Otisfield, ME is a small community located in the heart of Maine. The population of Otisfield is under 1,000 people. As a rural area, its economy largely depends on local industry and farming. One of the main employers in Otisfield is the potato farm, which supplies produce to many surrounding towns and villages. Other businesses include a few small cafes and restaurants, as well as some industrial companies that provide jobs for the locals. The cost of living in Otisfield is relatively low; two bedroom rents are about $1,140 per month compared to the US average of $1,430 per month and grocery costs are slightly higher than average with an index score of 106 versus 100 in the US.
Otisfield has an unemployment rate of 4.8%. The US average is 6.0%.
Otisfield has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 31.1%, which is lower than the US average of 33.5%.
Tax Rates for Otisfield
- The Sales Tax Rate for Otisfield is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Otisfield 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 Otisfield
- The average income of a Otisfield resident is $21,693 a year. The US average is $28,555 a year.
- The Median household income of a Otisfield resident is $66,544 a year. The US average is $69,021 a year.