Cost of Living in Milo, ME

With a cost of living index of 61, Milo, ME is one of the most affordable cities in the country. Living here is 39% cheaper than the national average and 25% below the Maine state average of 87. Milo is a small community of 1,445 residents.

Housing costs are the biggest factor in Milo's cost of living. The median monthly rent is $608 (54% below the US median of $1,319), and the median home value sits at $88,000 (71% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Milo is $52,660, which is 30% lower than the national median of $75,149. Residents spend roughly 14% 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 Milo. The area sees an average annual temperature of 43.2°F, with summers averaging 65°F and winters around 20°F. Annual rainfall totals 44.4 inches spread over roughly 147 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.