Here’s How Much Money You Need To Make To Live Comfortably In Maine

Like everywhere else in America, and across the world, there is both good and bad news when it comes to Maine's cost of living, salaries, and affordability. If you’ve ever wondered what it takes to live comfortably in Maine, we have the numbers for you as compared with the rest of the country, but just a warning: you might not like it.

Median salaries in Maine are much lower than the national median salaries, which is evident in many occupations. Electricians, for example, make a median of $39,000 in Maine compared to a national median of $51,110.

Based on data acquired by Movoto, the disparity remains in a variety of positions, including office managers, administrative assistants, and carpenters.

Despite these wage disparities, the cost of living in Maine is approximately 13 percent higher than the national average, based on a report from the Bangor Daily News, while other sources put that difference above 15 percent.

Unfortunately, childcare, housing, healthcare, taxes, and transportation are all higher in Maine than they are across the nation.

GoBankingRates, in an article titled "The Salary You Need to Afford Rent in Every State," states that a resident of Maine would need to make approximately $58,640 per year in order to afford a single-family residence without having your monthly rent consume more than 30 percent of total income.

With a median rent of $1,466 across the state, it would be difficult for someone earning the average annual income in Maine to comfortably afford rent. Why?

Because the average annual wage in Maine is $45,300 - more than $13,000 less than what you would need to afford rent.

That figure is only slightly lower when you consider owning a home rather than renting one, with HowMuch calculating that you would need approximately $55,520 to afford the average home in Maine with a 30-year mortgage and 10 percent down payment.

Of course, housing costs aren’t the only factor in determining whether you can live comfortably or not.

Maine ranks at No. 10 on HowMuch’s list of States with the Highest Total Cost for Utilities, costing an average of $464.45 per month. Utility figures include electricity, natural gas, internet, cable, and water.

However, we must also remember that while wages might be low and Maine's cost of living might be high, the quality of life is unlike any other you’ll find in America - in a good way.

Maine is a wonderfully rural and beautiful state with many more pros than cons. Despite the higher cost of living, we are so lucky to call it home.

Tell us, do you think you live comfortably in Maine? Is the cost of living in Maine a challenge for you and your family? Share your opinions in the comment section, then remind yourself of what makes Maine the best state in America.