Phillips, ME is a small town located in Franklin County. It has a population of just over 1,000 people and is known for its various outdoor recreational activities. The town has a few local businesses such as Phillips Community Grocery Store, Anderson's Hardware Store, and the Bank of Maine. The current economic situation in Phillips is relatively stable with a two bedroom rent costing $940 per month and a grocery cost index of 105 compared to the US average of 100. Despite its small size and population density, Phillips offers many amenities for those looking to live in the area or vacation.
Phillips has an unemployment rate of 7.5%. The US average is 6.0%.
Phillips has seen the job market decrease by -7.0% over the last year. Future job growth over the next ten years is predicted to be 26.3%, which is lower than the US average of 33.5%.
Tax Rates for Phillips
- The Sales Tax Rate for Phillips is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Phillips 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 Phillips
- The average income of a Phillips resident is $26,440 a year. The US average is $37,638 a year.
- The Median household income of a Phillips resident is $38,958 a year. The US average is $69,021 a year.