Can You Afford to Buy a Home in Lewiston-Auburn?
The median home in Lewiston-Auburn costs $232,000. To afford it at current mortgage rates with 20% down, you need a household income of about $65,614/year. Your monthly payment would be around $1,531, including taxes and insurance.
Based on national median home values adjusted by Lewiston-Auburn’s Regional Price Parity (94.74). Current 30-year fixed rate: 6.52% (Freddie Mac, as of Jun 11, 2026). Methodology
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Monthly payment breakdown
$232,000 home, 20% down, 6.52% rate, 30-year fixed
Rent vs. buy in Lewiston-Auburn
Buying is actually cheaper than renting here by $55/mo, and you build equity. Strong signal to explore homeownership.
What can you afford in Lewiston-Auburn?
Home price you can afford at each salary level (28% DTI, 20% down)
| Salary | Home you can afford | Monthly payment |
|---|---|---|
| $50K | $160K | $1,531 |
| $75K | $275K | $1,531 |
| $100K | $390K | $1,531 |
| $125K | $506K | $1,531 |
| $150K | $621K | $1,531 |
| $200K | $851K | $1,531 |
Based on 28% front-end DTI ratio, 20% down payment, 6.52% 30-year fixed rate, 1.1% property tax, ~$150/mo insurance.
Can common careers afford a home in Lewiston-Auburn?
Local median salary vs. the $66K needed to buy
Frequently asked questions
What salary do I need to buy a home in Lewiston-Auburn?
To comfortably afford the median home ($232,000) in Lewiston-Auburn with a 20% down payment and current mortgage rates, you need a household income of about $65,614. That keeps your housing costs at or below 28% of your gross income, which is the standard lender guideline.
How much does a house cost in Lewiston-Auburn?
The median home price in the Lewiston-Auburn, ME metro area is $232,000, based on the Census ACS 2023 median home value for the metro. Prices vary widely by neighborhood. A 20% down payment would be $46,400, or $11,600 at 5% down.
What would my monthly mortgage be in Lewiston-Auburn?
On a $232,000 home with 20% down at current rates, your estimated monthly payment would be $1,531 including principal, interest, property tax, and insurance. With only 5% down, add about $92/mo for PMI.
Is it cheaper to rent or buy in Lewiston-Auburn?
Median 2-bedroom rent in Lewiston-Auburn is $1,586/mo (HUD Fair Market Rent). The estimated mortgage payment on the median home is $1,531/mo. Buying and renting are close in monthly cost, but buying builds equity.