Total monthly cost of ownership
Cost to Own a Home in Waterville, Maine
A $174,000 home here costs
$1,613per 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 $69,000 a year.
A standard mortgage calculator would have told you $949. The real number is $665 higher every month, 70% more than the payment most buyers budget for.
Compare Kennebec 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.
Waterville against Kennebec County and Maine
| Measure | Waterville | Kennebec County |
|---|---|---|
| Median home value | $173,700 | $219,900 |
| Median property tax | $2,679 | $2,510 |
| Effective tax rate | 1.542% | 1.141% |
| Median gross rent | $957 | $952 |
| Population | 16,704 | 125,614 |
The weather behind that power bill
Waterville 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 $177 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
Talk to someone who works this market
These are Waterville 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 Waterville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Waterville I already own here and may sell
Common questions
How much does it cost to own a home in Waterville?
A $174,000 home in Waterville, Maine costs approximately $1,613 per month with 20% down at 7.24%. That is $949 principal and interest, $224 property tax, $52 homeowners insurance, $245 utilities and $145 set aside for maintenance.
What is the property tax rate in Waterville?
Waterville has an effective property tax rate of 1.542%, based on a median home value of $173,700 and median real estate taxes of $2,679. That is higher than the Kennebec County average of 1.141%.
What is the average home price in Waterville?
The median owner-occupied home value in Waterville, Maine is $173,700, against $219,900 across Kennebec County.
Is it cheaper to rent or buy in Waterville?
Median gross rent in Waterville is $957 a month, against $1,613 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 Waterville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Waterville, Maine at today's rate takes a household income of roughly $69,000 a year. That covers the full $1,613 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Waterville, 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.