Frankfort, Maine (04438) has a low cost of living compared to the national average. Rent for a two bedroom apartment is $1,170 per month, which is $260 less than the US average of $1,430. Similarly, the Grocery Cost Index in Frankfort is 105 versus the US average of 100. With such an affordable cost of living, many people are drawn to this small town in Maine.
Employment opportunities in Frankfort are abundant due to its close proximity to larger cities such as Augusta and Bangor. Major employers include Bangor Savings Bank, Eastern Maine Medical Center and Blue Marble Biomaterials Incorporated. The median household income is $48,000 and the unemployment rate is at 3%, making this one of Maine’s most attractive places to live and work.
Frankfort (zip 04438) has an unemployment rate of 5.5%. The US average is 6.0%.
Frankfort (zip 04438) 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 Frankfort (zip 04438)
- The Sales Tax Rate for Frankfort (zip 04438) is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Frankfort (zip 04438) 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 Frankfort (zip 04438)
- The average income of a Frankfort (zip 04438) resident is $21,374 a year. The US average is $28,555 a year.
- The Median household income of a Frankfort (zip 04438) resident is $64,271 a year. The US average is $69,021 a year.