The typical owner-occupied home in Milbridge is worth about $231,800, 22% below the Maine median of $296,600 and 30% below the national median of $332,700. Owners pay a median $1,885 a year in property taxes, about 0.81% of their home's value, lower than the Maine rate of 1.02%. 59% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Milbridge at a glance
| Milbridge | Maine | U.S. | |
|---|---|---|---|
| Median home value | $231,800 | $296,600 | $332,700 |
| Median property tax paid per year | $1,885 | $3,036 | $3,119 |
| Property tax as a share of value | 0.81% | 1.02% | 0.94% |
| Median household income | – | $74,733 | $80,734 |
| Homes lived in by their owners | 59% | 74% | 65% |
| Owner homes with a mortgage | 32% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,277 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 32.5% | 20.6% | 21.0% |
| Median rent | $450 | $1,139 | $1,413 |
| Rent as a share of renters' income | 29.4% | 29.4% | 30.6% |
| Median year homes were built | 1945 | 1977 | 1980 |
| Vacant homes | 42.0% | 20.6% | 10.1% |
| Population | 326 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Milbridge
At this week's average 30-year rate of 7.11%, buying the median Milbridge home of $231,800 with 20% down costs about $1,501 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,887, 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 $64,308 for the 20%-down payment.
The median rent here is $450 a month, so owning the median home costs about $1,051 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,360 |
|---|---|
| Loan amount | $185,440 |
| Principal and interest | $1,247 |
| Property taxes (0.81% a year) | $156 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| PMI | $0 |
| Total per month | $1,501 |
Change the numbers in the calculator
| Down payment | $8,113 |
|---|---|
| Loan amount | $227,602 |
| Principal and interest | $1,531 |
| Property taxes (0.81% a year) | $156 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| FHA mortgage insurance | $103 |
| Total per month | $1,887 |
Change the numbers in the calculator
Questions about home buying in Milbridge
What is the median home value in Milbridge?
About $231,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Milbridge?
Homeowners pay a median $1,885 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 Milbridge?
For the median home with 20% down at 7.11%, the payment is about $1,501 a month. Keeping that under 28% of gross income takes about $64,308 a year.
More about Milbridge
- Mortgage Refinance in Milbridge
- Debt Relief in Milbridge
- Home Equity Loans in Milbridge
- 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