Mortgage Calculator & Closing Costs: Biddeford, ME
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Biddeford, Maine.
Median Home Price
$365K
Population
23K
Avg Monthly Rent
$1,480
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 Biddeford.
Biddeford vs Maine Median
The median home price in Biddeford is $365,000, which is roughly in line with the Maine state median of $350,000.
Mortgage Calculator — Biddeford, ME
Pre-filled with Biddeford median home price and Maine tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $365K home using Maine's 1.3% tax rate and $1,300/yr insurance.
5% Down
$2,898/mo
Down: $18,250
Loan: $347K
P&I: $2,192
Tax: $395
Insurance: $108
PMI: $202
10% Down
$2,772/mo
Down: $36,500
Loan: $329K
P&I: $2,076
Tax: $395
Insurance: $108
PMI: $192
20% Down (No PMI)
$2,349/mo
Down: $73,000
Loan: $292K
P&I: $1,846
Tax: $395
Insurance: $108
Income needed (28% rule): $101K/year with 20% down, $119K/year with 10% down.
Rent vs Buy in Biddeford
Rent
$1,480/mo
vs
Buy (10% down)
$2,772/mo
Price-to-rent ratio: 20.6 — At a ratio above 20, renting may be more economical in Biddeford for shorter stays. Buying costs $1,292 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Biddeford is $365,000, roughly in line with the Maine state median of $350,000. With a population of 22,516, Biddeford is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Maine average 1.3% annually. This moderate property tax rate means a $365,000 home in Biddeford would carry roughly $395/month in property taxes. Homeowners insurance in Maine runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Biddeford is $1,480/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Biddeford presents moderate affordability. The $365K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Biddeford.