Bangor, ME (04401) is a great city to call home for many reasons. Not only is it close to major cities like Portland and Augusta, but the cost of living in Bangor is surprisingly affordable. The average two bedroom rental rate in Bangor is $1,210 which is much lower than the US average of $1430. Grocery costs are also cheaper, with a grocery cost index of 105 compared to 100 in the US.
Bangor has plenty of local companies that contribute to its economic growth such as Canopy Growth Corporation and L.L. Bean, Inc., both headquartered in Bangor. Other popular businesses include Bangor Savings Bank, Dead River Company, Cianbro Corporation, and Central Maine Healthcare. With its independent businesses and lower than average rental rates Bangor offers residents a comfortable cost-friendly lifestyle.
Bangor (zip 04401) has an unemployment rate of 4.9%. The US average is 6.0%.
Bangor (zip 04401) has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 26.0%, which is lower than the US average of 33.5%.
Tax Rates for Bangor (zip 04401)
- The Sales Tax Rate for Bangor (zip 04401) is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Bangor (zip 04401) 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 Bangor (zip 04401)
- The average income of a Bangor (zip 04401) resident is $25,084 a year. The US average is $28,555 a year.
- The Median household income of a Bangor (zip 04401) resident is $57,428 a year. The US average is $69,021 a year.