Mortgage payment estimates, closing cost breakdowns, and homebuying data for Portland, Maine.
Pre-filled with Portland median home price and Maine tax/insurance rates. Adjust for your property.
Estimated closing costs based on Maine rates and fees applied to Portland prices.
The median home price in Portland is $475,000, 36% above the Maine state median of $350,000. With a population of 68,408, Portland is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Maine average 1.3% annually. This moderate property tax rate means a $475,000 home in Portland would carry roughly $515/month in property taxes. Homeowners insurance in Maine runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Portland is $1,850/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Portland is a higher-cost market. At $475K median, buyers need significant savings or strong income. Down payment assistance through Maine's MaineHousing First Home program becomes especially important.