Colby?
Waterville is ok. Enough undergrads to keep things interesting, but without grad students it’s not as robust as other college towns. I personally like nearby Gardiner more for a place to live
What specifically are you looking for?
Thanks for your response and for asking! We're looking for a low-cost of living area with lots of bass fishing and hiking. Waterville is in the center of the Belgrade Lakes Region, which we understand has both.
Ok, based on what you've said, I suggest you check out Hallowell, ME. It's about half an hour south of Waterville but still in the Belgrade Lakes region. From Hallowell it's actually
easier to get to some of the larger lakes in the region, and closer to Sebago and Long lakes. It has a low cost of living and new Hallowell Waterfront park runs along the river and connects the town to Augusta via a walking/bike path. It's also a not-terribly-far distance from Portland (45 minutes or so) and Brunswick (20-25 minutes). Portland is the only real "city" in Maine and where you'll inevitably need to go for various city things, and once you get to Brunswick you can take the Amtrak Downeaster train all the way into Boston - which is a great way of getting to a major airport hub without the expense.