Stonington, ME is a coastal town with a small population. It offers an affordable cost of living and is home to some well-known local companies. The average two bedroom rent in the area stands at $1,020 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Stonington is higher than the US index at 112 versus 100. Some of the popular businesses in Stonington include Bar Harbor Lobster Co., Stonington Seafood Market, Stonington Harbor Yacht Club and Island Adventure Cruises. There are also plenty of restaurants in town that cater to different tastes and budgets. With its scenic beauty, great amenities and affordable cost of living, Stonington is one place you should consider for your next home or vacation spot.
Stonington has an unemployment rate of 7.8%. The US average is 6.0%.
Stonington 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 32.5%, which is lower than the US average of 33.5%.
Tax Rates for Stonington
- The Sales Tax Rate for Stonington is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Stonington 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 Stonington
- The average income of a Stonington resident is $23,879 a year. The US average is $28,555 a year.
- The Median household income of a Stonington resident is $63,359 a year. The US average is $69,021 a year.