, giving Auburn a price-to-income ratio of 3.2 and an income-to-rent ratio of 64.8.
This beautiful town is close enough to the larger cities to help you avoid feeling isolated but is far enough away to help you avoid the busy and chaotic vibe that many large cities can give off. As per the usual in Maine, there are lots of hiking trails and outdoor areas for you to enjoy. This is another area that’s great for families and has a promising job market, as well.
How to find affordable homes in Maine
Whether you want to live in a bustling Maine metro area or a tranquil small town, there's plenty to love in Maine. Working with a local real estate agent is the best way to find the most affordable places to live in Maine.
Ready to start house hunting? Clever is a free service that can match you with the best realtors in Maine. And, when you buy with a Clever partner agent, you could get 0.5% of your purchase price back as a check after closing. On a $300,000 home, that's an extra $1,500 back in your pocket. That's real money!