Key Findings
- The cheapest places to live in Maine is Caribou, which has a median home price of only $151,348. With a cost of living index of 83.2, life in Caribou is affordable as it has the lowest cost of living index in the state.
- Presque Isle is the second cheapest town in Maine, with a median home price of $166,429 and a cost of living index of 85.5, far below the US average of 100.
- The third cheapest place to live in Maine is Skowhegan, where the median home price is a relatively affordable $215,065.
11 Cheapest Places to Live in Maine
- Caribou
- Presque Isle
- Skowhegan
- Waterville
- Winslow
- Bangor
- Augusta
- Gardiner
- Lewsiton
- Orono
- Auburn
1. Caribou
Caribou, located in the northeastern United States, is a cozy city nestled in Maine, known for its affordability and serene landscapes. With a population of 7,396, it boasts a median home price of $151,348, making it the cheapest place to live in Maine with a cost of living index of 83.2 (U.S. average is 100).
As a service center for agriculture and tourism, it offers a blend of rural charm and economic opportunities. Moreover, Caribou is a haven for outdoor enthusiasts, featuring over a dozen cross-country ski trails showcasing diverse scenery, attracting visitors and residents alike to explore its natural beauty.
2. Presque Isle
Presque Isle is a commercial hub and the biggest city in Aroostook County, Maine. With its population of 8,797, it offers affordable living, with a median home price of $166,429 and a cost of living index of 85.5. Additionally, Presque Isle is home to the University of Maine at Presque Isle and Northern Maine Community College, providing educational opportunities to its residents.
3. Skowhegan
Skowhegan, nestled by the Kennebec River, is the third cheapest place to live in Maine. With a median home price of $215,065 and a cost of living index at 85.2, it's more affordable than many other Maine’s cities. Its population stands at 8,620. Each August, the town comes alive with the Skowhegan State Fair, the nation's oldest ongoing state fair, drawing visitors from near and far.
4. Waterville
Next on our list of cheapest places to live in Maine is Waterville, a city in Kennebec County. It sits by the Kennebec River and has around 15,828 people. The median home price is $230,408, and the cost of living is lower than average, with a score of 87.6 compared to the U.S. average of 100. Waterville is also home to Colby College and Thomas College.
5. Winslow
Winslow, nestled in Central Maine along the Kennebec River, was once known as Taconock, an old Indian settlement. With a population exceeding 8,000, it's a bustling community. The median home price stands at $262,270, making it an affordable place to settle. Winslow boasts a cost of living index of 87.4, promising a comfortable lifestyle for its residents.
6. Bangor
Bangor, established in the mid-19th century, grew alongside lumber and shipbuilding industries. It's nicknamed the "Queen City" and houses around 31,753 people. The median home price is $262,644, and the cost of living index is 96.5. The economy thrives on services, retail, healthcare, and education.
7. Augusta
Augusta, the capital of Maine, is a budget-friendly city where you can live comfortably without breaking the bank. With a median home price of $264,492 and a cost of living index of 88.6, it's an affordable option. Home to a population of 19,066, Augusta sits along the Kennebec River, which makes its downtown area prone to spring floods. Despite this, it remains an attractive and economical choice for residents seeking a more affordable lifestyle in Maine.
8. Gardiner
Nestled in the heart of Maine, Gardiner shines with its rich culture and charming old buildings. With a population of 6,106, this quaint town boasts a median home price of $278,852, making it an affordable place to live with a cost of living index of 87.3. Conveniently positioned less than an hour’s drive from bustling Portland, Gardiner offers the perfect blend of small-town charm and accessibility to urban amenities.
9. Lewiston
Lewiston, the second biggest city in Maine, is famed for its low cost of living, plentiful medical facilities, and low violent-crime rate. With a population of 38,493, it offers a comfortable lifestyle. The median home price stands at $286,106, and the cost of living index in Lewiston is 94.1, making it an affordable place to reside with access to essential amenities.
10. Orono
Orono, a town in Penobscot County, Maine, has a lot to offer. It's number 10 on our list of cheapest places to live in Maine, with an incorporation date back to 1806. The population stands at 10,679. The median home price is $288,404, and the cost of living index is 97.2. Since 1865, Orono has been home to the University of Maine, adding to its charm and vibrancy.
11. Auburn
Auburn is a lively city nestled in south-central Maine, home to around 24,193 people. With a median home price of $303,883 and a cost of living index of 94.2, it offers affordability along with its charm. Auburn's calendar is dotted with various festivals and events like the Winter Festival and the Balloon Festival, keeping its residents and visitors entertained year-round..