Maine, with its picturesque coastline and outdoor lifestyle, is an enticing place for first-time homebuyers. However, an increase in demand for homes has inflated prices, making homeownership more challenging. In 2024, the average starter home costs about $266,120, necessitating an annual income of at least $63,738. Although Maine remains affordable relative to neighboring states like New Hampshire and Massachusetts, the growing market for vacation homes is driving prices up, and new constructions are limited, indicating a tightening inventory in the housing market.
In 2024, the average cost of a starter home in Maine was approximately $266,120, requiring a household income of at least $63,738 annually.
Maine's affordability rating from the Realtor.com® 2025 Housing Report Card is a 'C,' reflecting limited new construction and increasing competition in housing markets.
Despite Maine's relative affordability compared to states like New Hampshire, increasing second-home buyers and retirees are pushing demand higher and driving up home prices.
Finding affordable starter homes in Maine is challenging due to a surge in demand for vacation homes, especially along the coastline.
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