Southwest Harbor, ME is a quiet coastal town located on the eastern coast of Maine. It is known for its stunning ocean views and quaint downtown area which features local shops, restaurants, and art galleries. The cost of living in Southwest Harbor is relatively low when compared to many other parts of the country. For example, the average two bedroom rent in Southwest Harbor stands at $1,270 compared to the US average of $1,430. Additionally, grocery cost index in Southwest Harbor is 114 versus 100 in the US. Some local companies include Beal & Bunker Shipbuilding Co., Hancock Lobster Co., and Hodgdon Yachts.
Southwest Harbor has an unemployment rate of 8.3%. The US average is 6.0%.
Southwest Harbor 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 Southwest Harbor
- The Sales Tax Rate for Southwest Harbor is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Southwest Harbor 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 Southwest Harbor
- The average income of a Southwest Harbor resident is $33,294 a year. The US average is $37,638 a year.
- The Median household income of a Southwest Harbor resident is $48,452 a year. The US average is $69,021 a year.