Is Maine a Good Place to Retire?
If you enjoy the outdoors and a slower pace of life, Maine might be the spot for you. The New England state shines in the fall, with gorgeous foliage, but the coastline, mountains, and forests offer stunning, calming views throughout the year.
In this article, we’ll go over the pros and cons of retiring in Maine as well as give you more details about affordability and healthcare access, so you can decide if Maine might be the ideal location for you to enjoy your retirement.
Key Takeaways
Maine has a higher cost of living, and housing can be more expensive.
The scenery in Maine is gorgeous, making it a good fit for people who enjoy the outdoors.
Maine can get crowded during the tourist season.
What to expect from retiring in Maine
Maine experiences all four seasons. While winters can be cold and snowy in Maine, summers are often milder and can be less humid than other coastal areas. Maine is especially gorgeous in the fall, and you can attend one of Maine’s fall agricultural fairs, farmers’ markets, or apple orchards to enjoy the season.
Maine is famous for seafood, so it’s common to see restaurants highlighting these delicacies. But, Maine also has a strong farm-to-table culture, combining fresh ingredients to offer creative flavors.
If you enjoy the water, Maine has 3,500 miles of coastline (which is more than California!). Quaint towns line this coastline, where activities like fishing and boating are popular. You can even take a boat tour to view Maine’s iconic lighthouses.
The pros and cons of retiring in Maine
Now that you have a picture of what retiring in Maine might look like, let’s go into more detail with some specific pros and cons about retiring in the state.
Pros:
Maine offers several opportunities for outdoor recreation, including hiking, boating, golfing, and skiing.
The scenery in Maine is beautiful, from the rugged coastline to the forests and mountains inland.
Maine offers plenty of fresh seafood, including iconic Maine lobster.
There are plenty of cultural activities, including museums, art, and festivals.
Cons:
Maine has a higher cost of living than the national average.
Property taxes can be high, and housing prices can be especially high in popular areas.
Because Maine is popular with tourists, it can get crowded at certain times of the year.
How retirement taxes work in Maine
While Maine does offer some retirement income savings, property taxes are high.
No Social Security tax: Social Security is not taxed in Maine. However, other types of retirement income are.
Retirement income deductions: Maine does offer a retirement income deduction. For the 2024 tax year, this amount was $45,864.
Property Tax Stabilization Program: For individuals aged 65 or older, Maine offers a program that allows property tax rates to be frozen.
Estate and inheritance taxes: Estates that are valued at more than $7 million are subject to estate taxes. These range from 8% to 12%. There are no inheritance taxes in Maine.
Property taxes: The average effective property tax rate in Maine is 1.17%. The median annual payment is $2,855.
Is it expensive to live in Maine?
Housing and cost of living in Maine
Like housing, the cost of utilities in Maine is higher than the national average. Just over half of the homes in Maine use oil for heating, which can be more expensive. Grocery prices in Maine are also slightly above average.
The sales tax in Maine is a flat rate of 5.5%. Groceries are exempt from sales tax.
How does retiring in Maine compare to retiring in New Hampshire or Vermont?
One of the primary attractions of retiring in Maine over New Hampshire and Vermont is the extensive access to the coast. Summers can also be more manageable in Maine in the areas along the coast due to the cooler breeze that you can get off the water.
While New Hampshire offers the most tax savings for seniors, healthcare access tends to be easiest in Maine. Retirees also love the arts and culture that Maine offers.
Best places to retire in Maine
Although Maine is slightly more expensive, it offers a mix of higher-end homes and more affordable properties. Some of the more luxurious cities to retire in include:
Kennebunkport: Kennebunkport is one of Maine’s most popular destinations thanks to its beautiful beaches, fresh seafood, and historic charm. Waterfront estates and historic homes are available, and there’s plenty to do, from browsing local art galleries and shops to enjoying a fine dining meal.
Camden: Known as the “Jewel of the Coast”, Camden offers gorgeous views of both the mountains and the ocean. It has a small-town feel, with vibrant culture.
Brunswick: Located on the coast, Brunswick caters to a laid-back lifestyle. Home to Bowdoin College, Brunswick’s downtown is walkable, with a variety of restaurants and small shops.
If you’re on a budget, there are some more affordable places to call home that still offer Maine’s relaxed lifestyle. These include:
Lewiston: Lewiston is Maine’s second-largest city. Its close proximity to the Androscoggin River provides beautiful views and the opportunity to enjoy outdoor activities.
Bangor: A mid-sized city, housing costs in Bangor are below the national average. The city is walkable, with plenty of shops to explore.
Belfast: For those who want the coastal experience at a more affordable price, Belfast is a good choice. The city is on Penobscot Bay, and there’s lots to do, including exploring restaurants and the local farmer’s market.
Retirement communities in Maine
If you’re looking for an active community with easy access to activities, delicious meals, and socializing, then you might consider a retirement community. While there are 139 senior living communities in Maine, here are some popular options:
Thornton Oaks: Thornton Oaks’ apartments and cottages are nestled within 29 acres of walking trails through forests and community gardens. You can enjoy meals prepared by the culinary team, featuring fresh seafood, veggies from local farmers’ markets, and herbs picked straight from the garden. The community at Thornton Oaks is active, with activities like bocce, book clubs, and floral design classes.
OceanView at Falmouth: Located near Portland, OceanView offers an indoor pool, fitness center, and nature trails. There are several options for dining, including Sunday brunch in their Main Lodge Dining Room, the cafe for quick lunches, and the Whipple Farmhouse for seasonally inspired meals. Assisted living and memory care are available.
Piper Shores: With gorgeous ocean views, Piper Shores is located near Portland, so there’s easy access to the amenities of the city. But, there’s lots to enjoy at Piper Shores as well, including relaxing by the outdoor fire pit, woodworking in the shop, gardening in the community garden, or watching your dog play in the dog park. There’s a more upscale dining room, but there’s also a cafe if you’re looking for something more casual. Piper Shores offers lifecare, meaning that skilled nursing care, assisted living, and memory care are also available.
Senior health in Maine
Maine is ranked as the 12th healthiest state in America’s Health Rankings’ Senior Report. Access to quality healthcare in Maine is generally good, but it can be a bit more difficult for those living in more rural areas.
Chronic respiratory diseases, like COPD (chronic obstructive pulmonary disease) and asthma, tend to be more common in Maine residents. Because these conditions can become worse in colder weather, Maine might not be the best choice for you if you deal with these conditions.
Cold, damp winters can also aggravate arthritis and joint pain. If you struggle with joint pain, then a warmer climate might be more appealing.
Quality of healthcare in Maine
Maine regularly ranks above the national average for healthcare quality. In the urban and coastal areas, it's easy to access quality healthcare facilities like Maine Medical Center, Northern Light Mercy Hospital, and Central Maine Medical Center. Specialized care is also easy to access in these areas.
The Maine Access Navigator Tool can help seniors access services like food and nutrition, chronic disease management, fall prevention classes, assistive technology, and affordable fitness classes.
Medicare in Maine
There are about 379,000 Medicare beneficiaries in Maine, which is about 27% of the state’s population. 42.5% of these individuals have remained on Original Medicare, whereas 57.5% have switched to a Medicare Advantage plan.
Maine also offers a Low-Cost Drug Program for the Elderly and Disabled for individuals who fall below certain income limits. This can work alongside Medicare Part D to provide additional coverage for prescription drugs.
If you want to learn more about Medicare in Maine, speak with a Chapter Medicare Advisor. Call us at (855) 900-2427 or schedule a free consultation.
Retiring in Maine
If a relaxed, coastal lifestyle appeals to you, Maine can be a great fit. If you choose to retire in Maine, you can expect your days to be filled with fresh seafood, outdoor activities, and gorgeous views.