Quick facts: Richmond, ME

Quick Facts

106.3
Cost of Living
above US average
3,411
Population
Crime rate Data is updating, will be available soon
Media income Data is updating, will be available soon
$365,000
Median House Price
above US average
$1475.0
Average Rent
above US average
Poverty rate Data is updating, will be available soon
1.9%
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 $0.

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Income Needed to Buy

βœ— Stretch
$115k/year
Based on $365,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $115k vs median $0
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Income Needed to Rent

⚠ Stretch
$63k/year
Based on $1475.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $63k 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 Richmond, ME

Richmond is a small town located in Sagadahoc County, Maine, sitting at the confluence of the Kennebec River and the Androscoggin River. With a rich history dating back to its incorporation in 1756, Richmond features picturesque landscapes and charming New England architecture. The town is known for its strong sense of community, with local events and gatherings that foster connections among residents. Richmond offers outdoor activities such as hiking, fishing, and boating, particularly in its proximity to the rivers and various natural parks. The town also showcases a variety of small businesses, local eateries, and artisan shops that contribute to its quaint atmosphere. Educational institutions are available, serving the local population, and the town is characterized by its friendly, welcoming vibe. With a blend of historical significance and natural beauty, Richmond is an appealing destination for those seeking a quieter lifestyle while remaining close to larger urban centers like Bath and Brunswick.

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