Bangor cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBangorMaineNational
Cost of living index104107100
IndexBangorMaineNational
Goods & Services index111111100
Groceries index101101100
Health care index113113100
Housing index8394100
Transportation index129129100
Utilities index119119100
Displayed above is a general overview of the Bangor, ME cost of living index. The overall cost of living index in Bangor, ME is 104, which is 3% lower than the Maine average and 4% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Bangor, ME are equal to the Maine average and 11% higher than the national average.

Did you know?

  • The cost of living in Bangor is 3% lower than the Maine average.
  • The cost of living in Bangor is 4% higher than the national average.
  • The cost of housing in Bangor is 17% lower than the national average.
  • Maine general sales tax is 8% higher than the national average.
  • Maine state income tax is 100% lower than the national average.

Find Real Estate Listings In Bangor

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Bangor

Compare Bangor, ME Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Bangor, ME to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Bangor, ME, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Bangor, ME salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$61,871$5,156$1,444$1,856
Renters$24,486$2,041$571$735
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Bangor, ME, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Bangor, ME has a median income of about $61,871 for people who own homes. Based on that number, a person should spend a maximum of $1,444 on expenses related to housing. Renters have a slightly different median income, which is $24,486. Based on this average, renters should spend no more than $571 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Maine Sales Tax

StateGeneral Sales TaxWith Max Surtax
Maine5.5%5.5%

Maine Income Tax

StateIncome Tax (Low)Income Tax (High)
Maine0%7.95%
One thing to keep in mind when considering the cost of living in Bangor, ME is the Maine sales tax and Maine income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Maine sales tax rate is 5.5% and the maximum surtax that can be charged is 5.5%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Maine income tax rates range from 0% to 7.95%.

Goods & Services

ItemBangorNational avg.Difference
Haircut $15.62$14.597.0%
Beauty Salon $38.07$34.689.8%
Toothpaste $2.50$2.471.1%
Shampoo $0.99$1.023.1%
Movie $10.12$9.872.6%
Bowling $4.76$4.398.4%

Groceries

ItemBangorNational avg.Difference
Ground Beef $2.99$4.4833.2%
Fried Chicken $1.59$1.468.6%
Milk $2.19$2.367.1%
Potatoes $3.32$3.068.4%
Pizza $8.68$9.246.1%
Beer $8.99$8.634.1%

Health Care

ItemBangorNational avg.Difference
Optometrist $142.33$99.7842.6%
Doctor $121.42$105.0315.6%
Dentist $104.81$88.7018.2%
Ibuprofen $8.99$9.414.5%
Lipitor $293.43$298.501.7%

Housing

ItemBangorNational avg.Difference
Home Price $147,400.00$175,700.0016.1%
Avg. Mortgage Payment $1,251.28$1,081.0315.7%
Apartment Rent $742.00$920.0019.3%

Transportation

ItemBangorNational avg.Difference
Gasoline $2.71$2.0929.5%
Tire Balancing $58.40$45.2929.0%

Utilities

ItemBangorNational avg.Difference
All Electricity$242.75$170.8042.1%
Phone $24.69$28.2612.6%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Bucksport, ME2,45398-2%
Milford, ME2,2561011%
Old Town, ME7,7561011%
Brewer, ME9,3911055%
Winterport, ME1,1681099%
Bangor, ME32,8001044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Menlo Park, CA32,792220120%
Rosenberg, TX32,78989-11%
McMinnville, OR32,83911111%
Leawood, KS32,84212525%
Watertown Town, MA32,88015656%
Bangor, ME32,8001044%
Source: The Bangor, ME cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.