Camden, ME is a small town located on the beautiful Penobscot Bay. The local economy is largely driven by its thriving tourism industry, with popular attractions such as the historic Camden Harbor and the Camden Hills State Park. There are several local businesses in Camden such as the Maine Sport Outfitters store, Café Miranda, and the Oyster River Winegrowers winery. Rent is also relatively affordable in Camden with 2-bedroom apartments costing around $1,300 per month compared to the US average of $1,430. The grocery cost index in Camden is 112 versus 100 for the US overall. The median household income for Camden is approximately $68,897 per year compared to an average of just over $57k for Maine’s coastal region.
Camden has an unemployment rate of 5.6%. The US average is 6.0%.
Camden 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 31.7%, which is lower than the US average of 33.5%.
Tax Rates for Camden
- The Sales Tax Rate for Camden is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Camden 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 Camden
- The average income of a Camden resident is $40,624 a year. The US average is $28,555 a year.
- The Median household income of a Camden resident is $84,123 a year. The US average is $69,021 a year.