Farmington, ME is a small town located in the southern part of the state. Notable local companies include Maine Machine Products, P&L Pro Concrete, and Cianbro Corporation. Popular tourist attractions include Titcomb Mountain Ski Area and Rangeley Lake State Park. Despite its small size, Farmington has a reasonable cost of living with an average 2 bedroom rent of $950 compared to the US average of $1,430. The Grocery Cost Index in Farmington is also 106 compared to 100 in the US. Residents can enjoy a cost-effective lifestyle without sacrificing access to some great local companies and attractions.
Farmington has an unemployment rate of 5.5%. The US average is 6.0%.
Farmington has seen the job market decrease by -7.0% over the last year. Future job growth over the next ten years is predicted to be 26.3%, which is lower than the US average of 33.5%.
Tax Rates for Farmington
- The Sales Tax Rate for Farmington is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Farmington 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 Farmington
- The average income of a Farmington resident is $34,438 a year. The US average is $37,638 a year.
- The Median household income of a Farmington resident is $44,808 a year. The US average is $69,021 a year.