Mortgage Calculator & Closing Costs: Waterville, ME
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Waterville, Maine.
Median Home Price
$225K
Population
17K
Avg Monthly Rent
$1,050
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 Waterville.
Waterville vs Maine Median
The median home price in Waterville is $225,000, which is 36% below the Maine state median of $350,000.
Mortgage Calculator — Waterville, ME
Pre-filled with Waterville median home price and Maine tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $225K home using Maine's 1.3% tax rate and $1,300/yr insurance.
5% Down
$1,828/mo
Down: $11,250
Loan: $214K
P&I: $1,351
Tax: $244
Insurance: $108
PMI: $125
10% Down
$1,750/mo
Down: $22,500
Loan: $203K
P&I: $1,280
Tax: $244
Insurance: $108
PMI: $118
20% Down (No PMI)
$1,490/mo
Down: $45,000
Loan: $180K
P&I: $1,138
Tax: $244
Insurance: $108
Income needed (28% rule): $64K/year with 20% down, $75K/year with 10% down.
Rent vs Buy in Waterville
Rent
$1,050/mo
vs
Buy (10% down)
$1,750/mo
Price-to-rent ratio: 17.9 — A ratio between 15-20 means the rent vs buy decision in Waterville 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 Waterville is $225,000, 36% below the Maine state median of $350,000. With a population of 16,623, Waterville 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 $225,000 home in Waterville would carry roughly $244/month in property taxes. Homeowners insurance in Maine runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Waterville is $1,050/month. The price-to-rent ratio in Waterville is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Waterville 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 Waterville.