Why Live in Lake Arrowhead
Lake Arrowhead in Waterboro, Maine, is a large subdivision centered around the 779-acre lake of the same name, spanning the towns of Limerick and Waterboro. With about 2,800 residents, the community enjoys private beaches, waterfront access, and clubhouses with recreational spaces and fitness rooms. The neighborhood features backyard docks and private beaches, making it ideal for kayaking and fishing, with winter activities like snowmobiling and ice fishing also popular. Residents have access to two clubhouses, one in Limerick with a gym and another in Waterboro featuring games like pool and ping pong. The area is surrounded by preserves with trails, such as Dragonfly Island and Monaco Island.
Homes in Lake Arrowhead typically sit on half-acre plots, with some larger two-acre lots available. Architectural styles include Cape Cods, ranches, new traditional houses, and colonials, with many homes dating back to the 1980s. The community hosts events like ice cream parties in the summer and a Holiday Lights Contest in the winter.
Local amenities include restaurants like The Peppermill Restaurant and Town Hill Grille, as well as grocery stores such as Limerick Supermarket and Hannaford in Waterboro. Larger retail options like Target and Walmart are about 22 miles away, while Portland, 32 miles away, offers additional dining and nightlife options. The area is safer than the national average, with a low crime risk. However, properties closer to the shore have a higher flood risk, and flood insurance is recommended. The neighborhood is car-dependent, with state Route 117 providing access to Portland, and the nearest emergency room is 22 miles away at Maine Medical Center in Biddeford.
Frequently Asked Questions
Is Lake Arrowhead a good place to live?
Lake Arrowhead is a good place to live, receiving 4.0 stars from its residents. Lake Arrowhead is considered very car-dependent and somewhat bikeable. Lake Arrowhead has 2 parks for recreational activities. It is sparse in population with 0.7 people per acre and a median age of 36. The average household income is $85,663 which is below the national average. College graduates make up 15.7% of residents. A majority of residents in Lake Arrowhead are home owners, with 5.8% of residents renting and 94.2% of residents owning their home. A
local real estate agent serving Lake Arrowhead can help you decide if this neighborhood is the right one for you. Learn more on our
Lake Arrowhead neighborhood guide.
How much do you need to make to afford a house in Lake Arrowhead?
The median home price in Lake Arrowhead is $392,450. If you put a 20% down payment of $78,500 and had a 30-year fixed mortgage with an interest rate of 6.56%, your estimated principal and interest payment would be $2,000 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $86K a year to afford the median home price in Lake Arrowhead. The average household income in Lake Arrowhead is $86K.
What are the best public schools in Lake Arrowhead?
The best public schools that serve Lake Arrowhead are:
What are the most popular zip codes in Lake Arrowhead, Waterboro, ME?
What are the most popular neighborhoods near Lake Arrowhead, Waterboro, ME?
Home Trends in Lake Arrowhead, ME
On average, homes in Lake Arrowhead, Waterboro sell after 12 days on the market compared to the national average of 52 days. The median sale price for homes in Lake Arrowhead, Waterboro over the last 12 months is $380,000, up 3% from the median home sale price over the previous 12 months.
Median Sale Price
$380,000
Median Single Family Sale Price
$398,000
Average Price Per Sq Ft
$280
Number of Homes for Sale
7
Last 12 months Home Sales
41
Median List Price
$392,450
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
3%
