The typical owner-occupied home in Alfred is worth about $365,000, 23% above the Maine median of $296,600 and 10% above the national median of $332,700. Owners pay a median $3,870 a year in property taxes, about 1.06% of their home's value, close to the Maine rate of 1.02%. 52% of occupied homes here are lived in by their owners, and 95% of those owners still have a mortgage.
Alfred at a glance
| Alfred | Maine | U.S. | |
|---|---|---|---|
| Median home value | $365,000 | $296,600 | $332,700 |
| Median property tax paid per year | $3,870 | $3,036 | $3,119 |
| Property tax as a share of value | 1.06% | 1.02% | 0.94% |
| Median household income | – | $74,733 | $80,734 |
| Homes lived in by their owners | 52% | 74% | 65% |
| Owner homes with a mortgage | 95% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,266 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 27.3% | 20.6% | 21.0% |
| Median rent | $769 | $1,139 | $1,413 |
| Rent as a share of renters' income | 32.7% | 29.4% | 30.6% |
| Median year homes were built | 1938 | 1977 | 1980 |
| Vacant homes | 21.1% | 20.6% | 10.1% |
| Population | 661 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Alfred
At this week's average 30-year rate of 7.11%, buying the median Alfred home of $365,000 with 20% down costs about $2,439 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,047, 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 $104,520 for the 20%-down payment.
The median rent here is $769 a month, so owning the median home costs about $1,670 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $73,000 |
|---|---|
| Loan amount | $292,000 |
| Principal and interest | $1,964 |
| Property taxes (1.06% a year) | $322 |
| Homeowners insurance (our estimate, 0.5% a year) | $152 |
| PMI | $0 |
| Total per month | $2,439 |
Change the numbers in the calculator
| Down payment | $12,775 |
|---|---|
| Loan amount | $358,389 |
| Principal and interest | $2,411 |
| Property taxes (1.06% a year) | $322 |
| Homeowners insurance (our estimate, 0.5% a year) | $152 |
| FHA mortgage insurance | $161 |
| Total per month | $3,047 |
Change the numbers in the calculator
Questions about home buying in Alfred
What is the median home value in Alfred?
About $365,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Alfred?
Homeowners pay a median $3,870 a year, which is about 1.06% 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 Alfred?
For the median home with 20% down at 7.11%, the payment is about $2,439 a month. Keeping that under 28% of gross income takes about $104,520 a year.
More about Alfred
- Mortgage Refinance in Alfred
- Debt Relief in Alfred
- Home Equity Loans in Alfred
- 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