Newcastle, ME is a small town in the state of Maine with a population of around 1,500 people. The cost of living is relatively low compared to other parts of the country, with an average two-bedroom rent of $1,170 and a grocery cost index of 108 compared to the US national average at 100. There are many family-owned businesses in Newcastle such as Thurlow’s Hardware Store, which has been in business since 1929. They specialize in furniture repair and home improvement projects. Additionally, there is also The Bookstore Café which offers specialty books and coffees from local roasters. There is something for everyone in Newcastle that makes it a great place to call home.
Newcastle has an unemployment rate of 5.9%. The US average is 6.0%.
Newcastle has seen the job market increase by 0.5% 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 Newcastle
- The Sales Tax Rate for Newcastle is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Newcastle 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 Newcastle
- The average income of a Newcastle resident is $31,645 a year. The US average is $28,555 a year.
- The Median household income of a Newcastle resident is $79,313 a year. The US average is $69,021 a year.