New Sweden, ME is a small town located in Northern Maine and home to only about 800 residents. The cost of living is lower than the US average, with 2 bedroom rent costing only $830 compared to $1,430 in the US. The Grocery Cost Index is also lower, coming in at 105 versus 100 in the US. There are many local businesses found in New Sweden which help contribute to the economy and community. These include stores like Mulcahy’s Crafts & Gifts, New Sweden Home Center Hardware Store, and the Littleton Trucking Co. All of these companies work together to provide goods and services to New Sweden residents as well as those that visit from nearby towns or cities.
New Sweden has an unemployment rate of 7.9%. The US average is 6.0%.
New Sweden has seen the job market decrease by -5.0% 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 New Sweden
- The Sales Tax Rate for New Sweden is 5.5%. The US average is 7.3%.
- The Income Tax Rate for New Sweden 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 New Sweden
- The average income of a New Sweden resident is $28,000 a year. The US average is $37,638 a year.
- The Median household income of a New Sweden resident is $46,250 a year. The US average is $69,021 a year.