Maine Economy


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Maine is a state on the East Coast of the United States known for its rugged coastal scenery and numerous outdoor activities. Its many local companies include L.L. Bean, Marden's Surplus & Salvage Store, Hannaford Supermarkets, Idexx Laboratories, and WEX Inc. The economy of Maine is largely driven by industries such as agriculture, fishing, forestry and manufacturing. Additionally, its tourist industry is a significant contributor to the state’s economic growth due to its scenic coastlines and abundance of recreation opportunities. In terms of housing costs, rent averages around $1,250 per month for a two-bedroom in Maine compared to $1,430 in the U.S., while grocery cost index in Maine is 107 versus 100 in the nation which makes it a more affordable place to live overall.

Maine has an unemployment rate of 5.4%. The US average is 6.0%.

Maine has seen the job market decrease by -5.5% over the last year. Future job growth over the next ten years is predicted to be 33.7%, which is higher than the US average of 33.5%.

Tax Rates for Maine
- The Sales Tax Rate for Maine is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Maine 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 Maine
- The average income of a Maine resident is $36,171 a year. The US average is $37,638 a year.
- The Median household income of a Maine resident is $63,182 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyMaine, MaineUnited States
  Population by Occupation
Reviews for Maine
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Over 4 years ago

I've been in Maine of and on my whole life. Maine folks for the most part are not very complicated. The drug epidemic has gotten better I think. If you enjoy shopping I  More

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Over 9 years ago

We are on this site to exit Maine in the winter. It is a beautiful and expensive (taxes) state. We plan to stay here most of the year, as 3 of the seasons are beautiful.  More

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Over 10 years ago

Unless you want to live around Portland Maine or maybe BIW, not much work in Maine, except min wage...Weather from Sept thru May, you freeze your butt off, put kids in  More

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