Monhegan, ME is a beautiful coastal island town with a population of about 70 people. The housing market here is quite expensive, as two bedroom rentals can cost up to $1,930 compared to the national average of just $1,430. This high price also extends to groceries - the Grocery Cost Index in Monhegan is 115 versus 100 in the US. Despite this, Monhegan remains an excellent location for small businesses. Local companies include the Monhegan Brewing Co., which offers delicious craft beer made from local ingredients, and Monhegan Books & Gifts, which stocks a variety of books and goods crafted by local artisans. All in all, while living in Monhegan can be expensive at first glance, the opportunity to live and work among such natural beauty makes it well worth it.
Monhegan Plantation has an unemployment rate of 9.1%. The US average is 6.0%.
Monhegan Plantation has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 33.0%, which is lower than the US average of 33.5%.
Tax Rates for Monhegan Plantation
- The Sales Tax Rate for Monhegan Plantation is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Monhegan Plantation 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 Monhegan Plantation
- The average income of a Monhegan Plantation resident is $41,168 a year. The US average is $37,638 a year.
- The Median household income of a Monhegan Plantation resident is $0 a year. The US average is $69,021 a year.