B
1%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
15%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Bangor Maine National
Cost of living101102100
Goods & Services109109100
Groceries102102100
Health care103103100
Housing8592100
Transportation109109100
Utilities107107100

An Overview of Cost of Living in Bangor, ME

Getting a feel for the cost of living in Bangor is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Bangor is 101, which is 1% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

In Bangor, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Bangor will resemble that of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in Bangor?

Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Bangor and this is how they responded. 67% of people said that the cost of living was affordable, with prices decreasing, while 33% of people said that the cost of living was very expensive and prices continue to rise.

Is Bangor Affordable?

Wondering if Bangor is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Bangor, for example, the median home price is 16% lower than what folks pay nationally, and monthly rent is 12.1% lower than the usual rates. Plus, income levels matter too, with Bangor boasting a median household income of $47,538, which is 14.1% lower than the national average.

What Factors can Influence the Cost of Living in Bangor?

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Bangor, the housing index is 14.8% lower than the national average.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Bangor, the groceries index is 1.8% higher than the national average.

Where is the Data From?

The Bangor cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Bangor is 2% lower than the Maine average
  • The cost of living in Bangor is 1% higher than the national average
  • Bangor housing is 15% lower than the national average
  • Maine general sales tax is 8% higher than the national average
  • Maine state income tax is 123% higher than the national average

Most Affordable Places to Live in and Around Bangor

See all the best places to live around Bangor

Compare Bangor, ME Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$73,863$6,155$1,723$2,216
      Renters$31,703$2,642$740$951
      A good way to judge both the affordability of the housing and the cost of living in Bangor is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Bangor has a median income of about $73,863 for people who own homes. Based on that number, a maximum of $1,723 should be spent on expenses related to housing. Renters have a slightly different median income, which is $31,703. Based on this average, renters should spend no more than $740 on all rental costs if they want to maintain a non-impoverished standard of living.

      Maine Sales Tax

      State General Sales Tax With Max Surtax
      Maine 5.5% 5.5%

      Maine Income Tax

      State Income Tax (Low) Income Tax (High)
      Maine 5.8% 7.15%

      Goods & Services

      Item Bangor National avg. Difference
      Haircut $28.67$24.2618.2%
      Beauty Salon $53.03$45.5616.4%
      Toothpaste $3.69$3.700.3%
      Shampoo $1.17$1.288.9%
      Movie $13.07$12.137.7%
      Bowling $17.76$18.001.4%

      Groceries

      Item Bangor National avg. Difference
      Ground Beef $5.41$5.847.3%
      Fried Chicken $1.43$1.578.9%
      Milk $4.75$4.671.7%
      Potatoes $5.00$4.931.3%
      Pizza $11.93$12.091.3%
      Beer $10.22$10.411.9%

      Health Care

      Item Bangor National avg. Difference
      Optometrist $170.67$125.6835.8%
      Doctor $146.50$135.787.9%
      Dentist $119.58$113.295.6%
      Ibuprofen $10.72$10.650.7%
      Lipitor $372.90$468.6020.4%

      Housing

      Item Bangor National avg. Difference
      Home Price $155,200.00$184,700.0016.0%
      Avg. Mortgage Payment $2,456.69$2,346.694.7%
      Apartment Rent $834.00$949.0012.1%

      Transportation

      Item Bangor National avg. Difference
      Gasoline $3.52$3.461.7%
      Tire Balancing $76.01$59.9226.8%

      Utilities

      Item Bangor National avg. Difference
      All Electricity $218.65$193.9912.7%
      Phone $185.73$192.253.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Bucksport, ME2,879964.3%
      Milford, ME2,356963.6%
      Old Town, ME7,453982.3%
      Winterport, ME1,4501021.5%
      Brewer, ME9,0261022.3%
      Bangor, ME32,0291010.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ferry Pass, FL32,016963.7%
      Des Moines, WA31,98313535.5%
      Juneau, AK32,09914141.1%
      Kaysville, UT31,95712221.5%
      Weatherford, TX32,1101066.4%
      Bangor, ME32,0291010.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.