Cost of Living in Lewiston, ME

An Overview of Cost of Living in Lewiston, ME

Are you thinking about relocating, but curious about the potential cost of living in Lewiston? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Lewiston stands at 99, making it 1% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Lewiston closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Lewiston can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Lewiston Affordable?

Is Lewiston affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Lewiston, the median home price is 18.7% lower than the national average and monthly rent prices are 21.2% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Lewiston boasting a median household income of $42,969, 22.3% lower than the national average.

What Factors can Influence the Cost of Living in Lewiston?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Lewiston, the utilities index registers at 6.7% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Lewiston starts at 5.5% and the income tax rates start at 5.8%.

Where is the Data From?

The Lewiston cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.