Cost of Living in Rangeley, ME

With a cost of living index of 67, Rangeley, ME is one of the most affordable cities in the country. Living here is 33% cheaper than the national average and 19% below the Maine state average of 87. Rangeley is a small community of 532 residents.

Housing costs are the biggest factor in Rangeley's cost of living. The median monthly rent is $624 (53% below the US median of $1,319), and the median home value sits at $158,300 (48% below the national median of $304,900). At current prices, the median home costs roughly 5.4x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Rangeley is $29,231, which is 61% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Rangeley. The area sees an average annual temperature of 41.4°F, with summers averaging 64°F and winters around 18°F. Annual rainfall totals 36.5 inches spread over roughly 168 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.