Old Town, ME
Population 7,439 · Maine
About Old Town, ME
Old Town is a small town located in Maine with a population of 7,439 residents according to the latest US Census Bureau American Community Survey data. The median household income is $49,329 per year, which is 34% below the national median of $75,149. The median age of 37.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Old Town features a median home value of $183,200, which is 25% below the national median of $244,900. This positions Old Town in a moderately priced market relative to the rest of the country. Median monthly rent is $1,014, 13% below the national average of $1,163/month. Of the 3,797 total housing units, 58% are owner-occupied (1,904 units) and 42% are renter-occupied (1,352 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Old Town shows an unemployment rate of 2.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 21.3%, above the national average of 12.4%. Workers in Old Town have an average one-way commute time of 19 minutes, one of the shorter commutes in the region.
Education & Demographics
38.3% of Old Town residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.2% White, 4.0% Hispanic or Latino, 0.6% Black or African American, and 0.0% Asian residents, with 1.6% of the population being foreign-born.
How Old Town Ranks in Maine
Cost of Living in Old Town, ME
Compared to national averages, Old Town has a median household income of $49,329 (34% below the national median of $75,149). Home values average $183,200, which is 25% below the national median. Monthly rent at $1,014 is 13% below the US average of $1,163. Within Maine, Old Town's income is 24% below the state average of $64,613, and home values are 27% below the state median of $251,113.
Why Live in Old Town, ME?
Old Town offers affordable housing with a median home value of $183,200, below the US average of $244,900, and rent that’s lower than the national average at $1,014/month, and a strong job market with an unemployment rate of just 2.3%. Additionally, the city features a well-educated community where 38.3% of residents hold a bachelor’s degree or higher, and short commute times averaging just 19 minutes.
Potential considerations include median household income ($49,329) that falls below the national average. However, Old Town’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Old Town has a population of 7,439 with a median age of 37.5 years. Compare Old Town with other cities to see how it stacks up, or explore all cities in Maine.
Similar Cities Near Old Town
Cities in Maine with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Caribou | 7,427 | $54,271 | $120,300 | Compare |
| Gorham | 7,365 | $125,058 | $459,000 | Compare |
| Rockland | 6,991 | $55,276 | $234,400 | Compare |
| Belfast | 6,985 | $61,322 | $307,700 | Compare |
| Topsham | 6,962 | $80,545 | $341,800 | Compare |
| Skowhegan | 6,638 | $46,625 | $138,600 | Compare |
| Ellsworth | 8,550 | $70,990 | $214,500 | Compare |
| Yarmouth | 6,293 | $92,311 | $506,300 | 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 Old Town With Other Cities
Frequently Asked Questions about Old Town
What is the population of Old Town, ME?
The population of Old Town, ME is 7,439 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 Old Town?
The median household income in Old Town, ME is $49,329 per year, which is 34% below the national median of $75,149.
What is the median home value in Old Town?
The median home value in Old Town, ME is $183,200, which is 25% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Old Town?
The median monthly rent in Old Town, ME is $1,014, which is 13% below the national average of $1,163/month.
What is the unemployment rate in Old Town?
The unemployment rate in Old Town, ME is 2.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Old Town, ME a good place to live?
Old Town offers a moderate cost of living, affordable housing, and a strong job market. With a population of 7,439 and a median age of 37.5, the city appeals to a broad range of residents.
How educated is Old Town, ME?
38.3% of residents in Old Town 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 Old Town?
Key cost-of-living indicators for Old Town, ME: median home value is $183,200 (25% below national), median rent is $1,014/month, and median household income is $49,329. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Old Town?
The poverty rate in Old Town, ME is 21.3%, 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 Old Town, ME?
Old Town's population is 1.2% White, 4.0% Hispanic or Latino, 0.6% Black or African American, 0.0% Asian, and 0.7% two or more races. 1.6% of residents are foreign-born.