Cost of Living
Stop comparing list prices. Compare total monthly cost.
OOB has fee simple cottages, year round single family homes, and condo associations all at the same address. Total monthly cost of ownership is the only fair comparison.
| Cost Category | Single Family Year Round | Condo with HOA |
|---|---|---|
| Mortgage P&I (on $500K) | Same | Same |
| Property tax (1.22% effective) | $6,100/yr ($508/mo) | $6,100/yr ($508/mo) |
| Homestead Exemption (primary res) | −$275 to −$430/yr | −$275 to −$430/yr |
| Homeowners insurance (coastal) | $1,800 to $3,200/yr | Often included in HOA |
| Flood insurance (Zone AE/VE) | $700 to $2,500/yr | Often included |
| HOA fee | $0 | $300 to $700/mo |
| Lawn / exterior maintenance | $100 to $200/mo | Included |
| Trash / water / sewer | $80 to $150/mo | Often included |
| Cable / internet | $100 to $200/mo | Sometimes included |
| Total monthly (P&I excluded) | $700 to $1,200 | $500 to $900 |
Estimates as of May 2026. Real numbers depend on roof age, FEMA flood zone, association rules, and primary versus second home status. Get insurance quotes and request full association budget before contingency removal. Maine state lodging tax 9% applies to short term rentals.