Steep Falls, ME
Population 1,720 · Maine
About Steep Falls, ME
Steep Falls is a small town located in Maine with a population of 1,720 residents according to the latest US Census Bureau American Community Survey data. The median household income is $68,125 per year, which is 9% below the national median of $75,149. The median age of 39.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Steep Falls features a median home value of $241,000, which is 2% below the national median of $244,900. This positions Steep Falls in a moderately priced market relative to the rest of the country. Median monthly rent is $974, 16% below the national average of $1,163/month. Of the 636 total housing units, 80% are owner-occupied (471 units) and 20% are renter-occupied (119 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Steep Falls shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 16.1%, above the national average of 12.4%. Workers in Steep Falls have an average one-way commute time of 30.7 minutes.
Education & Demographics
7.4% of Steep 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, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Steep Falls Ranks in Maine
Cost of Living in Steep Falls, ME
Compared to national averages, Steep Falls has a median household income of $68,125 (9% below the national median of $75,149). Home values average $241,000, which is 2% below the national median. Monthly rent at $974 is 16% below the US average of $1,163. Within Maine, Steep Falls's income is 5% above the state average of $64,613, and home values are 4% below the state median of $251,113.
Why Live in Steep Falls, ME?
Steep Falls offers affordable housing with a median home value of $241,000, below the US average of $244,900, and rent that’s lower than the national average at $974/month, and a strong job market with an unemployment rate of just 0.0%.
Potential considerations include median household income ($68,125) that falls below the national average. However, Steep Falls’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Steep Falls has a population of 1,720 with a median age of 39.3 years. Compare Steep Falls with other cities to see how it stacks up, or explore all cities in Maine.
Similar Cities Near Steep Falls
Cities in Maine with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dixfield | 1,770 | $56,250 | $147,900 | Compare |
| Bridgton | 1,666 | $58,992 | $239,200 | Compare |
| Fryeburg | 1,665 | $61,944 | $268,100 | Compare |
| Fort Fairfield | 1,632 | $46,654 | $145,800 | Compare |
| North Berwick | 1,811 | $54,612 | $296,300 | Compare |
| Wilton | 1,822 | $55,721 | $163,500 | Compare |
| Van Buren | 1,614 | $35,200 | $90,200 | Compare |
| Dexter | 1,840 | $51,667 | $153,200 | 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 Steep Falls With Other Cities
Frequently Asked Questions about Steep Falls
What is the population of Steep Falls, ME?
The population of Steep Falls, ME is 1,720 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 Steep Falls?
The median household income in Steep Falls, ME is $68,125 per year, which is 9% below the national median of $75,149.
What is the median home value in Steep Falls?
The median home value in Steep Falls, ME is $241,000, which is 2% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Steep Falls?
The median monthly rent in Steep Falls, ME is $974, which is 16% below the national average of $1,163/month.
What is the unemployment rate in Steep Falls?
The unemployment rate in Steep Falls, ME is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Steep Falls, ME a good place to live?
Steep Falls offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,720 and a median age of 39.3, the city appeals to a broad range of residents.
How educated is Steep Falls, ME?
7.4% of residents in Steep 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 Steep Falls?
Key cost-of-living indicators for Steep Falls, ME: median home value is $241,000 (2% below national), median rent is $974/month, and median household income is $68,125. The home-value-to-income ratio is 3.5x, a moderate figure by national standards.
What is the poverty rate in Steep Falls?
The poverty rate in Steep Falls, ME is 16.1%, 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 Steep Falls, ME?
Steep Falls's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.