Winthrop, ME is a popular city located in Kennebec County. It is known for its small-town charm and peaceful atmosphere. The cost of living in Winthrop is quite low, with a two bedroom apartment renting for $990, which is much lower than the national average of $1,430. Additionally, the Grocery Cost Index in Winthrop is 106 compared to 100 nationally.
Winthrop has plenty of local businesses that contribute to its economy. Notable companies include CMP Group Inc., a nonprofit organization aimed at fostering communication between government and the public; Colby College Museum of Art, perfectly situated on Mayflower Hill; and Winthrop Hardware & Supply Co., providing quality products for over 60 years.
Winthrop has an unemployment rate of 4.7%. The US average is 6.0%.
Winthrop has seen the job market decrease by -3.8% over the last year. Future job growth over the next ten years is predicted to be 31.9%, which is lower than the US average of 33.5%.
Tax Rates for Winthrop
- The Sales Tax Rate for Winthrop is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Winthrop 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 Winthrop
- The average income of a Winthrop resident is $32,519 a year. The US average is $37,638 a year.
- The Median household income of a Winthrop resident is $74,338 a year. The US average is $69,021 a year.