How much rent can you afford in Old Town, ME?
Run your salary against Old Town's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Old Town
At a median rent of $1,839/mo, Old Town is stretched for most renters when measured against Old Town median household income of $51,585/yr. Rent would consume roughly 43% of pre-tax income, and a salary of about $73,560 keeps rent at the recommended 30% threshold.
How Old Town compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Old Town?
On a $51,585 salary (the Old Town median household income), the recommended ceiling is 30% of pre-tax income, or about $1,290/mo. Old Town's median rent is $1,839/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Old Town?
To keep Old Town's $1,839/mo median rent under 30% of income, you'd need about $73,560/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Old Town affordable on the median Maine income?
Old Town is stretched for most renters on a $51,585 income. Rent would take 43% of pre-tax pay, outside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".