Total monthly cost of ownership
Cost to Own a Home in Farmingdale, Maine
A $214,000 home here costs
$1,856per 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 $79,500 a year.
A standard mortgage calculator would have told you $1,167. The real number is $690 higher every month, 59% more than the payment most buyers budget for.
Compare Kennebec County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Farmingdale from a five-year rolling sample, and with about 2,163 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 Kennebec 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.
Farmingdale against Kennebec County and Maine
| Measure | Farmingdale | Kennebec County |
|---|---|---|
| Median home value | $213,700 | $219,900 |
| Median property tax | $2,433 | $2,510 |
| Effective tax rate | 1.139% | 1.141% |
| Median gross rent | $912 | $952 |
| Population | 2,163 | 125,614 |
The weather behind that power bill
Farmingdale sits in Kennebec County, which averages a high of 79.9°F in its hottest month and a low of 12.1°F in its coldest, with 41.84" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 428 cooling and 7,278 heating degree days, which is what sets the $177 electricity line above.
See the full climate breakdown for Kennebec County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kennebec County
Talk to someone who works this market
These are Farmingdale 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 Farmingdale every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Farmingdale?
A $214,000 home in Farmingdale, Maine costs approximately $1,856 per month with 20% down at 7.24%. That is $1,167 principal and interest, $203 property tax, $63 homeowners insurance, $245 utilities and $178 set aside for maintenance.
What is the property tax rate in Farmingdale?
Farmingdale has an effective property tax rate of 1.139%, based on a median home value of $213,700 and median real estate taxes of $2,433. That is in line with the Kennebec County average of 1.141%.
What is the average home price in Farmingdale?
The median owner-occupied home value in Farmingdale, Maine is $213,700, against $219,900 across Kennebec County.
Is it cheaper to rent or buy in Farmingdale?
Median gross rent in Farmingdale is $912 a month, against $1,856 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 Farmingdale?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Farmingdale, Maine at today's rate takes a household income of roughly $79,500 a year. That covers the full $1,856 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Farmingdale, 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.