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City · 7,470 residents · Penobscot County, Maine

Old Town , Maine

In Old Town, a typical home is worth $208,100 and typical rent is $989 a month. Compared with all of Penobscot County, typical household income is 22% lower and the share of households that own their home is 11 points lower.

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  • Typical home value

    $208,100

    3% below the county

    30% below Maine

    • Old Town
    • Penobscot
    • Maine

  • Typical rent

    $989a month

    5% below the county

    13% below Maine

    • Old Town
    • Penobscot
    • Maine

  • Typical household income

    $51,585a year

    22% below the county

    31% below Maine

    • Old Town
    • Penobscot
    • Maine

  • Households that own their home

    59%

    11 points below the county

    15 points below Maine

    • Old Town
    • Penobscot
    • Maine

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$251,755
0.9% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Old Town is in Penobscot County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Penobscot County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Old Town apart

What this place has that others do not, from public data, most unusual first.

  1. The typical household income in Old Town is $51,585, 22% less than in Penobscot County as a whole ($66,356).

  2. 59% of households in Old Town own their home, against 71% in Penobscot County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Old Town

What homes there are in Old Town, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Old Town, but it weighs less than in Penobscot County: 60% against 64%.

Year built

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Penobscot County is $1,722; about 89% of rents in Old Town are below it.

With a mortgage

$1,564 a month

Penobscot County: $1,562 a month

Without a mortgage

$676 a month

Penobscot County: $575 a month

Owners with a mortgage

53%

Penobscot County: 54%

In Old Town, 53% of owners have a mortgage; their typical cost is $1,564 a month, about the same as in Penobscot County.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Old Town gained value faster than in Penobscot County: 53% against 48%.

Much as in Penobscot County, the typical rent in Old Town rose 30% since 2015–2019.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureOld TownPenobscot CountyMaineUnited States
Rental vacancy Unreliable estimate5.8%4.2%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.7%0.9%
More than one person per room Unreliable estimate1.7%1.4%3.4%
People per household 2.342.262.262.53
Drive alone 62%76%71%69%
Carpool 11%7%8%9%
Public transit Unreliable estimate0%1%3%
Walk or bike Unreliable estimate4%4%3%
Work from home Unreliable estimate11%16%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

By size, households in Old Town look like those in Penobscot County: 2.34 people on average.

Carpooling is common in Old Town: 11% of workers get to work that way, against 7% in Penobscot County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Old Town?

A typical home costs more than the typical income allows

We start with a typical home in Old Town, worth $208,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Old Town, which is $51,585 a year. For that payment to be 28% of income, a household would need to earn about $78,281 a year.

The calculator's FHA and conventional loan limits are those of all of Penobscot County.

Your numbers

Local data
$

Starts at the typical home value in Old Town. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $7,284 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,827

at 7.18% · 30 years

Loan amount
$204,330
Total interest
$293,983
Paid off in
November 2056

Includes $3,514 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,204 a month

  • Tight

    $1,204 to $1,548 a month

  • Hard

    more than $1,548 a month

    Your payment · 42%

Compared with the typical household income in Old Town ($51,585 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,827
Principal & interest$1,384
Property tax$264
Home insurance$87
FHA mortgage insurance (MIP)$92

You need at least $7,284 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Old Town and Penobscot County

Old Town is in Penobscot County, Maine. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Old Town's own numbers

Typical home value
$208,100
Typical monthly rent
$989
Typical yearly household income
$51,585
Households that own their home
59%
Effective property tax rate
1.52%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Penobscot County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,496–$1,722
Price change over 5 years (FHFA)
+68%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Penobscot County.

Everything about Penobscot County

Buying

Buying a home in Old Town

A typical home in Old Town is worth $208,100: 3% below the county and 30% below Maine. With the typical household income in Old Town ($51,585 a year), a typical home costs 4.0 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Old Town 4.0 years
  • Penobscot 3.2 years
  • Maine 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Penobscot County

According to FHFA’s house price index, home prices in Penobscot County rose 105% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Penobscot County.

Period County Maine U.S.
Last year (2025) +4.6% +4.7% +2.9%
5 years (2020–2025) +68% +68% +47%
10 years (2015–2025) +105% +112% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Old Town next to Penobscot County, Maine and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Old Town $208,100
  • Penobscot $214,100
  • Maine $296,600
  • United States $332,700
Typical monthly rent
  • Old Town $989
  • Penobscot $1,041
  • Maine $1,139
  • United States $1,413
Typical yearly household income
  • Old Town $51,585
  • Penobscot $66,356
  • Maine $74,733
  • United States $80,734
See the full table
Old Town next to Penobscot County and Maine
Measure Old Town Penobscot County Maine U.S.
Typical home value $208,100 $214,100 $296,600 $332,700
Typical monthly rent $989 $1,041 $1,139 $1,413
Typical yearly household income $51,585 $66,356 $74,733 $80,734
Households that own their home 59% 71% 74% 65%
Typical yearly property tax $3,153 $2,481 $3,036 $3,119
Effective property tax rate 1.52% 1.16% 1.02% 0.94%
Renters with high rent for their income 50% 50% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Penobscot County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Old Town

For a typical $208,100 home in Old Town, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Old Town's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,827a month

    Least cash to close
    Down payment
    $7,284
    Cash to close
    $13,527
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $92

  • Conventional, 5% down $1,788a month

    Down payment
    $10,405
    Cash to close
    $16,648
    Rate
    7.18%
    Mortgage insurance
    PMI · $99

  • Conventional, 20% down, no PMI $1,478a month

    Down payment
    $41,620
    Cash to close
    $47,863
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,670a month

    Down payment
    $31,215
    Cash to close
    $37,458
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Old Town and for Penobscot County.

Property tax

Effective rate in Old Town

1.52%of the home’s value each year

$3,153 a year for the typical owner in Old Town.

  • Old Town 1.52%
  • Penobscot 1.16%
  • Maine 1.02%

What Maine publishes Homestead exemption of up to $25,000 of value (Maine Revenue Services)

Exemptions and deadlines in Maine

Flood risk in Penobscot County

FEMA does not publish these numbers by city: they are for all of Penobscot County.

FEMA’s maps count no homes in the high-risk zone in Penobscot County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Old Town

Typical rent in Old Town is $989 a month: 5% below the county. In Old Town, 50% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for each area of Penobscot County; Old Town is in Bangor, ME HUD Metro FMR Area. To pay the 2-bedroom one ($1,722 a month) without spending more than 30% of your income, you would need to earn $33.12 an hour working full time.

Fair market rent by size in Bangor, ME HUD Metro FMR Area

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,305 $25.10 $52,200
1 bedroom $1,380 $26.54 $55,200
2 bedrooms $1,722 $33.12 $68,880
3 bedrooms $2,203 $42.37 $88,120
4 bedrooms $2,495 $47.98 $99,800

HUD splits this county into 2 areas with different fair market rents: for 2 bedrooms they run from $1,496 to $1,722. The table by area, below, shows which one each town is in.

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Fair market rent by HUD area in Penobscot County

HUD splits this county into 2 areas, each with its own fair market rent. Find your town in its area's list; the housing agency tells you which one it uses for your voucher.

HUD area Studio1 bd2 bd3 bd4 bdHourly wage, 2 bd
Bangor, ME HUD Metro FMR Area The area where most people liveOld Town is in this area
14 towns in this area

Bangor city, Brewer city, Eddington town, Glenburn town, Hampden town, Hermon town, Holden town, Kenduskeag town, Milford town, Old Town city, Orono town, Orrington town, Penobscot Indian Island Reservation, Veazie town

 $1,305$1,380$1,722$2,203$2,495$33.12
Penobscot County, ME (part) HUD Metro FMR Area
53 towns in this area

Alton town, Argyle UT, Bradford town, Bradley town, Burlington town, Carmel town, Carroll plantation, Charleston town, Chester town, Clifton town, Corinna town, Corinth town, Dexter town, Dixmont town, Drew UT, East Central Penobscot UT, East Millinocket town, Edinburg town, Enfield town, Etna town, Exeter town, Garland town, Greenbush town, Howland town, Hudson town, Kingman UT, Lagrange town, Lakeville town, Lee town, Levant town, Lincoln town, Lowell town, Mattawamkeag town, Maxfield town, Medway town, Millinocket town, Mount Chase town, Newburgh town, Newport town, North Penobscot UT, Passadumkeag town, Patten town, Plymouth town, Prentiss UT, Seboeis plantation, Springfield town, Stacyville town, Stetson town, Twombly UT, Webster plantation, Whitney UT, Winn town, Woodville town

 $1,042$1,144$1,496$2,039$2,096$28.77

HUD fair market rent by area and size, per month, Fiscal year 2027. The wage is what full-time work must pay to rent 2 bedrooms without spending more than 30% of income. Source: HUD, Fiscal year 2027 Source: Fair Market Rents (HUD) Fiscal year 2027 Fair Market Rents (HUD)

By ZIP code

Fair market rent by ZIP code in Old Town

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Old Town has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,760 in 04468 to $2,350 in 04489.

  • 04468 $1,760$2,350
  • 04468 $1,760$2,350
  • 04489 $2,350$3,010

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Old Town when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Old Town

HUD lists 8 buildings with rents for lower incomes in Old Town. These are the largest.

  • Marsh Island Apts 345 Main St, Old Town 04468 87 homes, 86 low-income · Run by Old Town Housing Authority · Average payment: $606 a month · Average wait: 11 months (207) 827-6151
  • Penobscot River House 449 Main St, Old Town 04468 80 low-income homes · For older adults
  • Penobscot Terrace 352 Main St, Old Town 04468 41 low-income homes · For older adults
  • Lincoln Green 11 Abbott St, Old Town 30 low-income homes · 2 bd: 16 · 3 bd: 12 · 4 bd: 2 · In service since 2015 · For families
  • Lincoln Green 65 Shelter Ln, Old Town 04468 30 low-income homes · For families

See all 67 buildings in Penobscot County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Old Town

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 2 HUD-approved agencies with an office in Penobscot County; none says it serves in Spanish.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Old Town

No down payment, repair or rent-help program on our list is for Old Town or Penobscot County. The ones below are statewide in Maine: they work in Old Town the same as in the rest of the state.

Which programs do I qualify for? All programs in Maine

  • First Home Loan Program — Advantage

    Statewide in Maine

    With the Maine state agency's First Home mortgage, the buyer gets $5,000 for the down payment and closing costs (up to $14,000 for 2- to 4-unit homes), with no second mortgage. Offered by MaineHousing.

    Grant

    See the program Official page

  • First Generation Program

    Statewide in Maine

    Maine state agency mortgage with a rate 1% lower than its First Home mortgage and a $10,000 grant for the down payment and closing costs, with no second mortgage; for people who have never owned a home and never lived in a home their parents or guardians owned, or who were in foster care. Offered by MaineHousing.

    Grant

    See the program Official page

Housing counselors near Old Town

The HUD-approved agencies closest to the center of Old Town, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Four Directions Development Corporation

    20 Godfrey Dr, Orono · 5 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 4 more
    (207) 866-6545

  • Penquis Community Action Program

    262 Harlow St, Bangor · 10 miles away

    • Mortgage delinquency and default
    • Pre-purchase counseling
    • and 1 more
    (207) 973-3500

  • Waldo Community Action Partners

    9 Field St Ste 201, Belfast · 39 miles away

    • Mortgage delinquency and default
    • Pre-purchase counseling
    • and 2 more
    (207) 338-6809

Every agency in Penobscot County All counseling agencies in Maine

Help in Spanish near Old Town

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Old Town

HUD’s record names them for Old Town or Penobscot County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Old Town Housing Authority Public housing and Section 8 vouchers (207) 827-6151

2 other authorities have an office in Penobscot County: see the list Source: HUD

Cities

Other cities in Penobscot County

These cities are also in Penobscot County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Penobscot County Housing in Maine

Nearby cities

The cities closest to Old Town, with the typical home value.

Neighboring counties

If Penobscot County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Old Town.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Old Town

Short answers with the numbers for Old Town and all of Penobscot County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Old Town?

The typical home value in Old Town is $208,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Penobscot County it is $214,100.

How much does it cost to rent in Old Town?

Typical rent in Old Town is $989 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Penobscot County is $1,496–$1,722.

What is the FHA loan limit in Old Town?

Old Town uses the FHA limit for all of Penobscot County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Old Town?

The typical homeowner in Old Town pays $3,153 a year, according to the U.S. Census Bureau. That is 1.52% of the home’s value; in Penobscot County, the rate is 1.16%.

Where can I find free help to buy or rent in Old Town?

There are 2 HUD-approved counseling agencies with an office in Penobscot County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).