Cost of Living in Oakfield, ME

With a cost of living index of 58, Oakfield, ME is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 28% below the Maine state average of 87. Oakfield is a small community of 464 residents.

Housing costs are the biggest factor in Oakfield's cost of living. The median monthly rent is $575 (56% below the US median of $1,319), and the median home value sits at $67,100 (78% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Oakfield is $46,719, which is 38% lower than the national median of $75,149. Residents spend roughly 15% 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 Oakfield. The area sees an average annual temperature of 40.7°F, with summers averaging 64°F and winters around 16°F. Annual rainfall totals 39.3 inches spread over roughly 144 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.