The typical owner-occupied home in Freeport is worth about $421,000, 42% above the Maine median of $296,600 and 27% above the national median of $332,700. Owners pay a median $3,403 a year in property taxes, about 0.81% of their home's value, lower than the Maine rate of 1.02%. The median household earns $59,455 a year, so the median home costs 7.1 times the median income (4.0 times for Maine). 32% of occupied homes here are lived in by their owners, and 85% of those owners still have a mortgage.
Freeport at a glance
| Freeport | Maine | U.S. | |
|---|---|---|---|
| Median home value | $421,000 | $296,600 | $332,700 |
| Median property tax paid per year | $3,403 | $3,036 | $3,119 |
| Property tax as a share of value | 0.81% | 1.02% | 0.94% |
| Median household income | $59,455 | $74,733 | $80,734 |
| Homes lived in by their owners | 32% | 74% | 65% |
| Owner homes with a mortgage | 85% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,926 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 20.6% | 21.0% |
| Median rent | $1,456 | $1,139 | $1,413 |
| Rent as a share of renters' income | 34.5% | 29.4% | 30.6% |
| Median year homes were built | 1980 | 1977 | 1980 |
| Vacant homes | 10.7% | 20.6% | 10.1% |
| Population | 1,441 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Freeport
At this week's average 30-year rate of 7.11%, buying the median Freeport home of $421,000 with 20% down costs about $2,725 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,427, 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 $116,797 for the 20%-down payment. That payment is 55% of the median Freeport household income of $59,455; at that income and 20% down, the 28% guideline points to a home of about $214,000.
The median rent here is $1,456 a month, so owning the median home costs about $1,269 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $84,200 |
|---|---|
| Loan amount | $336,800 |
| Principal and interest | $2,266 |
| Property taxes (0.81% a year) | $284 |
| Homeowners insurance (our estimate, 0.5% a year) | $175 |
| PMI | $0 |
| Total per month | $2,725 |
Change the numbers in the calculator
| Down payment | $14,735 |
|---|---|
| Loan amount | $413,375 |
| Principal and interest | $2,781 |
| Property taxes (0.81% a year) | $284 |
| Homeowners insurance (our estimate, 0.5% a year) | $175 |
| FHA mortgage insurance | $186 |
| Total per month | $3,427 |
Change the numbers in the calculator
Questions about home buying in Freeport
What is the median home value in Freeport?
About $421,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Freeport?
Homeowners pay a median $3,403 a year, which is about 0.81% 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 Freeport?
For the median home with 20% down at 7.11%, the payment is about $2,725 a month. Keeping that under 28% of gross income takes about $116,797 a year.
More about Freeport
- Mortgage Refinance in Freeport
- Debt Relief in Freeport
- Home Equity Loans in Freeport
- 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