Cherryfield, ME is a small town located in Hancock County, Maine. It has a population of approximately 1,200 people and is known for its rural charm. Two bedroom rentals in Cherryfield are much lower than the national average, coming in at $900 per month compared to the US average of $1,430 per month. The cost of living in Cherryfield is also significantly lower than the US average; the Grocery Cost Index for Cherryfield stands at 104 versus 100 for the US. There are many local businesses in this charming town including Balsam’s Country Corner Store, B&B Auto Restoration & Towing Service and Little Creek Dairy Farm. Whether you’re looking to rent or buy a home or just looking to explore this small rural town, Cherryfield has something for everyone.
Cherryfield has an unemployment rate of 8.5%. The US average is 6.0%.
Cherryfield has seen the job market decrease by -4.4% over the last year. Future job growth over the next ten years is predicted to be 26.7%, which is lower than the US average of 33.5%.
Tax Rates for Cherryfield
- The Sales Tax Rate for Cherryfield is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Cherryfield 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 Cherryfield
- The average income of a Cherryfield resident is $22,334 a year. The US average is $37,638 a year.
- The Median household income of a Cherryfield resident is $34,141 a year. The US average is $69,021 a year.