Total monthly cost of ownership
Cost to Own a Home in Norridgewock, Maine
A $173,000 home here costs
$1,588per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $889. The real number is $699 higher every month — 79% 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.
Norridgewock against Somerset County and Maine
| Measure | Norridgewock | Somerset County |
|---|---|---|
| Median home value | $173,000 | $155,200 |
| Median property tax | $2,138 | $1,798 |
| Effective tax rate | 1.236% | 1.159% |
| Median gross rent | $968 | $887 |
| Population | 1,155 | 50,852 |
The weather behind that power bill
Norridgewock sits in Somerset County, which averages a high of 75.4°F in its hottest month and a low of 5.4°F in its coldest, with 44.5" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 200 cooling and 8,860 heating degree days, which is what sets the $257 electricity line above.
See the full climate breakdown for Somerset County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Somerset County
Common questions
How much does it cost to own a home in Norridgewock?
A $173,000 home in Norridgewock, Maine costs approximately $1,588 per month with 20% down at 6.66%. That is $889 principal and interest, $178 property tax, $51 homeowners insurance, $325 utilities and $144 set aside for maintenance.
What is the property tax rate in Norridgewock?
Norridgewock has an effective property tax rate of 1.236%, based on a median home value of $173,000 and median real estate taxes of $2,138. That is higher than the Somerset County average of 1.159%.
What is the average home price in Norridgewock?
The median owner-occupied home value in Norridgewock, Maine is $173,000, against $155,200 across Somerset County.
Is it cheaper to rent or buy in Norridgewock?
Median gross rent in Norridgewock is $968 a month, against $1,588 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 Norridgewock — 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.