Two Surprising Maine Cities Make Lowest Rent List

Maine is not exclusive to the housing shortage crisis. Two surprising Maine cities did make an affordable rent list.

WalletHub points out in their research that rents have gone up over 50% in the last 10 years, according to the Federal Reserve’s Consumer Price Index. That mirrors how home prices have gone up in the past decade. If only our income kept pace with the growing prices. They do not.

Maine has two cities in the top 100 for affordable rent

Of the 182 cities looked at for the most affordable, Maine had two make the list.

Lewiston showed up as the 36th most affordable city, with 20.24% of your income going to rent. That's not surprising, as it's north of the big city of Portland. But what was surprising is that Portland also made the top 100, coming in at 98. 23.43% of your income goes to rent in Portland, Maine.

READ MORE: Is It Just Me, or Are Mainers Less Patient and Meaner?

How did Lewiston and Portland, Maine, make the affordable rent list?

WalletHub analyzed the median annual gross rent in more than 180 cities, then compared it to the median household income. A WalletHub analyst, Chip Lupo, said in the report,

In the most affordable cities for renters, the median cost of rent is as low as 15% of the median income, compared to more than 33% in the most expensive cities. This gives people in the least expensive cities a clear financial advantage; the money they save on rent could go toward their emergency fund or savings for future home ownership.

This information is sadly not comforting, as it seems like rents in both Lewiston and Portland, Maine, are beyond reach for many. But when compared to other places like Miami, where they pay over a third of their income for rent, it does seem like a bargain. If you want a super bargain, the cheapest rent according to WalletHub is in Bismarck, North Dakota.