Freeport, ME is a vibrant and diverse city located in the state of Maine. It is home to several notable companies such as L.L. Bean, Inc., North Atlantic Co-Op, and Freeport USA. The cost of living in Freeport is slightly higher than the national average with rent for a two bedroom apartment costing $2,010 compared to the national average of $1,430 and grocery costs coming at an index of 113 compared to an index of 100 in the US. Despite these increases in living costs, Freeport is still an attractive destination for residents due to its many amenities and businesses providing employment opportunities.
Freeport has an unemployment rate of 4.5%. The US average is 6.0%.
Freeport has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 40.1%, which is higher than the US average of 33.5%.
Tax Rates for Freeport
- The Sales Tax Rate for Freeport is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Freeport is 7.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Freeport
- The average income of a Freeport resident is $36,138 a year. The US average is $28,555 a year.
- The Median household income of a Freeport resident is $86,870 a year. The US average is $69,021 a year.