Quick facts: Phillips, ME

Quick Facts

106.3
Cost of Living
above US average
1,028
Population
Crime rate Data is updating, will be available soon
Media income Data is updating, will be available soon
$219,900
Median House Price
above US average
$1922
Average Rent
above US average
Poverty rate Data is updating, will be available soon
6.4%
Unemployment Rate
above 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 $0.

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Income Needed to Buy

βœ— Stretch
$69k/year
Based on $219,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $69k vs median $0
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Income Needed to Rent

⚠ Stretch
$82k/year
Based on $1922/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $82k vs median $0
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Phillips, ME

Phillips is a charming small town located in Franklin County, Maine, known for its scenic beauty and outdoor recreational opportunities. Nestled in the western part of the state, Phillips is surrounded by the picturesque mountains and lakes that make Maine a popular destination for nature lovers. The town is steeped in history, dating back to its incorporation in 1812, and features a quaint downtown area with local shops and eateries. Outdoor activities abound in Phillips, with opportunities for hiking, fishing, and snowmobiling, particularly in the nearby Rangeley Lakes region and the Maine High Peaks. The town is also close to the Appalachian Trail, making it a perfect stop for hikers. Phillips has a close-knit community that often hosts local events and festivals, showcasing Maine’s rich culture and heritage. With its peaceful atmosphere and natural beauty, Phillips is an ideal spot for anyone looking to escape the hustle and bustle of city life while enjoying the best of Maine’s outdoor adventures.

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