Searsmont, ME is a small town located in the US state of Maine. It has a population of 1,817 people as of 2019. Searsmont offers residents an affordable lifestyle with its 2 bedroom rent being much lower than the US average at $1,160/month. The cost of groceries are also moderately priced compared to the rest of the United States with its grocery cost index being 107 versus 100 in the US.
Searsmont has several local businesses such as Tidds Corner Store, Jordan’s Auto Repair and U-Haul Moving & Storage. These businesses provide employment opportunities for local residents and contribute to the economic development of the community.
In conclusion, Searsmont is an affordable place to live with amenities that meet basic needs while providing a small-town atmosphere. Local businesses play a large role in boosting the economy, creating job opportunities and encouraging economic growth in Searsmont. Two key takeaways from living in Searsmont are that housing costs are substantially lower than normal and you can get most everyday necessities at moderate prices.
Searsmont has an unemployment rate of 6.1%. The US average is 6.0%.
Searsmont has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 34.9%, which is higher than the US average of 33.5%.
Tax Rates for Searsmont
- The Sales Tax Rate for Searsmont is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Searsmont 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 Searsmont
- The average income of a Searsmont resident is $21,824 a year. The US average is $28,555 a year.
- The Median household income of a Searsmont resident is $86,667 a year. The US average is $69,021 a year.