Quick facts: Carmel, ME

Quick Facts

106.3
Cost of Living
above US average
2,794
Population
5.37
Crime Rate per 1000
below US average
$62,857
Median Income
below US average
$239,000
Median House Price
above US average
$1675.0
Average Rent
above US average
9%
Poverty Rate
below US average
2.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $62,857.

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Income Needed to Buy

βœ— Stretch
$75k/year
Based on $239,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $75k vs median $62,857
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Income Needed to Rent

⚠ Stretch
$72k/year
Based on $1675.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $72k vs median $62,857
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Carmel, ME

Carmel, Maine, is a small town located in Penobscot County, known for its picturesque landscapes and close-knit community. Covering an area of approximately 36 square miles, Carmel is characterized by its rural charm, featuring rolling hills, wooded areas, and several lakes, making it an ideal spot for outdoor enthusiasts. The town has a rich history, with its roots dating back to the 19th century. Carmel offers a peaceful lifestyle, with a population of around 3,000 residents who enjoy a quiet, family-friendly atmosphere. The community is served by several local schools, and there are opportunities for local events and recreational activities, including hiking, fishing, and camping in the nearby natural areas. Proximity to larger towns means residents can easily access amenities and services while enjoying the tranquility of small-town living. Carmel is conveniently located about 20 miles southwest of Bangor, providing easy access to shopping, dining, and entertainment while offering a retreat from the hustle and bustle of urban life.

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