Mortgage payment estimates, closing cost breakdowns, and homebuying data for Bangor, Maine.
Median Home Price
$235K
Population
32K
Avg Monthly Rent
$1,150
Property Tax Rate
1.3% *
* Property tax shown is the Maine state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Bangor.
Bangor vs Maine Median
The median home price in Bangor is $235,000, which is 33% below the Maine state median of $350,000.
Mortgage Calculator — Bangor, ME
Pre-filled with Bangor median home price and Maine tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $235K home using Maine's 1.3% tax rate and $1,300/yr insurance.
5% Down
$1,904/mo
Down: $11,750
Loan: $223K
P&I: $1,411
Tax: $255
Insurance: $108
PMI: $130
10% Down
$1,823/mo
Down: $23,500
Loan: $212K
P&I: $1,337
Tax: $255
Insurance: $108
PMI: $123
20% Down (No PMI)
$1,551/mo
Down: $47,000
Loan: $188K
P&I: $1,188
Tax: $255
Insurance: $108
Income needed (28% rule): $66K/year with 20% down, $78K/year with 10% down.
Rent vs Buy in Bangor
Rent
$1,150/mo
vs
Buy (10% down)
$1,823/mo
Price-to-rent ratio: 17.0 — A ratio between 15-20 means the rent vs buy decision in Bangor depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Bangor is $235,000, 33% below the Maine state median of $350,000. With a population of 32,029, Bangor is a smaller market where home prices tend to be more accessible than in many parts of Maine.
Property taxes in Maine average 1.3% annually. This moderate property tax rate means a $235,000 home in Bangor would carry roughly $255/month in property taxes. Homeowners insurance in Maine runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Bangor is $1,150/month. The price-to-rent ratio in Bangor is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Bangor offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Maine's MaineHousing First Home program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Bangor.