2026 data · 1.18% property tax · Median home $262,200
Maine Mortgage Calculator
A median-priced home in Maine ($262,200) costs roughly $1,741 per month all-in (PITI), assuming 20% down and a 30-year fixed at 7.0%. Maine's effective property tax rate is 1.18% — close to the US average of about 1.0%.
Maine median-home monthly payment
$1,741/mo
P&I $1,396 · Tax $258 · Insurance $87
@ $262,200 price, 20% down, 30-yr fixed at 7.0%
For a custom calculation with your specific numbers (different down payment, rate, term, or home price), use the main mortgage calculator — it includes a full amortization schedule.
Monthly payments at common home prices in Maine
| Home price | 20% down | P&I | Prop tax | Insurance | Total PITI/mo |
|---|---|---|---|---|---|
| $200,000 | $40,000 | $1,064 | $197 | $67 | $1,328 |
| $262,200 (state median) | $52,440 | $1,396 | $258 | $87 | $1,741 |
| $300,000 | $60,000 | $1,597 | $295 | $100 | $1,992 |
| $400,000 | $80,000 | $2,129 | $393 | $133 | $2,656 |
| $500,000 | $100,000 | $2,661 | $492 | $167 | $3,320 |
| $750,000 | $150,000 | $3,992 | $738 | $250 | $4,979 |
Calculations use Maine's 1.18% effective property tax rate, estimated homeowners insurance at 0.40%/year of home value, 30-year fixed at 7.0%, no PMI (20% down). Closing costs not included.
Maine property tax
Effective rate
1.18%
Median home value
$262,200
Median property tax
$3,070/yr
Maine has above-average property tax rates. Homestead exemption of $25,000. Property Tax Fairness Credit available for lower-income homeowners.
See our property tax calculator for a state-by-state property tax breakdown, and our Maine paycheck calculator to estimate take-home pay against this monthly housing cost.
Maine vs neighboring states
| State | Property tax rate | Median home | Median tax/yr | |
|---|---|---|---|---|
| Maine (this page) | 1.18% | $262,200 | $3,070 | |
| New Hampshire | 1.86% | $343,200 | $6,372 | New Hampshire mortgage → |
FAQs about Maine mortgages
What is the property tax rate in Maine?
Maine's effective property tax rate is 1.18%, meaning the average homeowner pays roughly 1.18% of their home's value in property tax annually. On a $262,200 home (the state median), that's about $3,070 per year, or $256 per month added to your mortgage payment.
What is the average monthly mortgage payment in Maine?
For a home at Maine's median value of $262,200, assuming 20% down, a 30-year fixed mortgage at 7.0%, and Maine's 1.18% property tax + estimated insurance, the typical monthly PITI payment is approximately $1,741. This includes $1,396 principal & interest, $258 property tax, and $87 homeowners insurance.
How much income do I need to buy a house in Maine?
Using the standard 28% front-end DTI rule, you'd need annual income of approximately $74,614 to comfortably afford Maine's median-priced home. Lenders typically allow up to 43% total DTI (including all debts), which corresponds to about $48,586 annual income at the maximum end. Your specific qualification depends on credit score, down payment, debts, and lender requirements.
Is Maine a good state to buy a house?
Maine's combination of 1.18% property tax (near the national average of ~1.0%) and median home value of $262,200 place it in the mid-range of state housing markets nationally. Maine has above-average property tax rates.
How does Maine property tax compare to neighboring states?
Maine's 1.18% rate compares to: New Hampshire at 1.86%. Property taxes can differ substantially between bordering states — moving 30 miles across a state line can change your annual tax bill by thousands.
Does Maine have a homestead exemption?
Maine has above-average property tax rates. Homestead exemption of $25,000. Property Tax Fairness Credit available for lower-income homeowners.
What's included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four standard components of a mortgage payment. For your Maine mortgage, the breakdown on a median-priced home would be: Principal & Interest $1,396, Property Tax $258, Homeowners Insurance $87. Add PMI if your down payment is under 20%, and HOA fees if your home is in a community with one.