Portland, ME

Above Avg · 120

Maine · Population 68,505 · Updated March 2026

$1,487
Median Rent / Month
$76,174
Median Income
$452,600
Median Home Value
$1,573
Owner Costs / Month

Affordability

How far your income goes in Portland

23.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Maine

State-level tax rates that affect your costs

7.15%
Income Tax (Top Rate)
5.5%
Sales Tax
1.3%
Property Tax Rate

Estimated Annual Costs

$17,844
Annual Rent
$5,446
State Income Tax
$5,884
Property Tax (est.)

Cost of Living Overview

Portland has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 120 (where 100 equals the national median), Portland residents can expect to pay median rent of $1,487/month while earning a median household income of $76,174/year.

The median home value in Portland, ME is $452,600, with typical monthly owner costs around $1,573 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Maine has a moderate income tax rate of 7.15%. Combined with a 5.5% sales tax rate and 1.3% effective property tax rate, the overall tax environment is a factor in the total cost of living in Portland.

Frequently Asked Questions

Common questions about living costs in Portland

What is the cost of living in Portland, ME?
The cost of living index in Portland, ME is 120 (US average = 100). Median monthly rent is $1,487, median household income is $76,174/year, and the median home value is $452,600.
Is Portland, ME affordable?
No, Portland is more expensive than the national average with a cost index of 120. The rent-to-income ratio is 23.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Portland, ME?
The median gross rent in Portland, ME is $1,487 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,844.
What is the median household income in Portland?
The median household income in Portland, ME is $76,174 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Maine?
Maine has a top income tax rate of 7.15%, a sales tax of 5.5%, and an effective property tax rate of 1.3%.