Mortgage payment estimates, closing cost breakdowns, and homebuying data for Saco, Maine.
Median Home Price
$395K
Population
20K
Avg Monthly Rent
$1,450
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 Saco.
Saco vs Maine Median
The median home price in Saco is $395,000, which is 13% above the Maine state median of $350,000.
Mortgage Calculator — Saco, ME
Pre-filled with Saco median home price and Maine tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $395K home using Maine's 1.3% tax rate and $1,300/yr insurance.
5% Down
$3,127/mo
Down: $19,750
Loan: $375K
P&I: $2,372
Tax: $428
Insurance: $108
PMI: $219
10% Down
$2,991/mo
Down: $39,500
Loan: $356K
P&I: $2,247
Tax: $428
Insurance: $108
PMI: $207
20% Down (No PMI)
$2,534/mo
Down: $79,000
Loan: $316K
P&I: $1,997
Tax: $428
Insurance: $108
Income needed (28% rule): $109K/year with 20% down, $128K/year with 10% down.
Rent vs Buy in Saco
Rent
$1,450/mo
vs
Buy (10% down)
$2,991/mo
Price-to-rent ratio: 22.7 — At a ratio above 20, renting may be more economical in Saco for shorter stays. Buying costs $1,541 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 Saco is $395,000, 13% above the Maine state median of $350,000. With a population of 20,381, Saco 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 $395,000 home in Saco would carry roughly $428/month in property taxes. Homeowners insurance in Maine runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Saco is $1,450/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.
Saco presents moderate affordability. The $395K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.