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City Report · ME

Waterville

Pop. 17,077·24th most expensive in Maine·One of the most affordable rental markets in the US
Median rent (all units)
$1,295/mo
Year-over-Year
+4.3%
Month-over-Month
-4.4%
vs US Median
-$670
Falling (Monthly)
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Most AffordableMost Expensive
Waterville · $1,295
More affordable than 88% of US cities · National median $1,965/mo
Affordability
29% of income
AFFORDABLE
0%30% benchmark60%+

At $1,295/mo, rent takes about 29% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$52,000/yr
Local median income
$53,580/yr
Based on the 30%-of-income rule using Waterville's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,063
1 BR
$832
2 BR
$1,044
3 BR
$1,288
Research median
$1,044/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$15,540/yr
At $1,295/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (up only 4.3% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+4.3% YoY, -4.4% MoM), not inventory.
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Demographics

Who lives here

Waterville, ME is roughly split between renters and owners, skews toward younger working-age adults, has a median income below the national average, 30.8% of residents hold a bachelor's degree or higher.

Population
17,077
Median income
$53,580
Median age
35.5
Renters
51.2%
Age distribution
14.4%
34.7%
18.5%
14.1%
18.3%
Under 1814.4%
18–3434.7%
35–5418.5%
55–6414.1%
65+18.3%
Gender
49.3%
50.7%
Male49.3%
Female50.7%
Race & ethnicity
87.9%
White87.9%
Black1.5%
Hispanic3%
Asian1.8%
Other5.8%
Education (25+)
31.3%
29.6%
30.8%
No HS diploma8.4%
HS diploma31.3%
Some college29.6%
Bachelor's+30.8%
Housing tenure
48.8%
51.2%
Owner48.8%
Renter51.2%

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

2021 vs 2026

How Waterville, ME has changed in 5 years

Income
$41,245 → $53,580
up 29.9%
Population
15,872 → 17,077
up 7.6%
Renter share
53.8% → 51.2%
-2.6 pts
Bachelor's+
29.9% → 30.8%
+0.9 pts

Median household income climbed from $41,245 to $53,580 between 2021 and 2024, a 29.9% shift. Census counts show Waterville, ME adding about 1,205 residents over the five-year window, up 7.6% on net. The renter share has eased from 53.8% to 51.2%, with owner-occupied housing accounting for the remainder.

Community

Discussions about Waterville

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

Can you afford rent in Waterville on your salary?

At $1,295/mo, how Waterville rent compares to typical pay (30% rule).

By apartment size

Waterville rent by bedroom count

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

Local insights

Tips for renters in Waterville

About renting in Waterville, ME

Last updated: July 20, 2026

The median rent in Waterville is $1,295/mo as of July 2026. A studio apartment averages $1,063/mo while a 2-bedroom runs $1,044/mo. One-bedroom apartments average $832/mo and 3-bedroom units go for $1,288/mo.

At 29% of local median household income ($53,580/yr), Waterville ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.

FAQ

Frequently asked questions

Is Waterville an affordable city for renters?

Waterville is considered affordable for renters. At $1,295/mo, rent takes approximately 29% of the local median household income ($53,580/yr). The standard benchmark is 30%. Waterville falls comfortably within that range.

How much income do you need to rent in Waterville?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (~$25/hour full-time) to afford the median rent of $1,295/mo in Waterville. The local median household income is $53,580/yr, meaning the typical Waterville household meets that threshold.

Is rent going up or down in Waterville?

Rent in Waterville has increased 4.3% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Waterville rent compare to other cities in Maine?

Waterville is one of the more affordable cities in Maine for rent, ranking #24 out of 25 tracked cities at $1,295/mo.

What percentage of Waterville residents rent vs. own?

According to Census data, approximately 51.2% of Waterville households are renters, while 48.8% are owner-occupied. With a majority renter population, Waterville has a strong rental market.

How does Waterville rent compare to the national average?

Waterville's median rent of $1,295/mo is $670 (34%) below the US national median of $1,965/mo. Within Maine, it ranks #24 out of 25 tracked cities.
Income Affordability
29%
AFFORDABLE

At $1,295/mo, rent takes ~29% of Waterville's median household income ($53,580/yr). The standard benchmark is 30%.

Waterville 29%Benchmark 30%
State income tax5.8–7.15%
Run the Waterville affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Waterville, ME

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