Quick facts: Smithfield, ME

Quick Facts

106.3
Cost of Living
above US average
1,013
Population
Crime rate Data is updating, will be available soon
Media income Data is updating, will be available soon
$189,900
Median House Price
above US average
$1922
Average Rent
above US average
Poverty rate Data is updating, will be available soon
2.4%
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
$60k/year
Based on $189,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $60k 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 Smithfield, ME

Smithfield is a picturesque town located in Somerset County, Maine, nestled near the western foothills of the picturesque Appalachian Mountains. Known for its serene landscapes and a close-knit community, Smithfield offers a charming blend of rural living and natural beauty. The town is situated near the shores of beautiful Smithfield Lake, providing ample opportunities for recreational activities such as fishing, boating, and hiking. The area boasts a rich history, reflected in its well-preserved architecture and local landmarks. Smithfield serves as a great base for exploring the surrounding region, including nearby towns like Farmington and Skowhegan. Outdoor enthusiasts will appreciate the proximity to the Kennebec Valley and the abundance of parks and trails. The town's small population fosters a friendly atmosphere, where neighbors know each other. Smithfield hosts community events that celebrate local traditions and provide entertainment for residents and visitors alike. Overall, Smithfield, ME, is an inviting destination for those seeking tranquility, outdoor adventure, and a taste of small-town charm.

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