Saco, Brewer, Hallowell: These cities aren’t just some of the best places to live in Maine. They are also home to some of the richest people in the Pine Tree State.
Saco in particular houses the richest residents in the state thanks, in part, to a median household income of $59,740 and a ridiculously low poverty rate of 7.6%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Maine share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 21 places in Maine with more than 2,000 people.
At the end of the day, here’s the set of the 10 richest places in Maine for 2018:
- Saco (Photos | Homes For Sale)
- Brewer (Photos | Homes For Sale)
- Hallowell (Photos | Homes For Sale)
- South Portland (Photos | Homes For Sale)
- Auburn (Photos | Homes For Sale)
- Ellsworth (Photos | Homes For Sale)
- Portland (Photos | Homes For Sale)
- Gardiner (Photos | Homes For Sale)
- Biddeford (Photos | Homes For Sale)
- Bath (Photos | Homes For Sale)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Maine.
How We Determined The Richest Places In Maine For 2018
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places”. So we looked at this set of criteria from the newly released 2012-2016 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 21 places with more than 2,000 people in Maine, we ranked each place from 1 to 21 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score” with the place having the lowest overall Rich Score, Saco, crowned the “Richest Place In Maine For 2018”.
You can learn more about the top ten below or skip to the end to see the rankings for all 21 places.
Population: 19,008Median Income: $59,740
Unemployment Rate: 2.8%
Poverty Rate: 7.6%
More on Saco: Homes For Sale | Data
Saco /sko/ is a city in York County, Maine, United States. The population was 18,482 at the 2010 census. It is home to Ferry Beach State Park, Funtown Splashtown USA, Thornton Academy, as well as General Dynamics Armament Systems (also known by its former name, Saco Defense), a subsidiary of the defense contractor General Dynamics. Saco sees much tourism during summer months, due to its amusement parks, Ferry Beach State Park, and proximity to Old Orchard Beach.
4. South Portland
Population: 25,397Median Income: $56,250
Unemployment Rate: 6.2%
Poverty Rate: 12.3%
More on South Portland: Homes For Sale | Data
South Portland is a city in Cumberland County, Maine, United States, and is the fourth-largest city in the state, incorporated in 1898. As of the 2010 census, the city population was 25,002. Known for its working waterfront, South Portland is situated on Portland Harbor and overlooks the skyline of Portland and the islands of Casco Bay. Due to South Portland’s close proximity to air, marine, rail, and highway transportation options, the city has become a center for retail and industry in the region.
Population: 22,943Median Income: $46,976
Unemployment Rate: 5.5%
Poverty Rate: 14.8%
More on Auburn: Homes For Sale | Data
Auburn is a city in and the county seat of Androscoggin County, Maine, United States. The population was 23,055 at the 2010 census. Auburn and Lewiston (directly across the Androscoggin River from each other) are known locally as the Twin Cities or Lewiston–Auburn (L–A).
Population: 7,879Median Income: $51,250
Unemployment Rate: 6.7%
Poverty Rate: 12.6%
More on Ellsworth: Homes For Sale | Data
Ellsworth is a city in and the county seat of Hancock County, Maine, United States. The 2010 Census determined it had a population of 7,741. Ellsworth was Maine’s fastest growing city from 2000–2010, with a growth rate of nearly 20 percent. With historic buildings and other points of interest, Ellsworth is popular with tourists.
Population: 66,649Median Income: $48,259
Unemployment Rate: 5.7%
Poverty Rate: 19.2%
More on Portland: Homes For Sale | Data
Portland is the most populous city in the U.S. state of Maine, with a population of 66,937 as of 2016. This makes it the fourth least populous city in the U.S. to be the most populous in its state. The Greater Portland metropolitan area is home to over half a million people, more than one-third of Maine’s total population. The Old Port district is frequented by tourists, while Portland Head Light is also a destination. The city seal depicts a phoenix rising from ashes, which is a reference to the recoveries from four devastating fires. Portland was named after the English Isle of Portland, and the city of Portland, Oregon, was in turn named after Portland, Maine.
Population: 5,670Median Income: $49,569
Unemployment Rate: 5.7%
Poverty Rate: 19.8%
More on Gardiner: Homes For Sale | Data
Gardiner is a city in Kennebec County, Maine, United States. The population was 5,800 at the 2010 census. Popular with tourists, Gardiner is noted for its culture and old architecture. Gardiner is included in the Augusta, Maine micropolitan New England City and Town Area.
Population: 21,341Median Income: $47,265
Unemployment Rate: 5.8%
Poverty Rate: 18.1%
More on Biddeford: Homes For Sale | Data
Biddeford is a city in York County, Maine, United States. It is the principal commercial center of York County. The population was 21,277 at the 2010 census. Twin city of Saco, Biddeford includes the resort community of Biddeford Pool, Fortunes Rocks and Granite Point. The town is the site of the University of New England and the annual La Kermesse Franco-Americaine Festival. First visited by Europeans in 1616, it is the site of one of the earliest European settlements in the United States.
Population: 8,334Median Income: $42,275
Unemployment Rate: 5.3%
Poverty Rate: 19.9%
More on Bath: Homes For Sale | Data
Bath is a city in Sagadahoc County, Maine, in the United States. The population was 8,514 at the 2010 census, and 8,357 as of 2013, the population has had a change of -10.2% since 2000. It is the county seat of Sagadahoc County, which includes one city and 10 towns. The city is popular with tourists, many drawn by its 19th-century architecture. It is home to the Bath Iron Works and Heritage Days Festival, held annually on the Fourth of July weekend. It is commonly known as “The City of Ships.” Bath is part of the metropolitan statistical area of Greater Portland.
There You Have It – The Wealthiest Places In Maine For 2018
Like we said earlier, when we set out to identify the richest places in Maine, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Maine.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Maine, according to data:
2nd Poorest: Old Town
3rd Poorest: Bangor
For more Maine reading, check out:
Detailed List Of The Richest Cities In Maine