Salary Needed to Live in Augusta as a Retiree
A retired individual (65+) needs approximately $49,290/year to live comfortably in Augusta, ME, including 5% savings.
Direct Answer
A retiree needs about $49,290/year to live comfortably in Augusta, ME. The bare-minimum salary is $45,867/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $2,908.
The minimum scenario leaves about $2,752/mo after tax and no planned savings. The comfortable scenario uses $4,108/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$49,290
with 5% savings
Bare Minimum
$45,867
$3,822/mo gross, no savings buffer
Monthly Expenses
$2,752
26% below national avg
Detailed Monthly Budget for a Retiree in Augusta
| Expense | Augusta | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $689 | $1,448 | -52% |
| Groceries | $189 | $189 | 0% |
| Utilities | $183 | $183 | 0% |
| Transportation | $202 | $211 | -4% |
| Car Insurance | $205 | $229 | -10% |
| Health Insurance | $545 | $690 | -21% |
| Medicare Supplement | $192 | $200 | -4% |
| Prescription Drugs | $144 | $150 | -4% |
| Internet + Phone | $115 | $120 | -4% |
| Recreation & Social | $192 | $200 | -4% |
| Home Maintenance | $96 | $100 | -4% |
| Total Monthly | $2,752 | $3,720 | -26% |
How We Calculated the Salary
Monthly expenses:$2,752
Target savings (5%):$156/mo
Monthly after-tax needed:$2,908
Effective tax rate:28%
Gross annual salary needed:$49,290
What Drives the Salary Number?
Housing
$689
1-2BR Senior-Friendly rent is 25% of this monthly budget.
Taxes
28%
Estimated federal plus ME state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$156/mo is reserved for savings so the salary is not just break-even.
Local index
96/100
Augusta is below the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby northeast Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $689/mo or adjust the salary target upward.
- Budget $739/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $45,867/year as the survival floor and $49,290/year as the healthier negotiation target.
Other Household Types in Augusta
Related Pages
FAQ
What salary does a retiree need in Augusta?
A retiree needs approximately $49,290/year ($4,108/month gross) to live comfortably in Augusta with a 5% savings rate.
How much is rent for a retiree in Augusta?
A 1-2br senior-friendly in Augusta costs approximately $689/month, which is the largest single expense at 25% of the total budget.
Is Augusta affordable for a retiree?
Yes, Augusta is 26% more affordable than the national average for a retiree.