Total monthly cost of ownership
Cost to Own a Home in Damariscotta, Maine
A $387,000 home here costs
$3,072per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,990. The real number is $1,083 higher every month — 54% 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.
Damariscotta against Lincoln County and Maine
| Measure | Damariscotta | Lincoln County |
|---|---|---|
| Median home value | $387,200 | $306,200 |
| Median property tax | $3,841 | $2,850 |
| Effective tax rate | 0.992% | 0.931% |
| Median gross rent | $1,016 | $1,003 |
| Population | 1,172 | 35,840 |
The weather behind that power bill
Damariscotta sits in Lincoln County, which averages a high of 78.3°F in its hottest month and a low of 14.7°F in its coldest, with 49.25" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 346 cooling and 7,077 heating degree days, which is what sets the $257 electricity line above.
See the full climate breakdown for Lincoln County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lincoln County
Common questions
How much does it cost to own a home in Damariscotta?
A $387,000 home in Damariscotta, Maine costs approximately $3,072 per month with 20% down at 6.66%. That is $1,990 principal and interest, $320 property tax, $115 homeowners insurance, $325 utilities and $323 set aside for maintenance.
What is the property tax rate in Damariscotta?
Damariscotta has an effective property tax rate of 0.992%, based on a median home value of $387,200 and median real estate taxes of $3,841. That is higher than the Lincoln County average of 0.931%.
What is the average home price in Damariscotta?
The median owner-occupied home value in Damariscotta, Maine is $387,200, against $306,200 across Lincoln County.
Is it cheaper to rent or buy in Damariscotta?
Median gross rent in Damariscotta is $1,016 a month, against $3,072 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 Damariscotta — 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.