Cost of Living in Minot, ME
Housing
The housing market plays a significant role in determining the cost of living in Minot, ME.
- Housing Index: 110.7 / 100
- Median Home Price is: $250,000
- Average Rent (2 BR Apartment): $1922 per month
- Average Rent (2 BR House): $2089 per month
When considering a move to Minot, ME, keep an eye on the housing market indicated by the zero housing index and the absence of average rents for both 2-bedroom apartments and houses. However, the median home price is positioned at 250000, presenting an opportunity for potential homebuyers. This could suggest a nascent market ripe for growth or areas not commonly attracting renters. We recommend researching local amenities, job market conditions, and demographic trends, as thriving neighborhoods often inspire quicker appreciation in property values despite current price inactivity.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Minot, ME.
- Electricity Price: $22.26 USD (median by state)
- Natural Gas Price: $21.63 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $242 per month
Living in Minot, ME could entail higher utility costs. Electricity costs sit at $22.26, while natural gas is priced at $21.63 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $242 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Minot is a financially viable option for your relocation.