Total monthly cost of ownership
Cost to Own a Home in Belfast, Maine
A $308,000 home here costs
$2,575per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,583. The real number is $991 higher every month — 63% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Belfast against Waldo County and Maine
| Measure | Belfast | Waldo County |
|---|---|---|
| Median home value | $307,700 | $239,100 |
| Median property tax | $3,810 | $2,593 |
| Effective tax rate | 1.238% | 1.084% |
| Median gross rent | $986 | $969 |
| Population | 6,985 | 40,006 |
The weather behind that power bill
Belfast sits in Waldo County, which averages a high of 77.0°F in its hottest month and a low of 10.2°F in its coldest, with 48.78" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 204 cooling and 7,785 heating degree days, which is what sets the $257 electricity line above.
See the full climate breakdown for Waldo County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Waldo County
Common questions
How much does it cost to own a home in Belfast?
A $308,000 home in Belfast, Maine costs approximately $2,575 per month with 20% down at 6.66%. That is $1,583 principal and interest, $318 property tax, $91 homeowners insurance, $325 utilities and $257 set aside for maintenance.
What is the property tax rate in Belfast?
Belfast has an effective property tax rate of 1.238%, based on a median home value of $307,700 and median real estate taxes of $3,810. That is higher than the Waldo County average of 1.084%.
What is the average home price in Belfast?
The median owner-occupied home value in Belfast, Maine is $307,700, against $239,100 across Waldo County.
Is it cheaper to rent or buy in Belfast?
Median gross rent in Belfast is $986 a month, against $2,575 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Belfast — 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.