Medway, ME is a small town located along the Eastern Seaboard of the United States. This quaint town is home to several local businesses such as Pines Landscaping and The Town Store. With much less population than the country as a whole, prices for rent are much lower than the US average at $990 for a two bedroom apartment compared to $1,430. Additionally, the grocery cost index in Medway is 101 versus 100 in the US indicating that groceries are slightly more expensive in Medway than elsewhere. Overall, Medway provides an affordable cost of living with many local amenities like small businesses and unique restaurants for residents to enjoy.
Medway has an unemployment rate of 9.5%. The US average is 6.0%.
Medway has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for Medway
- The Sales Tax Rate for Medway is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Medway 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 Medway
- The average income of a Medway resident is $20,943 a year. The US average is $28,555 a year.
- The Median household income of a Medway resident is $34,728 a year. The US average is $69,021 a year.