Waterville, ME

Very Low · 63

Maine · Population 16,704 · Updated March 2026

$957
Median Rent / Month
$47,489
Median Income
$173,700
Median Home Value
$952
Owner Costs / Month

Affordability

How far your income goes in Waterville

24.2%
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

$11,484
Annual Rent
$3,395
State Income Tax
$2,258
Property Tax (est.)

Cost of Living Overview

Waterville is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 63 (where 100 equals the national median), Waterville residents can expect to pay median rent of $957/month while earning a median household income of $47,489/year.

The median home value in Waterville, ME is $173,700, with typical monthly owner costs around $952 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.2% 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 Waterville.

Frequently Asked Questions

Common questions about living costs in Waterville

What is the cost of living in Waterville, ME?
The cost of living index in Waterville, ME is 63 (US average = 100). Median monthly rent is $957, median household income is $47,489/year, and the median home value is $173,700.
Is Waterville, ME affordable?
Yes, Waterville is more affordable than the national average with a cost index of 63. The rent-to-income ratio is 24.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Waterville, ME?
The median gross rent in Waterville, ME is $957 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,484.
What is the median household income in Waterville?
The median household income in Waterville, ME is $47,489 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%.