Quick facts: Thorndike, ME

Quick Facts

106.3
Cost of Living
above US average
894
Population
27.96
Crime Rate per 1000
above US average
$55,000
Median Income
below US average
$182,500
Median House Price
above US average
$1922
Average Rent
above US average
10%
Poverty Rate
below US average
2.3%
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 $55,000.

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Income Needed to Buy

βœ— Stretch
$57k/year
Based on $182,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $57k vs median $55,000
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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 $55,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Thorndike, ME

Thorndike is a small town located in Waldo County, Maine. Nestled in a rural setting, it offers a quaint and peaceful lifestyle surrounded by natural beauty. The town was incorporated in 1811 and has a rich history, primarily connected to agriculture and local industry. One of the town’s significant features is its proximity to Unity Pond, which provides opportunities for outdoor activities such as fishing, boating, and hiking. Thorndike has a tight-knit community character, making it an ideal place for those seeking a slower pace of life. The nearby towns of Unity and Belfast offer additional amenities and services, including shopping and dining. Thorndike's local schools aim to provide quality education, fostering a sense of community among families. Overall, Thorndike stands out for its rural charm, historical significance, and outdoor recreational opportunities, making it a hidden gem in the heart of Maine.

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