Island Falls, ME
Population 343 · Maine
About Island Falls, ME
Island Falls is a small community located in Maine with a population of 343 residents according to the latest US Census Bureau American Community Survey data. The median household income is $53,523 per year, which is 29% below the national median of $75,149. The median age of 52.8 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 Island Falls features a median home value of $64,200, which is 74% below the national median of $244,900. This makes Island Falls one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 193 total housing units, 91% are owner-occupied (141 units) and 9% are renter-occupied (14 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Island Falls shows an unemployment rate of 10.4%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 20.4%, above the national average of 12.4%. Workers in Island Falls have an average one-way commute time of 21.1 minutes.
Education & Demographics
16.8% of Island Falls residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 8.7% Hispanic or Latino, 3.5% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Island Falls Ranks in Maine
Cost of Living in Island Falls, ME
Compared to national averages, Island Falls has a median household income of $53,523 (29% below the national median of $75,149). Home values average $64,200, which is 74% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Maine, Island Falls's income is 17% below the state average of $64,613, and home values are 74% below the state median of $251,113.
Why Live in Island Falls, ME?
Island Falls offers affordable housing with a median home value of $64,200, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and short commute times averaging just 21.1 minutes.
Potential considerations include median household income ($53,523) that falls below the national average. However, Island Falls’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Island Falls has a population of 343 with a median age of 52.8 years. Compare Island Falls with other cities to see how it stacks up, or explore all cities in Maine.
Similar Cities Near Island Falls
Cities in Maine with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Standish | 344 | $0 | $373,100 | Compare |
| Winter Harbor | 321 | $54,063 | $198,700 | Compare |
| Lubec | 320 | $43,750 | $204,100 | Compare |
| Unity | 320 | $25,795 | $156,500 | Compare |
| Eagle Lake | 378 | $36,806 | $102,800 | Compare |
| Milbridge | 394 | $0 | $216,700 | Compare |
| Northeast Harbor | 410 | $102,500 | $604,200 | Compare |
| North Anson | 420 | $39,125 | $0 | 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 Island Falls With Other Cities
Frequently Asked Questions about Island Falls
What is the population of Island Falls, ME?
The population of Island Falls, ME is 343 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Maine.
What is the median household income in Island Falls?
The median household income in Island Falls, ME is $53,523 per year, which is 29% below the national median of $75,149.
What is the median home value in Island Falls?
The median home value in Island Falls, ME is $64,200, which is 74% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Island Falls?
The median monthly rent in Island Falls, ME is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Island Falls?
The unemployment rate in Island Falls, ME is 10.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Island Falls, ME a good place to live?
Island Falls offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 343 and a median age of 52.8, the city appeals to established professionals and retirees.
How educated is Island Falls, ME?
16.8% of residents in Island Falls aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Island Falls?
Key cost-of-living indicators for Island Falls, ME: median home value is $64,200 (74% below national), median rent is $0/month, and median household income is $53,523. The home-value-to-income ratio is 1.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Island Falls?
The poverty rate in Island Falls, ME is 20.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Island Falls, ME?
Island Falls's population is 0.0% White, 8.7% Hispanic or Latino, 3.5% Black or African American, 0.0% Asian, and 1.7% two or more races. 0.0% of residents are foreign-born.