The typical owner-occupied home in Penobscot County is worth about $214,100, 28% below the Maine median of $296,600 and 36% below the national median of $332,700. Owners pay a median $2,481 a year in property taxes, about 1.16% of their home's value, higher than the Maine rate of 1.02%. The median household earns $66,356 a year, so the median home costs 3.2 times the median income (4.0 times for Maine). 71% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Penobscot County at a glance
| Penobscot County | Maine | U.S. | |
|---|---|---|---|
| Median home value | $214,100 | $296,600 | $332,700 |
| Median property tax paid per year | $2,481 | $3,036 | $3,119 |
| Property tax as a share of value | 1.16% | 1.02% | 0.94% |
| Median household income | $66,356 | $74,733 | $80,734 |
| Homes lived in by their owners | 71% | 74% | 65% |
| Owner homes with a mortgage | 54% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,562 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 20.6% | 21.0% |
| Median rent | $1,041 | $1,139 | $1,413 |
| Rent as a share of renters' income | 30.2% | 29.4% | 30.6% |
| Median year homes were built | 1977 | 1977 | 1980 |
| Vacant homes | 13.8% | 20.6% | 10.1% |
| Population | 154,710 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Penobscot County
At this week's average 30-year rate of 7.11%, buying the median Penobscot County home of $214,100 with 20% down costs about $1,448 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,805, 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 $62,073 for the 20%-down payment. That payment is 26% of the median Penobscot County household income of $66,356; at that income and 20% down, the 28% guideline points to a home of about $229,000.
The median rent here is $1,041 a month, so owning the median home costs about $407 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $42,820 |
|---|---|
| Loan amount | $171,280 |
| Principal and interest | $1,152 |
| Property taxes (1.16% a year) | $207 |
| Homeowners insurance (our estimate, 0.5% a year) | $89 |
| PMI | $0 |
| Total per month | $1,448 |
Change the numbers in the calculator
| Down payment | $7,494 |
|---|---|
| Loan amount | $210,222 |
| Principal and interest | $1,414 |
| Property taxes (1.16% a year) | $207 |
| Homeowners insurance (our estimate, 0.5% a year) | $89 |
| FHA mortgage insurance | $95 |
| Total per month | $1,805 |
Change the numbers in the calculator
Questions about home buying in Penobscot County
What is the median home value in Penobscot County?
About $214,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Penobscot County?
Homeowners pay a median $2,481 a year, which is about 1.16% 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 Penobscot County?
For the median home with 20% down at 7.11%, the payment is about $1,448 a month. Keeping that under 28% of gross income takes about $62,073 a year.
More about Penobscot County
- Mortgage Refinance in Penobscot County
- Debt Relief in Penobscot County
- Home Equity Loans in Penobscot County
- 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