Cumberland, ME is an attractive location to consider for living due to its excellent amenities. It offers a wide range of options for recreation such as hiking trails and beaches. There are many local companies located in Cumberland, such as Maine Medical Center, Mahoney Environmental Solutions, and United Power Solutions. In addition to the variety of available businesses, Cumberland’s 2 bedroom rent is lower than the US average at $1,960 compared to $1,430. Furthermore, food items such as groceries are cheaper in Cumberland with a Grocery Cost Index of 115 versus the nationwide index of 100. Therefore, moving to Cumberland can save you money on living costs while still experiencing all that it has to offer.
Cumberland has an unemployment rate of 3.5%. The US average is 6.0%.
Cumberland 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 Cumberland
- The Sales Tax Rate for Cumberland is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Cumberland 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 Cumberland
- The average income of a Cumberland resident is $58,414 a year. The US average is $28,555 a year.
- The Median household income of a Cumberland resident is $121,991 a year. The US average is $69,021 a year.