Thorndike, ME is a small town located in the state of Maine with a population of approximately 880 people. Despite its size, Thorndike has a vibrant economy with many small businesses providing services to the local community. Companies such as Thorndike General Store, Thorndike Building Supply, and Farmer’s Market of Thorndike are thriving in this part of Maine. The cost of living in Thorndike is much lower than the US average and rent for a two-bedroom apartment can be found for around $1,110 compared to the national average of $1,430. Additionally, the Grocery Cost Index is 106 versus 100 in the US which means prices for food items are slightly higher than the national average but still relatively low. All these factors make Thorndike an attractive place to live for many residents who value affordability and local services.
Thorndike has an unemployment rate of 5.6%. The US average is 6.0%.
Thorndike 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 34.9%, which is higher than the US average of 33.5%.
Tax Rates for Thorndike
- The Sales Tax Rate for Thorndike is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Thorndike 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 Thorndike
- The average income of a Thorndike resident is $19,914 a year. The US average is $28,555 a year.
- The Median household income of a Thorndike resident is $66,250 a year. The US average is $69,021 a year.