Total monthly cost of ownership
Cost to Own a Home in Hallowell, Maine
A $267,000 home here costs
$2,301per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,373. The real number is $929 higher every month — 68% 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.
Hallowell against Kennebec County and Maine
| Measure | Hallowell | Kennebec County |
|---|---|---|
| Median home value | $266,700 | $219,900 |
| Median property tax | $3,614 | $2,510 |
| Effective tax rate | 1.355% | 1.141% |
| Median gross rent | $830 | $952 |
| Population | 2,570 | 125,614 |
The weather behind that power bill
Hallowell 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 $257 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
Common questions
How much does it cost to own a home in Hallowell?
A $267,000 home in Hallowell, Maine costs approximately $2,301 per month with 20% down at 6.66%. That is $1,373 principal and interest, $301 property tax, $79 homeowners insurance, $325 utilities and $223 set aside for maintenance.
What is the property tax rate in Hallowell?
Hallowell has an effective property tax rate of 1.355%, based on a median home value of $266,700 and median real estate taxes of $3,614. That is higher than the Kennebec County average of 1.141%.
What is the average home price in Hallowell?
The median owner-occupied home value in Hallowell, Maine is $266,700, against $219,900 across Kennebec County.
Is it cheaper to rent or buy in Hallowell?
Median gross rent in Hallowell is $830 a month, against $2,301 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 Hallowell — 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.