Cost of Living in Richmond, ME
Housing
The housing market plays a significant role in determining the cost of living in Richmond, ME.
- Housing Index: 110.7 / 100
- Median Home Price is: Data is updating
- Average Rent (2 BR Apartment): $1922 per month
- Average Rent (2 BR House): $2089 per month
In analyzing the data for residents considering a move to Richmond, ME, it appears that there may be a significant lack of both housing options and pricing information, as indicated by a housing index of 110.7, a median home price of 0, and both average rent figures at zero for 2-bedroom apartments and houses. This scenario indicates a potential housing crisis or an unusually stagnant market where affordability can’t be assessed. Prospective movers should investigate further—examining factors such as local demand, key amenities, and projected developments could yield more insight into the area's livability.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Richmond, 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 Richmond, 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 Richmond is a financially viable option for your relocation.