The typical owner-occupied home in Old Orchard Beach is worth about $366,600, 24% above the Maine median of $296,600 and 10% above the national median of $332,700. Owners pay a median $3,426 a year in property taxes, about 0.93% of their home's value, lower than the Maine rate of 1.02%. The median household earns $60,050 a year, so the median home costs 6.1 times the median income (4.0 times for Maine). 68% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Old Orchard Beach at a glance
| Old Orchard Beach | Maine | U.S. | |
|---|---|---|---|
| Median home value | $366,600 | $296,600 | $332,700 |
| Median property tax paid per year | $3,426 | $3,036 | $3,119 |
| Property tax as a share of value | 0.93% | 1.02% | 0.94% |
| Median household income | $60,050 | $74,733 | $80,734 |
| Homes lived in by their owners | 68% | 74% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,905 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 26.6% | 20.6% | 21.0% |
| Median rent | $1,246 | $1,139 | $1,413 |
| Rent as a share of renters' income | 30.4% | 29.4% | 30.6% |
| Median year homes were built | 1982 | 1977 | 1980 |
| Vacant homes | 31.1% | 20.6% | 10.1% |
| Population | 9,244 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Old Orchard Beach
At this week's average 30-year rate of 7.11%, buying the median Old Orchard Beach home of $366,600 with 20% down costs about $2,410 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,020, 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 $103,276 for the 20%-down payment. That payment is 48% of the median Old Orchard Beach household income of $60,050; at that income and 20% down, the 28% guideline points to a home of about $213,000.
The median rent here is $1,246 a month, so owning the median home costs about $1,164 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $73,320 |
|---|---|
| Loan amount | $293,280 |
| Principal and interest | $1,973 |
| Property taxes (0.93% a year) | $284 |
| Homeowners insurance (our estimate, 0.5% a year) | $153 |
| PMI | $0 |
| Total per month | $2,410 |
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| Down payment | $12,831 |
|---|---|
| Loan amount | $359,960 |
| Principal and interest | $2,421 |
| Property taxes (0.93% a year) | $284 |
| Homeowners insurance (our estimate, 0.5% a year) | $153 |
| FHA mortgage insurance | $162 |
| Total per month | $3,020 |
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Questions about home buying in Old Orchard Beach
What is the median home value in Old Orchard Beach?
About $366,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Old Orchard Beach?
Homeowners pay a median $3,426 a year, which is about 0.93% 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 Old Orchard Beach?
For the median home with 20% down at 7.11%, the payment is about $2,410 a month. Keeping that under 28% of gross income takes about $103,276 a year.
More about Old Orchard Beach
- Mortgage Refinance in Old Orchard Beach
- Debt Relief in Old Orchard Beach
- Home Equity Loans in Old Orchard Beach
- 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