Cost of Living in Eagle Lake, ME

With a cost of living index of 62, Eagle Lake, ME is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 24% below the Maine state average of 87. Eagle Lake is a small community of 378 residents.

Housing costs are the biggest factor in Eagle Lake's cost of living. The median monthly rent is $613 (54% below the US median of $1,319), and the median home value sits at $102,800 (66% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Eagle Lake is $36,806, which is 51% lower than the national median of $75,149. Residents spend roughly 20% 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 Eagle Lake. The area sees an average annual temperature of 40.1°F, with summers averaging 64°F and winters around 15°F. Annual rainfall totals 32.9 inches spread over roughly 150 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.