In Maine, the median home costs $381K and the median household income is $76K/year. Find out how much house you can afford based on your income, debts, and down payment. Formula shown, sources cited — no account required.
A median home price of $381,000 against a median household income of $76,442 produces a price-to-income ratio of roughly 5.0 — above the conventional 3-to-4 guideline and reflecting the recent price acceleration driven by out-of-state demand. A 10% down payment requires $38,100, and closing costs at 1.8% add about $6,858, totaling nearly $45,000 in upfront cash. Property taxes at 1.36% add roughly $432 per month to housing costs. The combination of elevated prices, meaningful taxes, and a higher cost of living creates genuine affordability pressure for buyers relying solely on local incomes. The MaineHousing First Home Loan program can help first-time buyers access below-market rates, and the Advantage Program provides down-payment assistance that reduces the upfront cash barrier. The strongest affordability values tend to be in smaller inland communities — Bangor, Lewiston, Augusta — where prices run well below the statewide median. Coastal and Portland-area properties command the steepest premiums. Use the home affordability calculator to input your specific income, debts, and savings to see whether current market prices align with what you can responsibly borrow.
How Much House Can You Afford in Maine?
Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Maine's median income of $76,442/year ($6,370/month), that means a maximum housing payment of roughly $1,784/month.
At 6.51% over 30 years with a 10% down payment ($38,100), that monthly budget supports a purchase price of approximately $361,950–$381,000. The median home price in Maine is $381,000, which means housing is near the national average.