Living in Penobscot, Maine
Cost of living, income, home prices, rent and demographics of Penobscot · Census data 2020–2024
Penobscot has 1,154 residents with a median age of 53.4. The median household income is $63,194 (15% lower than the Maine median), the median home value is $296,400, the median rent is $1,141/month.
Penobscot is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Penobscot at a glance
- Population
- 1,154
- Median age
- 53.4State: 44.8
- Median household income
- $63,194State: $74,733
- Median home value
- $296,400State: $296,600
- Median rent
- $1,141/moState: $1,139
- Homeowners
- 84.2%
- Bachelor's degree or higher
- 32.4%
- Average commute
- 25 min
Is Penobscot a good place to live?
Pros: Home values about the same as the state median.
Cons: Median household income 15% lower than the Maine median; an average commute of 25 minutes; unemployment of 4.2%; a poverty rate of 16%.
The weather is best in June to September.
Cost of living in Penobscot
Housing is the biggest part of the cost of living. In Penobscot the median home value is $296,400, 11% lower than the U.S. median. Renters pay a median of $1,141 per month, which is 51% of household income. Homeowners with a mortgage pay $1,386 a month in housing costs.
Penobscot median household income
The median household income in Penobscot is $63,194 and the income per person is $39,498. 16% of residents live below the poverty line (Maine: 10.7%).
Housing in Penobscot: homes for sale and rent
- Housing units
- 792
- Owner-occupied
- 84.2%
- Renter-occupied
- 15.8%
- Vacant
- 33%Includes seasonal homes
- Median year built
- 1979
- Average household size
- 2.17
33% of homes are vacant most of the year, a sign that Penobscot has many vacation and second homes.
Penobscot demographics
- Population
- 1,154
- Median age
- 53.4
- Under 18
- 18%
- 65 and older
- 32%
- Households
- 531
- Foreign-born
- 2.9%
- Veterans
- 9.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Penobscot ›
Education in Penobscot
32.4% of adults 25 and older in Penobscot have a bachelor's degree or higher (Maine: 36.2%), and 8.7% have a graduate or professional degree.
Jobs and commute in Penobscot
- Unemployment rate
- 4.2%State: 3.8%
- Average commute
- 25 minState: 25 min
- Work from home
- 17.7%
- Drive alone
- 68.7%
- Public transit
- 0%
- Walk to work
- 4%
- Homes with broadband
- 88.7%
Penobscot vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Penobscot | 1,154 | $63,194 | $296,400 | $1,141 |
| Verona Island | 481 | $61,607 | $243,600 | — |
| Castine | 1,362 | $113,750 | $603,500 | $1,105 |
| Orland | 1,915 | $69,348 | $277,100 | $1,149 |
| Stockton Springs | 1,652 | $74,886 | $259,100 | $1,397 |
| Brooksville | 853 | $56,316 | $390,900 | $1,307 |
| Surry | 1,836 | $74,508 | $296,300 | $969 |
| Prospect | 923 | $81,250 | $196,500 | $1,107 |
| Sedgwick | 1,274 | $70,446 | $336,200 | $1,048 |
More for people moving to Penobscot
Penobscot ZIP code ›Weather and climate ›Living in Penobscot: FAQ
What is the median household income in Penobscot, ME?
The median household income in Penobscot is $63,194, 15% lower than the Maine median of $74,733 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Penobscot?
The median home value in Penobscot is $296,400, compared with $296,600 in Maine.
How much is rent in Penobscot?
The median gross rent in Penobscot is $1,141 per month, about 51% of household income.
Is Penobscot, ME a good place to live?
Pluses: home values about the same as the state median. Minuses: median household income 15% lower than the Maine median; an average commute of 25 minutes; unemployment of 4.2%; a poverty rate of 16%.
What is the median age in Penobscot?
The median age in Penobscot is 53.4 years (Maine: 44.8).
How long is the commute in Penobscot?
The average commute to work in Penobscot is 25 minutes; 17.7% of workers work from home.
What is the unemployment rate in Penobscot?
The unemployment rate in Penobscot is 4.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Penobscot?
32.4% of adults in Penobscot have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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