Total monthly cost of ownership
Cost to Own a Home in Belfast, Maine
A $308,000 home here costs
$2,590per 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 $111,000 a year.
A standard mortgage calculator would have told you $1,679. The real number is $910 higher every month, 54% more than the payment most buyers budget for.
Compare Waldo County with anywhere in America · full county breakdown
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 $177 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
Talk to someone who works this market
These are Belfast 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 Belfast every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Belfast I already own here and may sell
Common questions
How much does it cost to own a home in Belfast?
A $308,000 home in Belfast, Maine costs approximately $2,590 per month with 20% down at 7.24%. That is $1,679 principal and interest, $318 property tax, $91 homeowners insurance, $245 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 $2,590 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 Belfast?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Belfast, Maine at today's rate takes a household income of roughly $111,000 a year. That covers the full $2,590 monthly cost, not just the mortgage payment.
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.