Total monthly cost of ownership
Cost to Own a Home in Richmond, Maine
A $222,000 home here costs
$1,949per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,141. The real number is $808 higher every month — 71% 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.
Richmond against Sagadahoc County and Maine
| Measure | Richmond | Sagadahoc County |
|---|---|---|
| Median home value | $221,600 | $300,200 |
| Median property tax | $2,776 | $3,365 |
| Effective tax rate | 1.253% | 1.121% |
| Median gross rent | $1,013 | $1,050 |
| Population | 1,946 | 37,093 |
The weather behind that power bill
Richmond sits in Sagadahoc County, which averages a high of 78.6°F in its hottest month and a low of 9.6°F in its coldest, with 48.45" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 259 cooling and 7,668 heating degree days, which is what sets the $257 electricity line above.
See the full climate breakdown for Sagadahoc County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sagadahoc County
Full Sagadahoc County cost breakdown · Every county in Maine
Common questions
How much does it cost to own a home in Richmond?
A $222,000 home in Richmond, Maine costs approximately $1,949 per month with 20% down at 6.66%. That is $1,141 principal and interest, $232 property tax, $66 homeowners insurance, $325 utilities and $185 set aside for maintenance.
What is the property tax rate in Richmond?
Richmond has an effective property tax rate of 1.253%, based on a median home value of $221,600 and median real estate taxes of $2,776. That is higher than the Sagadahoc County average of 1.121%.
What is the average home price in Richmond?
The median owner-occupied home value in Richmond, Maine is $221,600, against $300,200 across Sagadahoc County.
Is it cheaper to rent or buy in Richmond?
Median gross rent in Richmond is $1,013 a month, against $1,949 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 Richmond — 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.