Total monthly cost of ownership
Cost to Own a Home in Topsham, Maine
A $342,000 home here costs
$2,837per 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 $121,500 a year.
A standard mortgage calculator would have told you $1,865. The real number is $972 higher every month, 52% more than the payment most buyers budget for.
Compare Sagadahoc County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Topsham against Sagadahoc County and Maine
| Measure | Topsham | Sagadahoc County |
|---|---|---|
| Median home value | $341,800 | $300,200 |
| Median property tax | $4,093 | $3,365 |
| Effective tax rate | 1.197% | 1.121% |
| Median gross rent | $1,211 | $1,050 |
| Population | 6,962 | 37,093 |
The weather behind that power bill
Topsham 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 $177 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
Talk to someone who works this market
These are Topsham 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 Topsham every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Topsham I already own here and may sell
Common questions
How much does it cost to own a home in Topsham?
A $342,000 home in Topsham, Maine costs approximately $2,837 per month with 20% down at 7.24%. That is $1,865 principal and interest, $341 property tax, $101 homeowners insurance, $245 utilities and $285 set aside for maintenance.
What is the property tax rate in Topsham?
Topsham has an effective property tax rate of 1.197%, based on a median home value of $341,800 and median real estate taxes of $4,093. That is higher than the Sagadahoc County average of 1.121%.
What is the average home price in Topsham?
The median owner-occupied home value in Topsham, Maine is $341,800, against $300,200 across Sagadahoc County.
Is it cheaper to rent or buy in Topsham?
Median gross rent in Topsham is $1,211 a month, against $2,837 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 Topsham?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Topsham, Maine at today's rate takes a household income of roughly $121,500 a year. That covers the full $2,837 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Topsham, 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.