Saco 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.
IndexSacoMaineNational
Cost of living index116107100
IndexSacoMaineNational
Goods & Services index111111100
Groceries index101101100
Health care index113113100
Housing index12294100
Transportation index129129100
Utilities index119119100
Here we can see a simple outline of the cost of living in Saco, ME. As you can see, with the average cost of living in Saco, ME being 116, that puts it 8% higher than the average of Maine and 16% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Saco, ME, the price of goods and services are equal to the average of Maine as well as 11% higher than the nation's average.

Did you know?

  • The cost of living in Saco is 8% higher than the Maine average.
  • The cost of living in Saco is 16% higher than the national average.
  • The cost of housing in Saco is 22% higher 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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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 allows you to compare how much your current salary in Saco, ME would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Saco, ME, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Saco, ME salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$71,009$5,917$1,657$2,130
Renters$35,848$2,987$836$1,076
If you want to find a good determining factor for the cost of living and the general affordability of housing in Saco, ME, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Saco, ME, the median monthly income is $71,009 for those who own their own homes. Under the standard rule, that income level would allow for $1,657 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $35,848, per the median income in the area. That would allow for renters to spend up to $836 on monthly rental expenses.

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 Saco, 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

ItemSacoNational 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

ItemSacoNational 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

ItemSacoNational 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

ItemSacoNational avg.Difference
Home Price $235,200.00$175,700.0033.9%
Avg. Mortgage Payment $1,251.28$1,081.0315.7%
Apartment Rent $865.00$920.006.0%

Transportation

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

Utilities

ItemSacoNational 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.
Lake Arrowhead, ME2,8901066%
Old Orchard Beach, ME8,67911010%
Westbrook, ME17,66211111%
North Berwick, ME1,58811111%
Biddeford, ME21,30311313%
Saco, ME18,75711616%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Pinole, CA18,75413838%
Ojus, FL18,7611044%
Fairmont, WV18,74690-10%
Sun Valley, NV18,77896-4%
Rosedale, MD18,7791044%
Saco, ME18,75711616%
Source: The Saco, ME cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.