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Affordable
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These days, finding an affordable place to live in the Monhegan area can be challenging. Home prices in Monhegan are now at a median cost of $701,900, higher than the Maine average of $330,167.
The average cost of rent is $958/mo in Monhegan, primarily driven by the current value of real estate in the Monhegan area. In Monhegan, 16.33% of households rent, and 34.15% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monhegan is $8,383 per month. Households that rent pay about 11.43% of their income on rent here. Monhegan’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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