Old Town, ME Economy


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Old Town, ME is a small city located in Penobscot County. It has a population of 8,360 people and is a relatively affordable place to live with 2 bedroom rent being $1,120 compared to the US average of $1,430. The grocery cost index is also favorable for Old Town at 105 versus 100 in the US. It's a great place to settle down for people on a budget or those looking for a quaint lifestyle. Old Town is home to several local businesses such as True North Federal Credit Union, Schoodic River Guide Services, and The Old Town Canoe Company.

Old Town has an unemployment rate of 4.2%. The US average is 6.0%.

Old Town has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.

Tax Rates for Old Town
- The Sales Tax Rate for Old Town is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Old Town 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 Old Town
- The average income of a Old Town resident is $29,000 a year. The US average is $37,638 a year.
- The Median household income of a Old Town resident is $43,474 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyOld Town, MaineUnited States
  4.26
  -5.3%-6.2%
  26.6%33.5%
  5.5%6.2%
  6.8%4.6%
  $29,000$37,638
  $43,474$69,021
  $68,393$85,028
  Population by Occupation
  0.9%1.2%
  0.0%0.5%
  7.2%6.8%
  2.4%10.0%
  2.0%2.5%
  11.2%11.0%
  1.7%4.8%
  0.3%0.8%
  0.6%1.9%
  2.8%4.7%
  1.6%1.9%
  5.0%7.6%
  0.0%0.1%
  1.6%4.2%
  23.6%9.3%
  23.5%14.0%
  0.2%2.1%
  6.5%7.0%
  5.6%4.8%
  3.3%4.7%
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