The typical owner-occupied home in Saco is worth about $413,100, 39% above the Maine median of $296,600 and 24% above the national median of $332,700. Owners pay a median $4,807 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 $92,241 a year, so the median home costs 4.5 times the median income (4.0 times for Maine). 73% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Saco at a glance
| Saco | Maine | U.S. | |
|---|---|---|---|
| Median home value | $413,100 | $296,600 | $332,700 |
| Median property tax paid per year | $4,807 | $3,036 | $3,119 |
| Property tax as a share of value | 1.16% | 1.02% | 0.94% |
| Median household income | $92,241 | $74,733 | $80,734 |
| Homes lived in by their owners | 73% | 74% | 65% |
| Owner homes with a mortgage | 63% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,088 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 20.8% | 20.6% | 21.0% |
| Median rent | $1,249 | $1,139 | $1,413 |
| Rent as a share of renters' income | 30.1% | 29.4% | 30.6% |
| Median year homes were built | 1982 | 1977 | 1980 |
| Vacant homes | 8.8% | 20.6% | 10.1% |
| Population | 20,819 | 1,387,817 | 334,922,499 |
What a typical home costs per month in Saco
At this week's average 30-year rate of 7.11%, buying the median Saco home of $413,100 with 20% down costs about $2,795 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,483, 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 $119,769 for the 20%-down payment. That payment is 36% of the median Saco household income of $92,241; at that income and 20% down, the 28% guideline points to a home of about $318,000.
The median rent here is $1,249 a month, so owning the median home costs about $1,546 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $82,620 |
|---|---|
| Loan amount | $330,480 |
| Principal and interest | $2,223 |
| Property taxes (1.16% a year) | $399 |
| Homeowners insurance (our estimate, 0.5% a year) | $172 |
| PMI | $0 |
| Total per month | $2,795 |
Change the numbers in the calculator
| Down payment | $14,458 |
|---|---|
| Loan amount | $405,618 |
| Principal and interest | $2,729 |
| Property taxes (1.16% a year) | $399 |
| Homeowners insurance (our estimate, 0.5% a year) | $172 |
| FHA mortgage insurance | $183 |
| Total per month | $3,483 |
Change the numbers in the calculator
Questions about home buying in Saco
What is the median home value in Saco?
About $413,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Saco?
Homeowners pay a median $4,807 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 Saco?
For the median home with 20% down at 7.11%, the payment is about $2,795 a month. Keeping that under 28% of gross income takes about $119,769 a year.
More about Saco
- Mortgage Refinance in Saco
- Debt Relief in Saco
- Home Equity Loans in Saco
- 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