Total monthly cost of ownership
Cost to Own a Home in Bar Harbor, Maine
A $480,000 home here costs
$3,732per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $160,000 a year.
A standard mortgage calculator would have told you $2,617. The real number is $1,115 higher every month, 43% more than the payment most buyers budget for.
Compare Hancock County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Bar Harbor from a five-year rolling sample, and with about 2,311 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Hancock County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bar Harbor against Hancock County and Maine
| Measure | Bar Harbor | Hancock County |
|---|---|---|
| Median home value | $479,600 | $278,400 |
| Median property tax | $3,932 | $2,445 |
| Effective tax rate | 0.820% | 0.878% |
| Median gross rent | $1,084 | $1,000 |
| Population | 2,311 | 56,084 |
The weather behind that power bill
Bar Harbor sits in Hancock County, which averages a high of 77.4°F in its hottest month and a low of 10.6°F in its coldest, with 49.38" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 221 cooling and 7,650 heating degree days, which is what sets the $177 electricity line above.
See the full climate breakdown for Hancock County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hancock County
Talk to someone who works this market
These are Bar Harbor averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Bar Harbor every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bar Harbor I already own here and may sell
Common questions
How much does it cost to own a home in Bar Harbor?
A $480,000 home in Bar Harbor, Maine costs approximately $3,732 per month with 20% down at 7.24%. That is $2,617 principal and interest, $328 property tax, $142 homeowners insurance, $245 utilities and $400 set aside for maintenance.
What is the property tax rate in Bar Harbor?
Bar Harbor has an effective property tax rate of 0.820%, based on a median home value of $479,600 and median real estate taxes of $3,932. That is lower than the Hancock County average of 0.878%.
What is the average home price in Bar Harbor?
The median owner-occupied home value in Bar Harbor, Maine is $479,600, against $278,400 across Hancock County.
Is it cheaper to rent or buy in Bar Harbor?
Median gross rent in Bar Harbor is $1,084 a month, against $3,732 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Bar Harbor?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bar Harbor, Maine at today's rate takes a household income of roughly $160,000 a year. That covers the full $3,732 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bar Harbor, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Maine.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.