Penobscot County, ME Economy


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United States / Maine / / Penobscot County / Cities / Zip Codes
Penobscot, ME County is a great place to live with an affordable cost of living. The average rent for a two bedroom in Penobscot is $1,020 per month which is significantly lower than the US average of $1,430. The grocery cost index in Penobscot is also more affordable than the rest of the country with a 104 rating compared to 100 in the US. This makes it easy to find groceries at reasonable prices throughout the county. Local businesses such as Walmart, Target, and Hannaford have stores located in Penobscot offering excellent services and products at competitive prices. The unemployment rate is on par with other areas in Maine making it easy to find work or start your own business if desired. All of these factors make Penobscot an attractive option for those looking for comfortable place to live with an affordable cost of living.

Penobscot County has an unemployment rate of 5.3%. The US average is 6.0%.

Penobscot County has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.

Tax Rates for Penobscot County
- The Sales Tax Rate for Penobscot County is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Penobscot County 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 Penobscot County
- The average income of a Penobscot County resident is $24,076 a year. The US average is $28,555 a year.
- The Median household income of a Penobscot County resident is $55,125 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyPenobscot, MaineUnited States
  5.36
  -5.2%-6.2%
  26.6%33.5%
  5.5%6.2%
  6.8%4.6%
  $31,318$37,638
  $55,125$69,021
  $73,570$85,028
  Population by Occupation
  1.5%1.2%
  0.0%0.5%
  7.7%6.8%
  4.5%10.0%
  2.0%2.5%
  13.7%11.0%
  3.7%4.8%
  1.1%0.8%
  1.2%1.9%
  2.9%4.7%
  1.3%1.9%
  3.5%7.6%
  0.1%0.1%
  3.0%4.2%
  13.7%9.3%
  21.4%14.0%
  1.5%2.1%
  6.8%7.0%
  5.4%4.8%
  5.0%4.7%
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