How much house can I afford on $40,000 in Maine?
About $140,000 with 20% down ($112,000 with an FHA loan), using Maine's 0.92% property tax rate.
That is $271,603 less than the typical Maine home ($412,002), so on $40,000 you'd look at cheaper areas or a smaller home. The payment of $933 covers $756 principal and interest, $108 property tax and $70 insurance.
Counties in Maine you can afford on $40,000
On $40,000 the typical home is out of reach in every Maine county tracked by Zillow — the cheapest is Aroostook County at $168,572.
Assumes a 30-year fixed loan at 7.11%, property tax of 0.92% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Other salaries in Maine
Frequently asked questions
How much house can I afford on $40,000 in Maine?
About $140,000 with 20% down at 7.11%, keeping the payment (with Maine's 0.92% property tax and insurance) under $933 a month.
Is $40,000 enough to buy a house in Maine?
Not the typical home: the typical Maine home is worth $412,002 (Zillow, September 2026) and $40,000 supports about $140,000. 0 of 16 counties are within budget.