The typical owner-occupied home in Bangor is worth about $219,600, 26% below the Maine median of $296,600 and 34% below the national median of $332,700. Owners pay a median $3,076 a year in property taxes, about 1.40% of their home's value, higher than the Maine rate of 1.02%. The median household earns $59,942 a year, so the median home costs 3.7 times the median income (4.0 times for Maine). 47% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Bangor at a glance
| Bangor | Maine | U.S. | |
|---|---|---|---|
| Median home value | $219,600 | $296,600 | $332,700 |
| Median property tax paid per year | $3,076 | $3,036 | $3,119 |
| Property tax as a share of value | 1.40% | 1.02% | 0.94% |
| Median household income | $59,942 | $74,733 | $80,734 |
| Homes lived in by their owners | 47% | 74% | 65% |
| Owner homes with a mortgage | 57% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,620 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 19.9% | 20.6% | 21.0% |
| Median rent | $1,055 | $1,139 | $1,413 |
| Rent as a share of renters' income | 30.8% | 29.4% | 30.6% |
| Median year homes were built | 1954 | 1977 | 1980 |
| Vacant homes | 9.1% | 20.6% | 10.1% |
| Population | 31,938 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Bangor
At this week's average 30-year rate of 7.11%, buying the median Bangor home of $219,600 with 20% down costs about $1,530 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,895, 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 $65,550 for the 20%-down payment. That payment is 31% of the median Bangor household income of $59,942; at that income and 20% down, the 28% guideline points to a home of about $201,000.
The median rent here is $1,055 a month, so owning the median home costs about $475 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,920 |
|---|---|
| Loan amount | $175,680 |
| Principal and interest | $1,182 |
| Property taxes (1.40% a year) | $256 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| PMI | $0 |
| Total per month | $1,530 |
Change the numbers in the calculator
| Down payment | $7,686 |
|---|---|
| Loan amount | $215,622 |
| Principal and interest | $1,451 |
| Property taxes (1.40% a year) | $256 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| FHA mortgage insurance | $97 |
| Total per month | $1,895 |
Change the numbers in the calculator
Questions about home buying in Bangor
What is the median home value in Bangor?
About $219,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bangor?
Homeowners pay a median $3,076 a year, which is about 1.40% 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 Bangor?
For the median home with 20% down at 7.11%, the payment is about $1,530 a month. Keeping that under 28% of gross income takes about $65,550 a year.
More about Bangor
- Mortgage Refinance in Bangor
- Debt Relief in Bangor
- Home Equity Loans in Bangor
- 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