Portland Maine on 100K? (Scarborough, Falmouth: sales, mortgage, how much)

[farans]

Hi, My wife and I are considering a move from Chicago to Portland, ME and I was wondering about cost of living. I could probably find a job for at least 100K, maybe higher, based on my line of work. I was wondering, is this considered a good salary for a family of four with only one person working?

I apologize in advance if this is an insult to any of you. I read some angry replies when I posed this question about the Denver area. So please, I am not trying to insult anyone. Coming from Chicago, 100K is not all that much and I want to be able to live a comparable life. We are not big spenders. My goal is to work, buy a nice home, send my kids to good schools and save for retirement and for their college education.

Thank you in advance for you comments. I look forward to reading them.

[K-Luv]

$100K in Portland, ME. is not only doable, but it will put you into the upper-crust of society in the area. So yes, this salary will definitely allow you to live quite comfortably supporting a family of four. Shoot, it is more typical for someone around Portland to string together a few jobs for a combined salary of $20K or less. Higher-paying jobs are available, however, they are small in selection, and the economy is LARGELY based on the service industry.

I must ask what job you do that will more-than-likely bring in the kind of money you think it would? Realistically, a job that pays $100K elsewhere would pay between $40K and maybe $60K tops. Of course I could be wrong, but that is generally par for course.

[atrixwolfe]

Yes you should be able to do just fine on 100K, I wouldn't say upper crust but you'd be comfortable. Heating oil is one of the biggest additional expenses a I experienced in relocating here, but you might be used to that coming from Chicago. Property taxes are a bit higher than I expected but sales tax is only 5%. Be sure to check your salary expectations with a local head hunter (if you PM me I can reccomend a few). Good luck! You'll love it here, I do!

[genmomto5]

If you live in Portland and want to send the kids to private school I don't know how much this would cost. If you live in Falmouth or Cape Elizabeth you'd have the best public schools in the state and save on the annual cost of private tuition. Either way, I think you'll do just fine on that salary. I second K-Luv though, 100k jobs are hard to come by around here.

[rossco17]

Everything depends on what other expenses you have. 100k is great, but if you pay $3k/mo on a mortgage and another $500 on car payments, it doesn't leave you with much for all the other monthly expenses. Energy (heating oil and electric) is expensive here, and so are groceries and property taxes. You should do fine if you purchase a modest home and you budget well. I disagree with the 'upper crust' comment, though you will certainly be making an above average salary for the area.

With regards to schools, I second genmomto5's comment about looking in Falmouth and Cape Elizabeth, and I would add Scarborough and Yarmouth to that list as well.

good luck