Falmouth, ME
Population 1,447 · Maine
About Falmouth, ME
Falmouth is a small town located in Maine with a population of 1,447 residents according to the latest US Census Bureau American Community Survey data. The median household income is $89,625 per year, which is 19% above the national median of $75,149. The median age of 62.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Falmouth features a median home value of $737,300, which is 201% above the national median of $244,900. This places Falmouth in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,441, 24% above the national average of $1,163/month. Of the 800 total housing units, 68% are owner-occupied (506 units) and 32% are renter-occupied (240 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Falmouth shows an unemployment rate of 4.1%, which is near the national rate of 3.7%. The poverty rate stands at 4.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Falmouth have an average one-way commute time of 17.7 minutes, one of the shorter commutes in the region.
Education & Demographics
64.8% of Falmouth residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.0% White, 1.2% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 4.7% of the population being foreign-born.
How Falmouth Ranks in Maine
Cost of Living in Falmouth, ME
Compared to national averages, Falmouth has a median household income of $89,625 (19% above the national median of $75,149). Home values average $737,300, which is 201% above the national median. Monthly rent at $1,441 is 24% above the US average of $1,163. Within Maine, Falmouth's income is 39% above the state average of $64,613, and home values are 194% above the state median of $251,113.
Why Live in Falmouth, ME?
Falmouth offers a strong local economy with a median household income of $89,625, well above the national average, and a well-educated community where 64.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 4.6%, better than the national average. Additionally, the city features short commute times averaging just 17.7 minutes.
Potential considerations include a competitive housing market where the typical home costs $737,300. However, Falmouth’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Falmouth has a population of 1,447 with a median age of 62.3 years. Compare Falmouth with other cities to see how it stacks up, or explore all cities in Maine.
Similar Cities Near Falmouth
Cities in Maine with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Milo | 1,445 | $52,660 | $88,000 | Compare |
| Kennebunkport | 1,450 | $118,922 | $805,200 | Compare |
| Newport | 1,469 | $42,740 | $162,800 | Compare |
| Randolph | 1,479 | $52,917 | $157,000 | Compare |
| Waldoboro | 1,487 | $66,290 | $277,200 | Compare |
| Machias | 1,395 | $28,047 | $117,800 | Compare |
| West Kennebunk | 1,367 | $101,761 | $514,700 | Compare |
| Freeport | 1,544 | $48,352 | $344,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Maine
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Falmouth With Other Cities
Frequently Asked Questions about Falmouth
What is the population of Falmouth, ME?
The population of Falmouth, ME is 1,447 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Maine.
What is the median household income in Falmouth?
The median household income in Falmouth, ME is $89,625 per year, which is 19% above the national median of $75,149.
What is the median home value in Falmouth?
The median home value in Falmouth, ME is $737,300, which is 201% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Falmouth?
The median monthly rent in Falmouth, ME is $1,441, which is 24% above the national average of $1,163/month.
What is the unemployment rate in Falmouth?
The unemployment rate in Falmouth, ME is 4.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Falmouth, ME a good place to live?
Falmouth offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 1,447 and a median age of 62.3, the city appeals to established professionals and retirees.
How educated is Falmouth, ME?
64.8% of residents in Falmouth aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Falmouth?
Key cost-of-living indicators for Falmouth, ME: median home value is $737,300 (201% above national), median rent is $1,441/month, and median household income is $89,625. The home-value-to-income ratio is 8.2x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Falmouth?
The poverty rate in Falmouth, ME is 4.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Falmouth, ME?
Falmouth's population is 0.0% White, 1.2% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.0% two or more races. 4.7% of residents are foreign-born.