Quick facts: Rumford, ME

Quick Facts

106.3
Cost of Living
above US average
5,687
Population
26.38
Crime Rate per 1000
above US average
$48,000
Median Income
below US average
$210,000
Median House Price
above US average
$1390.0
Average Rent
below US average
12%
Poverty Rate
above US average
3.5%
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 $48,000.

🏠

Income Needed to Buy

βœ— Stretch
$66k/year
Based on $210,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $66k vs median $48,000
🏒

Income Needed to Rent

⚠ Stretch
$60k/year
Based on $1390.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $60k vs median $48,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Rumford, ME

Rumford is a charming town located in Oxford County, Maine, known for its picturesque landscapes and rich history. Nestled along the Androscoggin River, Rumford offers breathtaking views, particularly with its proximity to the Mahoosuc Range and numerous outdoor recreational opportunities. The town is renowned for its paper mills, which played a pivotal role in its development during the 19th and 20th centuries. Residents and visitors can enjoy various activities such as hiking, fishing, and skiing during the winter months, with nearby ski resorts like Sunday River just a short drive away. Rumford's downtown area features quaint shops, local eateries, and historic architecture, providing a glimpse into the town's heritage. The community is tight-knit, with a strong sense of local pride and engagement. Annual events, markets, and festivals celebrate the town's culture and bring together residents and visitors alike. Overall, Rumford embodies the quintessential New England charm, making it an inviting destination for those seeking both adventure and relaxation.

πŸ” Search & Compare Places

First Location πŸ“