Best Affordable Places to Live in Maine in 2025
(Last Updated – 02/2025)
Maine is known as Vacationland for good reason. Between its beaches, scenic coastline, idyllic lakes, and expansive forests, there’s no shortage of outdoor activities in Maine. Plus, there are a wealth of charming New England towns to explore, as well as cultural activities.
The cost of living in Maine is the lowest in New England, making it a comparatively affordable place to buy a home. Maine’s small towns and cities vary by cost, amenities, and suitability for different phases of life.
Here’s a look at the best places to live in Maine.
Best Places to Live in Maine
Maine offers plenty of choice in places to live, including lively small cities, charming coastal towns, and rural enclaves. Whether you’re a first-time homebuyer, recent graduate, growing family, or retiree, Maine has options.
Whether you’re a first-time homebuyer, recent graduate, growing family, or retiree, Maine has options.
Best Affordable Places to Live in Maine
The cost of living in Maine can be quite reasonable. Here are three of the best affordable places to live in Maine and enjoy all that it offers.
1. Caribou
Photo credit: iStock/DenisTangneyJr
Situated near the Canadian border, Caribou ranks among the best affordable places to live in Maine. The northeastern Maine city is known for outdoor recreation and agriculture. If you decide it’s the right spot for you, you may want to research how to qualify for a mortgage as you prepare to settle there.
Population: 7,431
Median Household Income: $54,271
Cost of Living: 75.1% of U.S. average
Average Rent Price: $900
Home Price-to-Income Ratio: 2.66
2. Presque Isle
Photo credit: iStock/DenisTangneyJr
Presque Isle is one of the best places in Maine to live for affordable housing. Set due east of the North Maine Woods, Presque Isle is known for its year-round outdoor recreation opportunities.
Population: 8,677
Median Household Income: $57,396
Cost of Living: 75.1% of U.S. average
Average Rent Price: $1,050
Home Price-to-Income Ratio: 2.77
3. Auburn
Photo credit: iStock/DenisTangneyJr
Auburn is located a half-hour north of Portland on the Androscoggin River. It has a walkable downtown, is home to multiple employers, and is Maine’s fifth most populous city. This combination of job opportunities, natural beauty, and amenities help make it one of the most affordable places to live in Maine. If you’re thinking about bidding on a reasonably priced home in Auburn, you might want to prep by getting preapproved for a home loan.
Population: 24,193
Median Household Income: $55,402
Cost of Living: $66,552
Average Rent Price: $1,400
Home Price-to-Income Ratio: 4.66
💡 Quick Tip: A home equity line of credit from SoFi and Spring EQ gives you the flexibility to spend what you need when you need it — you only pay interest on the amount that you spend. And the interest rate is lower than most credit cards.
Best Places to Live in Maine for Families
If you are raising a family or planning on starting one, Maine can be a welcoming location. Here are some options for the best affordable places in Maine for families.
1. Windham
Photo credit: iStock/pmstephens
Situated between Portland and the Lakes Region, Windham offers country living in fairly close proximity of employers, amenities, and outdoor activities. Parents will give an A+ to its school system, which ranks above average in the state. If you are starting to shop for a home, it can be wise to acquaint yourself with how mortgage prequalification vs. preapproval compare.
Population: 19,658
Median Household Income: $98,373
Cost of Living: 112.5% of U.S. average
Average Rent Price: $2300
Home Price-to-Income Ratio: 3.1
2. Gorham
Photo credit: iStock/Rafsun Mashraky
West of Portland, Gorham is home to University of Southern Maine and features a walkable town center with restaurants and shops. Gorham is less than 30 minutes by car from Portland. The combination of being a college town and close to Portland can make it a wonderful setting to raise a family.
Population: 7,365
Median Household Income: $125,058
Cost of Living: 112.5% of U.S. average
Average Rent Price: $1,968
Home Price-to-Income Ratio: 4.11
3. Falmouth
Photo credit: iStock/Christopher Wiley
Falmouth can be one of the best places to live in Maine for families, who will appreciate that the Portland suburb has one of the state’s top-ranking school systems and offers a range of year-round recreational opportunities for families, including boating, skating, and golf.
Population: 12,868
Median Household Income: $137,991
Cost of Living: 112.5% of U.S. average
Average Rent Price: $3,500
Home Price-to-Income Ratio: 6.1
💡Quick Tip: Mortgage loans are available with flexible term options and down payments as low as 3%.*
Best Places to Live in Maine for Young Adults
If you are a young adult starting your career, you likely want to settle in a place with a good job market, an affordable cost of living vs. other states, and plenty of activities and entertainment options. Here are the best affordable places to live in Maine for young adults.
1. Gardiner
Photo credit: Wikimedia Commons/Terry Ross , Creative Commons Attribution-ShareAlike 2.0 Generic
Located on the west bank of the Kennebunk River, Gardiner is a historic community and one of the best places to live in Maine to stretch your housing budget further. About 14% of residents are ages 20 to 29. Gardiner is within commuting distance of Augusta, Maine’s capital, as well as less than an hour’s drive from Portland.
Population: 6,159
Median Household Income: $58,152
Cost of Living: 88.6% of U.S. average
Average Rent Price: $1,195
Home Price-to-Income Ratio: 4.74
2. Waterville
Photo credit: iStock/DenisTangneyJr
Waterville is a college town offering cultural amenities and recreation opportunities. It’s home to both Colby and Thomas Colleges, and it’s sited on the banks of the Kennebec River. About 18% of the population is between ages 20 and 29.
Population: 16,823
Median Household Income: $47,489
Cost of Living: 98% of U.S. average
Average Rent Price: $1,300
Home Price-to-Income Ratio: 4.89
3. Orono
Photo credit: iStock/DenisTangneyJr
Orono is one of the best places to live in Maine for young adults. A whopping 38% of the population is between ages 20 and 29. Home to the University of Maine, Orono has museums, hockey games and other sport events, restaurants, and nearby trails and parks for year-round entertainment. Looking into first-time homebuyer programs in Maine might be a wise move if you want to rein in your housing costs when moving to Orono.
Population: 10,699
Median Household Income: $56,890
Cost of Living: 100% of U.S. average
Average Rent Price: $1,750
Home Price-to-Income Ratio: 5.1
Best Places to Live in Maine for Retirees
There are lots of reasons to love relaxing in this state, which means there are plenty of best places to live in Maine for retirees. Consider these three favorites.
1. Waterville
Photo credit: iStock/DenisTangneyJr
Waterville, making another appearance on this list, is also a popular place to live for retirees. Around 17.4% of the population is aged 65 or over. Home to two colleges — Colby College and Thomas College — the midsize city has a lively arts and cultural scene, including museums, the Maine Film Center, and the Waterville Opera House.
Population: 16,823
Median Household Income: $47,489
Cost of Living: 98% of U.S. average
Average Rent Price: $1,300
Home Price-to-Income Ratio: 4.89
2. Lewiston
Photo credit: iStock/DenisTangneyJr
Lewiston is Maine’s second largest city and retirees will find it attractive because of its blend of cultural and outdoor attractions. Around 18.2% of the population is aged 65 or over. Lewiston is located around halfway between Portland and Augusta.
Population: 38,404
Median Household Income: $56,558
Cost of Living: 103% of U.S. average
Average Rent Price: $1,450
Home Price-to-Income Ratio: 5.0
3. Augusta
Photo credit: iStock/Ultima_Gaina
Maine’s capital, Augusta, is another retiree-friendly community. Roughly 23% of the population is aged 65 or over. Augusta’s downtown is filled with restaurants, shops, and breweries, while the surrounding area is great for outdoor recreation.
Population: 19,102
Median Household Income: $48,756
Cost of LivingL 89% of U.S. average
Average Rent Price: $1,450
Home Price-to-Income Ratio: 5.4
Best Places to Live in Maine Near the Beach
Love the water? Then you will likely enjoy living in Maine, with its lakes, rivers, and coastline. Home prices have skyrocketed over the last several years, but the cost of living is still reasonable. Here are five of the best places to live in Maine near the beach.
1. Rockland
Photo credit: iStock/GrandviewGraphics
Rockland is located in the heart of midcoast Maine, where lobster fishing is still big business. The area boasts the Farnsworth Art Museum, fine dining, and a beautiful rocky coastline with the occasional sandy beach. If you long for both a tight-knit community and a spirit of adventure, Rockland might be just the place for you.
If you are thinking of financing a home in Rockland, you might benefit from spending some time on a home loan help center site to learn some smart strategies for getting the right mortgage for you.
Population: 7,031
Median Household Income: $55,276
Cost of Living: 99% of U.S. average
Average Rent Price: $1,600
Home Price-to-Income Ratio: 6.1
2. York
Photo credit: iStock/DenisTangneyJr
Situated in southern Maine, York is an affordable place to live near the water. It’s a coastal community with multiple sandy beaches. The historic town is also a popular destination for golfers, whale watching, and kayaking. York is located less than 10 miles from the New Hampshire border and within a one-hour drive of the metro Boston area.
With a median home value of $704,703, homebuyers may have a better chance of qualifying for different types of mortgage loans here, compared to pricier Ogunquit.
Population: 14,118
Median Household Income: $112,982
Cost of Living: 109.9% of U.S. average
Average Rent Price: $2,250
Home Price-to-Income Ratio: 6.2
3. Kennebunkport
Photo credit: iStock/mike innella
Kennebunk is a southern Maine town to the west of (pricier) Kennebunkport. Kennebunk is known for its sandy beaches, outdoor recreation, and charming downtown straddling the Mousam River. A jumbo mortgage loan may be required for some of the homes in Kennebunk.
Population: 6,008
Median Household Income: $93,167
Cost of Living: 114% of U.S. average
Average Rent Price: $2,800
Home Price-to-Income Ratio: 6.3
Recommended: How to Apply for a Home Mortgage Refinance
The Takeaway
Whether you’re after affordable housing, a place to retire, or proximity to the beach, there’s something for everyone in Maine. The cost of living by state varies, with Maine ranking as the most affordable place to live in New England.
Would-be Mainers looking to make the move to Vacationland should know that if you haven’t owned a home in the past three years, you could qualify for first-time homebuyer programs in Maine.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
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FAQ
Where is the best place to live in Maine year round?
The best place to live in Maine depends on your preferences. A number of communities, like Portland, Lewiston, Waterville, and others, offer year-round recreation and entertainment.
Where are the cheapest homes in Maine?
With the lowest median home value in the state, Caribou is one of the best places to live in Maine for cheap homes.
What are the most expensive and cheapest places to live in Maine?
The coastal communities of Ogunquit and Kennebunkport have the most expensive housing costs, while Caribou and Presque Isle have the cheapest home prices.
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