Palmyra, ME is a small town located in the state of Maine. It has a population of around 2,000 people and is known for its beautiful scenery and friendly atmosphere. The cost of living is relatively low with two bedroom rents only costing $920 on average while the US 2 bedroom rent averages at $1,430. The grocery cost index for Palmyra is 103 as compared to the national average of 100, indicating that groceries are slightly more expensive than other areas. This makes it a great place to live if you are looking to save money. As far as work goes, there are many local businesses that offer employment opportunities. These include restaurants, retail stores, and other service providers. The average salary in Palmyra is around $50k per year which provides locals with enough money to cover their expenses and also save for the future.
Palmyra has an unemployment rate of 8.3%. The US average is 6.0%.
Palmyra has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 23.9%, which is lower than the US average of 33.5%.
Tax Rates for Palmyra
- The Sales Tax Rate for Palmyra is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Palmyra 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 Palmyra
- The average income of a Palmyra resident is $19,652 a year. The US average is $28,555 a year.
- The Median household income of a Palmyra resident is $61,250 a year. The US average is $69,021 a year.