Cost of Living in Bangor, ME

With a cost of living index of 80, Bangor, ME is a very affordable place to live. Living here is 20% cheaper than the national average and 6% below the Maine state average of 87. With a population of 31,663, Bangor is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Bangor's cost of living. The median monthly rent is $1,019 (23% below the US median of $1,319), and the median home value sits at $206,300 (32% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Bangor is $58,096, which is 23% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Bangor. The area sees an average annual temperature of 45°F, with summers averaging 67°F and winters around 22°F. Annual rainfall totals 41.7 inches spread over roughly 134 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Bangor, ME (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.