Income needed to buy a home
Penobscot County, ME
$96,971
a year in household income to buy the typical Penobscot County home with 10% down.
The monthly math
Typical home value$281,813
Down payment (10%)$28,181
Loan$253,632
Principal and interest (7.40%)$1,756/mo
Property tax (1.11% a year)$260/mo
Homeowners insurance (estimate)$141/mo
Mortgage insurance$106/mo
Total monthly cost$2,263/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Far off
The typical household here earns $66,356 a year, 68% of what it takes.
In Maine
Penobscot County ranks #5 of 16 for the income a home takes, from least to most.
Easiest to afford in Maine
| County | Typical home | Income needed |
|---|---|---|
| Aroostook County | $169,932 | $58,212 |
| Washington County | $200,966 | $67,888 |
| Piscataquis County | $232,810 | $77,357 |
| Somerset County | $233,245 | $79,284 |
| Franklin County | $293,779 | $99,882 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.