Merrill, ME is a small town located in Lincoln County. It is known for its rural beauty, access to outdoor activities, and friendly locals. This picturesque town has much to offer individuals and families who are looking for a slower pace of life. When it comes to housing costs, 2-bedroom apartments in Merrill can be rented for an average of $840 per month, which is significantly lower than the national rent average of $1,430 for similar sized residences. Additionally, grocery costs in Merrill are slightly more expensive than the U.S average with a cost index of 104 versus 100 nationally.
When it comes to businesses in Merrill, local options include Loon Lake Grocery & Deli, Stairway Cafe & Bakery, Merrill Auto Repair Shop, and Hillside Market. These locally owned establishments provide employment opportunities as well as essential services to the residents of Merrill. Recently there have been some changes to cost of living in the area due to increased rental rates and higher grocery prices that have been seen across the county; this has caused some financial hardship among many families but the overall quality of life remains high thanks to low unemployment rates and plenty of services available from local companies.
Merrill has an unemployment rate of 3.8%. The US average is 6.0%.
Merrill has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 24.1%, which is lower than the US average of 33.5%.
Tax Rates for Merrill
- The Sales Tax Rate for Merrill is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Merrill 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 Merrill
- The average income of a Merrill resident is $23,815 a year. The US average is $28,555 a year.
- The Median household income of a Merrill resident is $55,938 a year. The US average is $69,021 a year.