What’s the average mortgage payment in Maine?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Maine is around $1,720 before property taxes and insurance. This places Maine slightly below the national average, with housing costs influenced by moderate home prices, regional demand differences, and rising interest rates.

While coastal and southern parts of the state tend to be more expensive, many inland and northern areas remain relatively affordable, giving buyers a wide range of price points depending on location.

Overview of the Maine housing market

The median sale price of a home in Maine is roughly $398,400, according to Redfin’s statewide housing data. Home prices have seen a slight but steady increase in recent years, particularly in southern Maine and coastal communities, where demand from out-of-state buyers is especially strong.

Here’s a snapshot of recent median sale prices from Redfin across several Maine cities:

Factors that influence mortgage payments in Maine

Your monthly payment includes principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage^® mortgage calculator can help you see how different variables affect your payment.

Home price and down payment

Maine’s home prices vary widely by region. A buyer purchasing a median-priced home with a 20% down payment and 6.5% interest will result in a monthly payment of $2,015 before interest and taxes. However, coastal counties and areas near Portland often require significantly higher loan amounts.

A down payment below 20% typically requires private mortgage insurance (PMI), which can add over $200 per month, depending on loan terms and credit profile.

Mortgage rate

Your Maine mortgage rate depends on:

• Credit score and credit history

• Debt-to-income ratio (DTI)

• Loan type

• Down payment amount

• Home type and location

• Current market conditions

Loan term

The length of your mortgage also affects your payment. Most homebuyers choose either a 30-year or 15-year mortgage. A 30-year mortgage offers lower monthly payments, while a 15-year loan typically comes with higher monthly payments but significantly less interest over time.

Property taxes and insurance

Maine’s average effective property tax rate is approximately 1.10%, which is higher than the national average. Property taxes can add around $365 per month to a mortgage payment on a typical house in Maine.

Homeowners insurance in Maine averages about $145 per month, though premiums can vary based on location, weather exposure, and proximity to the coast.

How do mortgage payments in Maine compare to others in the region?

While mortgage rates are similar across states, Maine’s average monthly mortgage payment is lower than many other Northeastern states, largely due to more moderate home prices.

Northeastern states tend to be among the most expensive when it comes to the housing market, but Maine remains one of the more affordable states in the area for buyers seeking lower monthly mortgage payments.

Counties with the highest mortgage payments in Maine

Mortgage payments are highest in southern and coastal counties, where home prices and demand are strongest. The following counties have the highest estimated monthly mortgage payments based on Q1 2025 median sale prices from the National Association of REALTORS^®:

Counties with the lowest mortgage payments in Maine

Northern and rural counties tend to have significantly lower home prices and mortgage payments. Here are the Maine counties with the lowest payments:

How to calculate your mortgage payment

Lenders use a standard formula that factors in the loan amount, interest rate, and loan term to determine monthly payments.

Home buyers can use a simple online mortgage calculator to adjust these variables and see how they affect monthly payments. Additional tools allow you to estimate PMI, property taxes, and insurance costs.

Maine-specific mortgage resources

Maine offers several programs to help homebuyers reduce upfront costs or improve affordability:

• MaineHousing: Offers first-time homebuyer programs, low-interest loans, and down payment assistance.

• USDA Rural Development Loans: Many areas of Maine qualify for USDA loans, which allow for 0% down payments.

Average mortgage payment in Maine FAQ

Where can I find the lowest average mortgage payments in Maine?

Washington County offers the lowest average mortgage payments, with an average monthly cost of $1,010.

Which county has the highest average mortgage payments in Maine?

At $3,210, Cumberland County has the highest average mortgage payments, driven by strong demand in and around the Portland metro area.

How much do you need to make to afford a home in Maine?

Using the 28/36 rule, a household with a typical $1,720 monthly mortgage payment would ideally earn about $6,150 per month, or roughly $73,800 annually, depending on other debts.

The bottom line: Multiple factors shape your mortgage payment in Maine

Maine’s mortgage payments remain relatively affordable compared to much of the Northeast, though costs vary significantly by region. Coastal and southern areas tend to have higher prices, while inland and northern counties continue to offer lower monthly payments.

Understanding local market trends, interest rates, and available assistance programs can help buyers find the right home at the right price.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence. 

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.