Cambridge, ME is a small town located in the state of Maine. It’s known for its beautiful landscapes and pleasant environment, making it a great place to live. Although the cost of living can be quite high, two bedroom rent is still relatively low at $940 compared to the US average of $1,430. The Grocery Cost Index in Cambridge is also slightly higher than the US at 102 versus 100.
As far as local businesses are concerned, some popular and successful companies in Cambridge include Cafe Nomad Coffee Shop & Roastery, Franklin Auto Parts & Service Centre and Sea Glass Design Studio. All three of these stores have received positive reviews from locals and tourists alike.
Cambridge has an unemployment rate of 7.5%. The US average is 6.0%.
Cambridge 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 Cambridge
- The Sales Tax Rate for Cambridge is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Cambridge 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 Cambridge
- The average income of a Cambridge resident is $18,801 a year. The US average is $28,555 a year.
- The Median household income of a Cambridge resident is $64,091 a year. The US average is $69,021 a year.