Affordable

What Salary Do You Need to Live in Boothbay Harbor?

To afford a 2-bedroom in Boothbay Harbor, you need to earn at least $28,400/year based on estimated fair market rent data. The median household income here is $65,795, which means the typical resident is $37,395 above the threshold.

Census ACS Data Pop. 982

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$497	$1,657	$19,880	$-45,915
1 Bedroom	$589	$1,963	$23,560	$-42,235
2 Bedroom BENCHMARK	$710	$2,367	$28,400	$-37,395
3 Bedroom	$866	$2,887	$34,640	$-31,155
4 Bedroom	$1,065	$3,550	$42,600	$-23,195

Affordability Breakdown

Where the required salary line crosses above Boothbay Harbor's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$65,795

Annual household

2BR Required Salary

$28,400

Under 30% rule

Income Gap

+$37,395

Surplus

Verdict

Affordable

Ratio: 12.9%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Boothbay Harbor

Your Annual Salary

Pre-filled with Boothbay Harbor's median household income

Max monthly rent you can afford$1,645

Studio

$497/mo

1 BR

$589/mo

2 BR

$710/mo

3 BR

$866/mo

4 BR

$1,065/mo

Your salary is $0 above the median income in Boothbay Harbor.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Boothbay Harbor's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Boothbay Harbor

Boothbay Harbor, Maine stands out as one of the more financially accessible housing markets in the state. The median household income of $65,795 significantly exceeds the $28,400 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $37,395 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Boothbay Harbor, a studio at $497/month offers an even more aggressive savings rate. Even a 3-bedroom at $866/month remains accessible for dual-income households earning above $34,640.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $42,600 would position you well — though many residents in Boothbay Harbor manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Boothbay Harbor, Maine.

With a total population of 982, the city supports an active civilian workforce of 485 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $28,400 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

485

Active civilian employees in Boothbay Harbor

Frequently Asked Questions About Renting in Boothbay Harbor

What salary do I need to live in Boothbay Harbor, Maine?

To afford a 2-bedroom in Boothbay Harbor under the 30% rule, you need an annual salary of at least $28,400. The median household income in Boothbay Harbor is $65,795.

Can I afford a 2-bedroom in Boothbay Harbor on $65,795?

The affordability verdict for Boothbay Harbor is "Affordable". The rent-to-income ratio is 12.9%, meaning median earners have a $37,395 surplus.

What is the average rent in Boothbay Harbor compared to median income?

The median gross rent in Boothbay Harbor is $589/month. With a median household income of $65,795, residents spend approximately 12.9% of their income on rent.

What salary do I need for a studio in Boothbay Harbor?

A studio in Boothbay Harbor rents for approximately $497/month. Under the 30% rule, you need an annual salary of $19,880 to afford this.

Is Boothbay Harbor considered an affordable place to live?

Based on the surplus of $37,395 and an affordability verdict of "Affordable", Boothbay Harbor is considered a affordable rental market when comparing the required 2-bedroom salary of $28,400 to the local median household income.

How Boothbay Harbor Compares

Other cities in Maine with salary requirements