The typical owner-occupied home in Falmouth is worth about $833,300, 2.8 times the Maine median of $296,600 and 2.5 times the national median of $332,700. Owners pay a median $8,152 a year in property taxes, about 0.98% of their home's value, close to the Maine rate of 1.02%. The median household earns $101,484 a year, so the median home costs 8.2 times the median income (4.0 times for Maine). 68% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Falmouth at a glance
| Falmouth | Maine | U.S. | |
|---|---|---|---|
| Median home value | $833,300 | $296,600 | $332,700 |
| Median property tax paid per year | $8,152 | $3,036 | $3,119 |
| Property tax as a share of value | 0.98% | 1.02% | 0.94% |
| Median household income | $101,484 | $74,733 | $80,734 |
| Homes lived in by their owners | 68% | 74% | 65% |
| Owner homes with a mortgage | 46% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $3,360 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 23.2% | 20.6% | 21.0% |
| Median rent | $1,573 | $1,139 | $1,413 |
| Rent as a share of renters' income | 24.7% | 29.4% | 30.6% |
| Median year homes were built | 1973 | 1977 | 1980 |
| Vacant homes | 4.1% | 20.6% | 10.1% |
| Population | 1,585 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Falmouth
At this week's average 30-year rate of 7.11%, buying the median Falmouth home of $833,300 with 20% down costs about $5,512 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,034, 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 $236,240 for the 20%-down payment. That payment is 65% of the median Falmouth household income of $101,484; at that income and 20% down, the 28% guideline points to a home of about $358,000.
The median rent here is $1,573 a month, so owning the median home costs about $3,939 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $166,660 |
|---|---|
| Loan amount | $666,640 |
| Principal and interest | $4,485 |
| Property taxes (0.98% a year) | $681 |
| Homeowners insurance (our estimate, 0.5% a year) | $347 |
| PMI | $0 |
| Total per month | $5,512 |
Change the numbers in the calculator
| Down payment | $29,166 |
|---|---|
| Loan amount | $818,207 |
| Principal and interest | $5,504 |
| Property taxes (0.98% a year) | $681 |
| Homeowners insurance (our estimate, 0.5% a year) | $347 |
| FHA mortgage insurance | $503 |
| Total per month | $7,034 |
Change the numbers in the calculator
Questions about home buying in Falmouth
What is the median home value in Falmouth?
About $833,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Falmouth?
Homeowners pay a median $8,152 a year, which is about 0.98% 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 Falmouth?
For the median home with 20% down at 7.11%, the payment is about $5,512 a month. Keeping that under 28% of gross income takes about $236,240 a year.
More about Falmouth
- Mortgage Refinance in Falmouth
- Debt Relief in Falmouth
- Home Equity Loans in Falmouth
- 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