Everything You Should Know Before Moving to Peaks Island, ME
Planning a move to Peaks Island, ME? This peaceful island community of about 950 residents features a close-knit vibe, scenic ocean views, and a relaxed pace. Expect a median home price of $615,000 and average rent around $1,950, with a cost of living higher than the national average. Violent crime is very low, commutes (including the ferry to Portland) average 37 minutes, and schools offer small class sizes. Enjoy mild summers, ample outdoor activities, and easy access to Portland’s amenities just a short ferry ride away.
Demographics - Peaks Island, ME
Demographics - Peaks Island, ME
Peaks Island is a small, close-knit community of about 950 residents, with a median age of 54.2, reflecting a mature population. The area is predominantly White and has a balanced gender ratio, with a low percentage of non-English speakers, creating a welcoming and familiar atmosphere.
Population:
950
Density:
690 per sq mi
Median Age:
54.2
Gender Ratio:
95 males per 100 females
Non-English Speakers Percentage:
4.3%
Ethnic Composition
White:
96.2%
Black:
0.8%
Asian:
1.1%
Others:
1.9%
Cost Of Living
What is the average cost of living in Peaks Island, ME?
Living on Peaks Island comes with a higher cost of living index at 132.0, mainly due to housing costs, with a median home value of $615,000 and average rent of $1,950. Residents should also expect moderately higher expenses for groceries and utilities compared to national averages.
Median House Value:
$615,000
Gross Rent:
$1,950
Monthly Electricity Charges:
$120
Auto Insurance:
$1,020
House Owner Cost With Mortgage:
$2,520
House Owner Cost Without Mortgage:
$850
State Taxes:
Low:
5.8%
|
High:
7.15%
Cost Of Living Index:
132.0
Grocery:
115.4
Housing:
148.0
Utilities:
117.3
Transportation:
112.0
Health Care:
104.2
Miscellaneous:
108.0
Crime
Is Peaks Island, ME a safe place to live?
Peaks Island enjoys a very low violent crime rate, with just 78 incidents per 100,000 people, offering residents peace of mind. Property crime is also relatively low, making it a safe choice for families and retirees.
Violent Crimes Per 100k:
78
Property Crimes Per 100k:
1,180
Crime Index:
1,258
Chance Of Violent Crime:
1 in 1,282
Chance Of Property Crime:
1 in 85
Weather
What is the weather like in Peaks Island, ME year-round?
The island experiences four distinct seasons, with mild summers reaching highs of 78°F and chilly winters dipping to 17°F. Residents enjoy about 57% sunny days each year and receive over 48 inches of rainfall, supporting lush natural surroundings.
Winter
Min:
17°F
Max:
35°F
Spring
Min:
38°F
Max:
58°F
Summer
Min:
58°F
Max:
78°F
Fall
Min:
40°F
Max:
62°F
Average Rainfall Inches:
48.2 inches
Sunny Days Percentage:
57%
Neighbors
The median household income on Peaks Island is $78,500, with most residents enjoying a comfortable standard of living and a low poverty rate of 7.9%. The community is well-educated, with over half holding a bachelor’s degree or higher, and daily commutes average around 37 minutes, often involving a scenic ferry ride.
Median Income:
$41,000
Household Income:
$78,500
Family Income:
$92,000
Per Capita Income:
$49,500
Income Male:
$54,500
Income Female:
$45,000
Poverty Rate:
7.9%
Non English Speakers:
4.3%
Rent:
$1,950
Unemployment Rate:
4.2%
Public Transport Usage:
10.7%
Commute Time:
37.1 minutes
Education
High School or Higher:
97.4%
Bachelors or More:
54.8%
Education
How are the schools in Peaks Island, ME?
Peaks Island offers a small public elementary school with intimate class sizes, while private and higher education options are readily available in nearby Portland. Families benefit from access to reputable schools and colleges within a short commute.
Public Schools
Name:
Peaks Island Elementary School
Street:
4 Church Ave
Phone:
207-874-8228
Students:
60
Student Teacher Ratio:
10.5
Private Schools
Name:
Waynflete School
Street:
360 Spring St, Portland, ME
Phone:
207-774-5721
Students:
550
Colleges
Name:
University of Southern Maine
City:
Portland
State:
ME
Distance:
5 miles
Students:
8,000
Name:
Maine College of Art & Design
City:
Portland
State:
ME
Distance:
5 miles
Students:
500
Healthcare
Residents benefit from proximity to major hospitals like Maine Medical Center in Portland, and 94.5% have health insurance coverage. The area offers ample access to healthcare professionals, ensuring quality medical support close to home.
Major Hospitals
Name:
Maine Medical Center
Address:
22 Bramhall St, Portland, ME 04102
Phone:
(207) 662-0111
Type:
General & Surgical
Emergency Services:
Yes
Name:
Northern Light Mercy Hospital
Address:
175 Fore River Pkwy, Portland, ME 04102
Phone:
(207) 879-3000
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
2.9
Health Insurance Coverage:
94.5%
Health Care Index:
78.3
Housing Market
What is the housing market like in Peaks Island, ME?
The housing market is competitive, with a median home price of $615,000 and average rent for a two-bedroom at $1,950. Most homes are owner-occupied, and property values have seen a healthy appreciation rate of 7.1% in the past year.
Median Home Price:
$615,000
Average Rent For 2 Bedroom:
$1,950
Owner Occupied Rate:
68.2%
Rental Vacancy Rate:
5.8%
Home Appreciation Rate (1yr):
7.1%
New Construction Rate:
1.2%
Foreclosure Rate:
0.3%
DMV Information
Vehicle services for Peaks Island are managed by the Maine Bureau of Motor Vehicles, with the nearest office located in Augusta. Residents can conveniently access registration and licensing services both online and in-person.
State:
Maine
Department:
Maine Bureau of Motor Vehicles
Address:
101 Hospital St, Augusta, ME 04330
Phone:
207-624-9000
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.