The 5 ‘Richest’ Towns in Maine Will Surprise You

When you think about the distribution of wealth in the state of Maine, you likely have preconceived notions about where the wealthiest towns in the state are located.

That's okay.  We are probably all thinking the same thing.

The state's wealthiest towns are all clustered around Portland, right?  Given that Portland is the state's largest city, and the most expensive place in the state to live, that makes sense.  You would expect that all of the smaller towns surrounding Portland would be fairly affluent.

That is only partially true.

The Maine Demographics website recently listed the state's 'richest' cities for 2024.

The list is based on the amount of money the people who live in each municipality make.  They take into account both the average income and the median income.

The average income is the total amount added up and divided by the number of working people.  So, if person 'A' made $10,000, person 'B' made $20,000, and person 'C' made $60,000, the average would be $30,000.

The median income is the center point between the highest earners and the lowest earners.  So, if the highest earner made $100,000 and the lowest made $10,000 the median would be $55,000.

The 5 Richest Towns in Maine

5 - Hamlin (Aroostook County) - Located on the Maine/New Brunswick border, the tiny town only has about 160 residents.  The average income in $177,225 and the median income is $44,375

4 - Cape Elizabeth (Cumberland County) - With a population of 9,592 the town is a quintessential Portland suburb.  While it is close to the city, it is also far enough away to feel like a small town.  The average income is just over $192,000 and the median income is $144,250.

3 - Isle Au Haut (Knox County) - The tiny island, which is about 6 miles off the coast, has a population of about 88 (as of 2024).  The average population is $202,384 and the median income is $-1.

2 - Cumberland (Cumberland County) - The town, which is adjacent to ritzy Falmouth, has a population of just under 9,000.  The average income for the town is $211,376 and the median income is $144,167.

1 - Falmouth (Cumberland County) - The wealthy suburb of Portland has a population of 12,868.  The average income is $223,766 and the median income is $144,118.

The list of 'rich' Maine cities and towns also includes the Oxford County town of Hanover (6th place), Kennebunkport (9th place), the Sagadahoc County town of Arrowsic (10th place), and Norridgewock (14th place).

Do you live in one of the state's richest towns?  Are you surprised by this list?