Living affordably in Maine is possible, particularly in the northern and central parts of the state where the cost of living is significantly lower than the national average. Areas like Caribou and Presque Isle stand out as the most budget-friendly options, offering substantial savings on overall expenses, especially housing.
Most Affordable Places to Live in Maine
Several towns and cities in Maine offer a more economical lifestyle compared to the rest of the country. These locations often feature lower median home values and reduced daily expenses.
Here's a breakdown of some of the cheapest places to live in Maine:
| City | Median Home Value | Cost of Living Compared to National Average |
|---|---|---|
| 1. Caribou | $158,991 | 24.9% lower ⬇️ |
| 2. Presque Isle | $174,055 | 24.9% lower ⬇️ |
| 3. Skowhegan | $225,500 | 20.6% lower ⬇️ |
| 4. Waterville | $238,827 | 11.4% lower ⬇️ |
Dive Deeper into Affordable Maine Living
Let's explore some of these cost-effective communities:
- Caribou: Located in Aroostook County, Caribou is consistently ranked among the most affordable places in Maine. With a median home value of approximately $158,991, residents enjoy a cost of living that is nearly 25% lower than the national average. This makes it an attractive option for those seeking significant savings on housing and overall expenses.
- Presque Isle: Also situated in Aroostook County, Presque Isle offers a similar level of affordability to Caribou. Its median home value is around $174,055, and the cost of living is also about 24.9% lower than the national average. This region provides a more rural setting with access to natural beauty and a tight-knit community feel.
- Skowhegan: Moving further south into Somerset County, Skowhegan presents another affordable choice. Here, the median home value is approximately $225,500, with the overall cost of living being about 20.6% lower than the national average. Skowhegan offers a blend of small-town charm with more amenities than some of the further northern towns.
- Waterville: Located in Kennebec County, Waterville is a slightly larger community with a median home value around $238,827. While its cost of living is 11.4% lower than the national average—not as low as the northern towns—it still represents a significant saving for those looking to live in a more central Maine location with access to colleges and a more developed downtown area.
These locations provide excellent opportunities for individuals and families looking to reduce their living expenses while enjoying the unique charm and natural beauty of Maine. The significantly lower median home values and overall cost of living in these areas make them prime candidates for affordable residency in the state.
