Old Town 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.
IndexOld TownMaineNational
Cost of living index101107100
IndexOld TownMaineNational
Goods & Services index111111100
Groceries index101101100
Health care index113113100
Housing index7294100
Transportation index129129100
Utilities index119119100
An overview of the general cost of living index for Old Town, ME is displayed above for your reference. Residents in Old Town, ME enjoy a cost of living index of 101. This index is 6% lower than the Maine average, and 1% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Old Town, ME, the average cost of goods and services is equal to it is in Maine, and it is 11% higher than the national average.

Did you know?

  • The cost of living in Old Town is 6% lower than the Maine average.
  • The cost of living in Old Town is 1% higher than the national average.
  • The cost of housing in Old Town is 28% 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.

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Compare Old Town, 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 meant to help you compare your salary in Old Town, ME to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Old Town, ME, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Old Town, ME salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$60,466$5,039$1,411$1,814
Renters$21,978$1,832$513$659
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Old Town, ME as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Old Town, ME homeowners, is $60,466. This would allow for a maximum of $1,411 per month to be spent on housing costs. For renters, the median monthly income is $21,978 which would result in a maximum of $513 to be spent on rental costs.

Maine Sales Tax

StateGeneral Sales TaxWith Max Surtax
Maine5.5%5.5%

Maine Income Tax

StateIncome Tax (Low)Income Tax (High)
Maine0%7.95%
For those who live in Old Town, ME and want to know what the true cost of living is, they ought to look at both the Maine income tax rate and the Maine sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Maine, the sales tax is 5.5%, while the most you'll pay in surtax is 5.5%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Maine, the income tax rate ranges between 0% to 7.95%.

Goods & Services

ItemOld TownNational 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

ItemOld TownNational 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

ItemOld TownNational 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

ItemOld TownNational avg.Difference
Home Price $125,400.00$175,700.0028.6%
Avg. Mortgage Payment $1,251.28$1,081.0315.7%
Apartment Rent $684.00$920.0025.7%

Transportation

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

Utilities

ItemOld TownNational 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.
Milford, ME2,2561011%
Bangor, ME32,8001044%
Brewer, ME9,3911055%
Orono, ME9,51411010%
Hampden, ME3,94411010%
Old Town, ME7,7561011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lowell, AR7,75690-10%
Mahopac, NY7,75514242%
Fairfield Glade, TN7,75497-3%
Round Lake Park, IL7,7581022%
Templeton, CA7,75313131%
Old Town, ME7,7561011%
Source: The Old Town, ME cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.