The typical owner-occupied home in South Berwick is worth about $396,700, 34% above the Maine median of $296,600 and 19% above the national median of $332,700. Owners pay a median $4,523 a year in property taxes, about 1.14% of their home's value, higher than the Maine rate of 1.02%. The median household earns $90,972 a year, so the median home costs 4.4 times the median income (4.0 times for Maine). 67% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
South Berwick at a glance
| South Berwick | Maine | U.S. | |
|---|---|---|---|
| Median home value | $396,700 | $296,600 | $332,700 |
| Median property tax paid per year | $4,523 | $3,036 | $3,119 |
| Property tax as a share of value | 1.14% | 1.02% | 0.94% |
| Median household income | $90,972 | $74,733 | $80,734 |
| Homes lived in by their owners | 67% | 74% | 65% |
| Owner homes with a mortgage | 63% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,083 | $1,729 | $1,963 |
| Those costs as a share of the owners' income | 21.4% | 20.6% | 21.0% |
| Median rent | $1,702 | $1,139 | $1,413 |
| Rent as a share of renters' income | 31.8% | 29.4% | 30.6% |
| Median year homes were built | 1981 | 1977 | 1980 |
| Vacant homes | 4.8% | 20.6% | 10.1% |
| Population | 3,381 | 1,387,817 | 334,922,499 |
What a typical home costs per month in South Berwick
At this week's average 30-year rate of 7.11%, buying the median South Berwick home of $396,700 with 20% down costs about $2,677 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,338, 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 $114,731 for the 20%-down payment. That payment is 35% of the median South Berwick household income of $90,972; at that income and 20% down, the 28% guideline points to a home of about $315,000.
The median rent here is $1,702 a month, so owning the median home costs about $975 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $79,340 |
|---|---|
| Loan amount | $317,360 |
| Principal and interest | $2,135 |
| Property taxes (1.14% a year) | $377 |
| Homeowners insurance (our estimate, 0.5% a year) | $165 |
| PMI | $0 |
| Total per month | $2,677 |
Change the numbers in the calculator
| Down payment | $13,884 |
|---|---|
| Loan amount | $389,515 |
| Principal and interest | $2,620 |
| Property taxes (1.14% a year) | $377 |
| Homeowners insurance (our estimate, 0.5% a year) | $165 |
| FHA mortgage insurance | $175 |
| Total per month | $3,338 |
Change the numbers in the calculator
Questions about home buying in South Berwick
What is the median home value in South Berwick?
About $396,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in South Berwick?
Homeowners pay a median $4,523 a year, which is about 1.14% 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 South Berwick?
For the median home with 20% down at 7.11%, the payment is about $2,677 a month. Keeping that under 28% of gross income takes about $114,731 a year.
More about South Berwick
- Mortgage Refinance in South Berwick
- Debt Relief in South Berwick
- Home Equity Loans in South Berwick
- 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