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Peaks Island, ME Utility & Living Guide
Peaks Island is the most populous island in Casco Bay, Maine, and the second largest by land area among islands under the municipal jurisdiction of Portland. About three miles (4.8 km) from downtown, the island is served by Casco Bay Lines and has its own elementary school, library, and police stati
Monthly Utility Costs
$150/mo
—
$50/mo
$30/mo
$70/mo
Housing Market
| Rent & Property | |
|---|---|
| 1 Bedroom | $1400/mo |
| 2 Bedrooms | $1800/mo |
| 3 Bedrooms | $2400/mo |
| Median Home Price | $380,000 |
| Property Tax Rate | 1.35% |
| Avg Childcare/mo | $1200 |
The housing market on Peaks Island is competitive, with a mix of older and newer homes, and a strong demand for rentals. Prices have been rising in recent years, but there are still affordable options available. The island’s small size and limited inventory can make it challenging to find the perfect home
Cost of Living
110
+10% above national average
105
90
102
$1200
Tax Rates
| Tax Overview | |
|---|---|
| Total Sales Tax | 5.5% |
| Property Tax Rate | 1.35% |
| <p>State 5.5% + no county or city tax</p> | |
Maine has a state income tax rate of 5.2% to 7.95%, with deductions and credits available
Family & Relocation
60
7.5/10
$1200/mo
City Pulse
The island has a limited public transportation system, but it is relatively stroller-friendly, with accessible sidewalks and bike paths
- Peaks Island Elementary School
- Fifth Maine Museum
- Peaks Island Community Center
Best Neighborhoods for Families
Household Budget Calculator
Estimate your real monthly cost of living in Peaks Island based on your household profile.
📰 Live Local News
Peaks Island has regulations regarding zoning, building permits, and environmental protection
Financial Tools
- Income Tax CalculatorEstimate take-home pay by state
- Mortgage CalculatorMonthly payment estimator
- Affordability CalculatorHow much home can you afford?
- Childcare Cost EstimatorCompare daycare costs by city
- Retirement PlannerRetirement readiness check
- Car Lease CalculatorMonthly lease payment estimator
- Savings CalculatorGrow your emergency fund
- City Comparison ToolCompare cities side by side
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📊 Peaks Island — Census & Demographic Data
Official data from the US Census Bureau, American Community Survey.
☀️ Seasonal Utility Costs
Utility costs on Peaks Island can fluctuate significantly by season, with higher electricity bills in the summer due to air conditioning usage, and higher heating oil bills in the winter. However, the island's mild climate means that these fluctuations are relatively moderate compared to other parts of the country
🏛️ Local Tax Details
The ZIP code 04108 has a property tax millage rate of 18.50, with no local surtaxes
👶 Family & Stroller Friendliness
8/10, with wide sidewalks, accessible parks, and relatively flat terrain, making it easy to navigate with a stroller, although some areas may have limited elevator access in transit
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