The typical owner-occupied home in Washburn is worth about $99,300, 67% below the Maine median of $296,600 and 70% below the national median of $332,700. Owners pay a median $1,484 a year in property taxes, about 1.49% of their home's value, higher than the Maine rate of 1.02%. The median household earns $49,250 a year, so the median home costs 2.0 times the median income (4.0 times for Maine). 73% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Washburn at a glance
| Washburn | Maine | U.S. | |
|---|---|---|---|
| Median home value | $99,300 | $296,600 | $332,700 |
| Median property tax paid per year | $1,484 | $3,036 | $3,119 |
| Property tax as a share of value | 1.49% | 1.02% | 0.94% |
| Median household income | $49,250 | $74,733 | $80,734 |
| Homes lived in by their owners | 73% | 74% | 65% |
| Owner homes with a mortgage | 46% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,138 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 15.7% | 20.6% | 21.0% |
| Median rent | $446 | $1,139 | $1,413 |
| Rent as a share of renters' income | 27.9% | 29.4% | 30.6% |
| Median year homes were built | 1970 | 1977 | 1980 |
| Vacant homes | 18.9% | 20.6% | 10.1% |
| Population | 888 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Washburn
At this week's average 30-year rate of 7.11%, buying the median Washburn home of $99,300 with 20% down costs about $699 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $864, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $29,960 for the 20%-down payment. That payment is 17% of the median Washburn household income of $49,250; at that income and 20% down, the 28% guideline points to a home of about $163,000.
The median rent here is $446 a month, so owning the median home costs about $253 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $19,860 |
|---|---|
| Loan amount | $79,440 |
| Principal and interest | $534 |
| Property taxes (1.49% a year) | $123 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $699 |
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| Down payment | $3,476 |
|---|---|
| Loan amount | $97,501 |
| Principal and interest | $656 |
| Property taxes (1.49% a year) | $123 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $44 |
| Total per month | $864 |
Change the numbers in the calculator
Questions about home buying in Washburn
What is the median home value in Washburn?
About $99,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Washburn?
Homeowners pay a median $1,484 a year, which is about 1.49% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Washburn?
For the median home with 20% down at 7.11%, the payment is about $699 a month. Keeping that under 28% of gross income takes about $29,960 a year.
More about Washburn
- Mortgage Refinance in Washburn
- Debt Relief in Washburn
- Home Equity Loans in Washburn
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data