Cost of Living in Freeport, ME

With a cost of living index of 108, Freeport, ME is somewhat more expensive than average. Living here is 8% more expensive than the national average and 21% above the Maine state average of 87. Freeport is a small community of 1,544 residents.

Housing costs are the biggest factor in Freeport's cost of living. The median monthly rent is $1,426 (8% above the US median of $1,319), and the median home value sits at $344,100 (13% above the national median of $304,900). At current prices, the median home costs roughly 7.1x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Freeport is $48,352, which is 36% lower than the national median of $75,149. Residents spend roughly 35% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

Climate is another factor for anyone considering a move to Freeport. The area sees an average annual temperature of 45.7°F, with summers averaging 67°F and winters around 24°F. Annual rainfall totals 50 inches spread over roughly 128 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Portland-South Portland, 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.