Portage Lake, ME is an attractive area for many people due to its affordable housing costs and close proximity to local businesses. The average 2 bedroom rent in the area is only $840, which is substantially less than the US average of $1,430. Additionally, grocery costs in Portage Lake are relatively low, with a Grocery Cost Index of 105 compared to 100 in the US. There are a number of local businesses that make living in Portage Lake enjoyable such as Portage Mercantile, Paul’s Market Place and Harbor House Restaurant & Pub. With its low-cost living and great amenities, it's easy to see why Portage Lake is an attractive area for potential residents.
Portage Lake has an unemployment rate of 11.6%. The US average is 6.0%.
Portage Lake 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 24.1%, which is lower than the US average of 33.5%.
Tax Rates for Portage Lake
- The Sales Tax Rate for Portage Lake is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Portage Lake 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 Portage Lake
- The average income of a Portage Lake resident is $25,565 a year. The US average is $28,555 a year.
- The Median household income of a Portage Lake resident is $48,750 a year. The US average is $69,021 a year.