Cost of Living in Bangor, ME
Housing
The housing market plays a significant role in determining the cost of living in Bangor, ME.
- Housing Index: 110.5 / 100
- Median Home Price is: $227,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1300 per month
In Bangor, ME, the housing market displays a housing index of 110.5, indicating that it’s slightly more expensive compared to the national average. With a median home price of 227000, potential homeowners may find this market moderately accessible, although it's essential to consider an average rent of 1200 for a 2-bedroom apartment or 1300 for a house. It's worth noting that rental prices can impact your overall budget and purchasing power in the long run. Evaluate your financial position to determine the most viable option.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Bangor, ME.
- Electricity Price: $22.26 USD (median by state)
- Natural Gas Price: $21.63 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Bangor, ME could entail higher utility costs. Electricity costs sit at $22.26, while natural gas is priced at $21.63 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bangor is a financially viable option for your relocation.