Sorrento, ME is a small town that offers its residents a low cost of living. The average rent for a two-bedroom apartment in Sorrento is only $1,030 compared to the national average of $1,430. Additionally, groceries are even cheaper with a grocery cost index of 107 versus 100 in the rest of the US. This makes it an attractive place for those looking to save money while still enjoying small-town life. Local businesses in Sorrento include Topside Tavern, Tracey's Takeout, and Down East Restaurant & BBQ, offering quality goods and services at low prices. All in all, Sorrento is an excellent option for anyone looking to live comfortably on a budget.
Sorrento has an unemployment rate of 1.8%. The US average is 6.0%.
Sorrento has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 32.5%, which is lower than the US average of 33.5%.
Tax Rates for Sorrento
- The Sales Tax Rate for Sorrento is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Sorrento 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 Sorrento
- The average income of a Sorrento resident is $31,140 a year. The US average is $28,555 a year.
- The Median household income of a Sorrento resident is $72,734 a year. The US average is $69,021 a year.