Cost of Living in Wiscasset, ME

With a cost of living index of 104, Wiscasset, ME is somewhat more expensive than average. Living here is 4% more expensive than the national average and 18% above the Maine state average of 87. Wiscasset is a small community of 1,273 residents.

Housing costs are the biggest factor in Wiscasset's cost of living. The median monthly rent is $1,517 (15% above the US median of $1,319), and the median home value sits at $281,700 (8% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Wiscasset is $91,477, which is 22% higher 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.

Climate is another factor for anyone considering a move to Wiscasset. The area sees an average annual temperature of 45.9°F, with summers averaging 66°F and winters around 25°F. Annual rainfall totals 46.7 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.