Total monthly cost of ownership
Cost to Own a Home in Orono, Maine
A $219,000 home here costs
$2,058per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,126. The real number is $932 higher every month — 83% 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.
Orono against Penobscot County and Maine
| Measure | Orono | Penobscot County |
|---|---|---|
| Median home value | $219,200 | $193,800 |
| Median property tax | $4,312 | $2,435 |
| Effective tax rate | 1.967% | 1.256% |
| Median gross rent | $1,150 | $997 |
| Population | 10,699 | 153,571 |
The weather behind that power bill
Orono sits in Penobscot County, which averages a high of 79.3°F in its hottest month and a low of 3.4°F in its coldest, with 44.27" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 337 cooling and 8,272 heating degree days, which is what sets the $257 electricity line above.
See the full climate breakdown for Penobscot County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Penobscot County
Full Penobscot County cost breakdown · Every county in Maine
Common questions
How much does it cost to own a home in Orono?
A $219,000 home in Orono, Maine costs approximately $2,058 per month with 20% down at 6.66%. That is $1,126 principal and interest, $359 property tax, $65 homeowners insurance, $325 utilities and $183 set aside for maintenance.
What is the property tax rate in Orono?
Orono has an effective property tax rate of 1.967%, based on a median home value of $219,200 and median real estate taxes of $4,312. That is higher than the Penobscot County average of 1.256%.
What is the average home price in Orono?
The median owner-occupied home value in Orono, Maine is $219,200, against $193,800 across Penobscot County.
Is it cheaper to rent or buy in Orono?
Median gross rent in Orono is $1,150 a month, against $2,058 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 Orono — 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.