Is Maine Cheap To Live?

A new study found Maine is the 46th most affordable state in the U.S. with expenses taking up 91.3% of income. The national average is 81%.

Is Maine expensive to live in?

Is it expensive to live in Maine? A recent study showed that the cost of living in Maine is the sixth highest in the country. Maine residents spend 91.3% of their income on expenses, which is about 10% more than the national average.

How much money do you need to live comfortably in Maine?

According to GoBankingRates.com, in an article titled “The Salary You Need to Afford Rent in Every State,” a resident of Maine would need to make approximately $58,640 per year in order to afford a single-family residence without having your monthly rent consume more than 30 percent of total income.

What is the average cost to live in Maine?

Average Cost of Living in Maine: $45,272 per year.

What is the most affordable place to live in Maine?

5 Most Affordable Cities in Maine

1. South Portland.
2. Portland.
3. Biddeford.
4. Bangor.
5. Lewiston. Since Lewiston is home to Bates College, a highly ranked liberal arts college, residents take pride in their long history of promoting education.

What is the cheapest state to live in?

Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.

What state has the lowest cost of living?

Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.

Is it cheaper to live in Florida or Maine?

Maine is 12.1% more expensive than Florida.

Why is property in Maine so cheap?

Rural land in Maine is quite inexpensive compared to more populated areas. Part of the reason is that there remains an abundance of undeveloped land in Maine. Maine is the most forested state in the country.

Is Maine cheaper than California?

California is 10.5% more expensive than Maine.

Are groceries expensive in Maine?

Mainers spend the third highest amount on food and beverages in the nation — $3,736 — per capita annually, according to the U.S. Department of Commerce Bureau of Economic Analysis. Only two other rural states spend more: Vermont at $4,104 and Alaska at $3,924. But there is good news in your grocery cart this month.

Is it cheaper to live in Maine or Pennsylvania?

Maine is 5.4% more expensive than Pennsylvania.

Is Maine a nice place to live?

Maine is statistically one of the safest places to live in the whole of the US. Year after year, the state ranks in the bottom five in terms of crime rates.

Where should I not live in Maine?

The 20 Worst Places to Live in Maine

• Howland, Maine.
• Limestone, Maine.
• Washburn, Maine.
• Auburn, Maine.
• Bangor, Maine.
• Waterville, Maine.
• Sanford, Maine. Sanford is a city in York County.
• Portland, Maine. According to Only in Your State, Portland is the most densely populated city in the state of Maine.

Why would I want to live in Maine?

Maine has affordable housing and a lower low cost of living than neighboring states. In addition, it has some of the lowest crime rates in the nation. United States News & World Report ranked Maine as the 1st overall safest state to live, (also 1st in the list of low violent crime and 4th in low property crime).

Is Maine an affordable place to retire?

PRO: Low Cost of Living
In Maine, the cost of living is about 4% lower than the U.S. average in nearly every aspect, including transportation, utilities and housing options. Being such an affordable state means your hard-earned retirement income will go much further!

What is the best state to live in financially?

Overall ranking of best states for your finances

Rank	State	Score
1	Tennessee	4.33
2	Utah	4.45
3	Idaho	4.59
4	Arkansas	4.91

What is the cheapest state to live in 2022?

Most affordable states to live in 2022 are

1. Mississippi. Mississippi has the lowest cost out of living of all 50 states.
2. Kansas. Kansas State has the second lowest cost of living in USA, with the overall cost of living index is 86.8.
3. Oklahoma.
4. Arkansas.
5. Missouri.
6. Alabama.
7. New Mexico.
8. Georgia.

What is the best state in the U.S. to live in?

Washington State was found to be the best state to live in, while Hawaii ranked last. The chief benefits offered by Washington are an average median income that ranks fourth nationally and the fact that it has no state income tax.

What is the most expensive state to live in 2021?

Hawaii
Hawaii. Hawaii is the most expensive state to live in the United States.

What are the 10 most expensive states to live in?

10 Most Expensive States in the U.S.

• Prices don’t tell the whole story though. Comparing the cost of living with local incomes indicates how relatively affordable goods and services are to the people who live there.
• Hawaii.
• New York.
• Massachusetts.
• 4. California.
• Maryland.
• New Jersey.
• Oregon.