Salary Needed to Live in Portland as a Retiree
A retired individual (65+) needs approximately $23,928/year to live comfortably in Portland, ME — including 5% savings.
Comfortable Salary
$23,928
with 5% savings
Bare Minimum
$22,267
no savings buffer
Monthly Expenses
$1,336
9% above national avg
Detailed Monthly Budget for a Retiree in Portland
| Expense | Portland | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $143 | $121 | +18% |
| 🛒 Groceries | $19 | $16 | +19% |
| ⚡ Utilities | $18 | $15 | +20% |
| 🚗 Transportation | $20 | $18 | +11% |
| 🛡️ Car Insurance | $197 | $229 | -14% |
| 🏥 Health Insurance | $53 | $58 | -9% |
| Medicare Supplement | $230 | $200 | +15% |
| Prescription Drugs | $173 | $150 | +15% |
| Internet + Phone | $138 | $120 | +15% |
| Recreation & Social | $230 | $200 | +15% |
| Home Maintenance | $115 | $100 | +15% |
| Total Monthly | $1,336 | $1,227 | +9% |
How We Calculated the Salary
Monthly expenses:$1,336
Target savings (5%):$76/mo
Monthly after-tax needed:$1,412
Effective tax rate:28%
Gross annual salary needed:$23,928
Other Household Types in Portland
Related Pages
FAQ
What salary does a retiree need in Portland?
A retiree needs approximately $23,928/year ($1,994/month gross) to live comfortably in Portland with a 5% savings rate.
How much is rent for a retiree in Portland?
A 1-2br senior-friendly in Portland costs approximately $143/month, which is the largest single expense at 11% of the total budget.
Is Portland affordable for a retiree?
Portland is roughly average for retiree costs, requiring a salary close to the national median.