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City Report · ME

Saco

Pop. 20,819·11th most expensive in Maine·Rental market data updated monthly for Saco, ME
Median rent (all units)
$2,040/mo
Year-over-Year
Stable
Month-over-Month
-8.4%
vs US Median
+$78
Falling (Monthly)
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Most AffordableMost Expensive
Saco · $2,040
More expensive than 61% of US cities · National median $1,962/mo
Affordability
27% of income
AFFORDABLE
0%30% benchmark60%+

At $2,040/mo, rent takes about 27% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$82,000/yr
Local median income
$92,241/yr
Based on the 30%-of-income rule using Saco's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,340
1 BR
$1,510
2 BR
$1,860
3 BR
$2,460
4 BR+
$2,710
Fair Market Rent (HUD)
$1,860/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,040 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$24,480/yr
At $2,040/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -8.4% MoM), not inventory.
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Demographics

Who lives here

Saco, ME is majority owner-occupied, has a median income above the national average, 43.5% of residents hold a bachelor's degree or higher.

Population
20,819
Median income
$92,241
Median age
44.9
Renters
27.2%
Age distribution
16.7%
20.2%
29.1%
15.5%
18.5%
Under 1816.7%
18–3420.2%
35–5429.1%
55–6415.5%
65+18.5%
Gender
50.9%
49.1%
Male50.9%
Female49.1%
Race & ethnicity
84.6%
White84.6%
Black1.9%
Hispanic3.5%
Asian1.2%
Other8.7%
Education (25+)
25.9%
27%
43.5%
No HS diploma3.5%
HS diploma25.9%
Some college27%
Bachelor's+43.5%
Housing tenure
72.8%
27.2%
Owner72.8%
Renter27.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Saco, ME has changed in 5 years

Income
$72,700 → $92,241
up 26.9%
Population
20,203 → 20,819
up 3.0%
Renter share
31.9% → 27.2%
-4.7 pts
Bachelor's+
40.7% → 43.5%
+2.8 pts
Median age
43.1 → 44.9
+1.8 yrs

Census figures show median household income at $92,241 today, compared with $72,700 five years earlier. The population has grown by 3.0% since 2021, moving from about 20,203 residents to roughly 20,819. Renters now make up 27.2% of households, compared with 31.9% five years ago. College-educated residents now make up 43.5% of adults here, versus 40.7% in 2021.

Community

Discussions about Saco

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View Saco rent history (2015–2026) →
Salary vs rent

Can you afford rent in Saco on your salary?

At $2,040/mo, how Saco rent compares to typical pay (30% rule).

By apartment size

Saco rent by bedroom count

Median rent for each apartment size in Saco. Click any size for full breakdown.

Local insights

Tips for renters in Saco

About renting in Saco, ME

Last updated: August 17, 2026

The median rent in Saco is $2,040/mo as of August 2026. A studio apartment averages $1,340/mo while a 2-bedroom runs $1,860/mo. One-bedroom apartments average $1,510/mo and 3-bedroom units go for $2,460/mo.

At 27% of local median household income ($92,241/yr), Saco ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Saco an affordable city for renters?

Saco is considered affordable for renters. At $2,040/mo, rent takes approximately 27% of the local median household income ($92,241/yr). The standard benchmark is 30%. Saco falls comfortably within that range.

How much income do you need to rent in Saco?

To keep rent at or below 30% of gross income, you would need to earn at least $82,000/year (~$39/hour full-time) to afford the median rent of $2,040/mo in Saco. The local median household income is $92,241/yr, meaning the typical Saco household meets that threshold.

Is rent going up or down in Saco?

Rent in Saco has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Saco rent compare to other cities in Maine?

Saco is middle-of-the-pack for Maine for rent, ranking #11 out of 23 tracked cities at $2,040/mo.

Which nearby cities are cheaper to rent in than Saco?

Several nearby cities have lower median rents than Saco ($2,040/mo): Old Orchard Beach ($1,889/mo), Biddeford ($2,003/mo).

What percentage of Saco residents rent vs. own?

According to Census data, approximately 27.2% of Saco households are renters, while 72.8% are owner-occupied. Saco leans toward homeownership, which can mean a smaller rental inventory.

How does Saco rent compare to the national average?

Saco's median rent of $2,040/mo is $78 (4%) above the US national median of $1,962/mo. Within Maine, it ranks #11 out of 23 tracked cities.
Income Affordability
27%
AFFORDABLE

At $2,040/mo, rent takes ~27% of Saco's median household income ($92,241/yr). The standard benchmark is 30%.

Saco 27%Benchmark 30%
State income tax5.8–7.15%
Run the Saco affordability calculator →
Lowest-rent ZIP codes in Saco
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Saco, ME

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