Cost of Living in Portland, ME
Housing
The housing market plays a significant role in determining the cost of living in Portland, ME.
- Housing Index: 115.0 / 100
- Median Home Price is: $434,000
- Average Rent (2 BR Apartment): $2122 per month
- Average Rent (2 BR House): $2307 per month
Considering your move to Portland, ME, the housing index of 115.0 indicates that the cost of living is higher than the national average. With a median home price of 434000, purchasing a home here may be a significant investment. Renting appears costly too, with average rents for a 2BR apartment at 2122 and a house reaching 2307. Remember, factors such as job market, quality of schools, and amenities may influence your decision, making it crucial to evaluate the overall value you would gain from living in Portland.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Portland, 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.): $250 per month
Living in Portland, 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 $250 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 Portland is a financially viable option for your relocation.