Old Town, ME (04489) is a small town located on Penobscot River with a population of approximately 7,000 people. The two bedroom rent in Old Town is around $1,720 per month compared to the US average of $1,430 per month. In addition to rental prices being higher than average, grocery costs are significantly higher than the national average. The Grocery Cost Index in Old Town is 105 versus 100 in the US. Local companies such as Pepsi Cola Bottling Co., Old Town Canoe Co., and Dead River Company employ many people from the area. \nThe cost of living index in Old Town is about 8% higher than the national average across all categories including housing, utilities, transportation and healthcare as well as other goods and services. This means that residents will need to have more money available for day-to-day living expenses in order to cover their bills and lifestyle needs.
Old Town (zip 04489) has an unemployment rate of 5.3%. The US average is 6.0%.
Old Town (zip 04489) has seen the job market decrease by -5.2% 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 Old Town (zip 04489)
- The Sales Tax Rate for Old Town (zip 04489) is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Old Town (zip 04489) 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 Old Town (zip 04489)
- The average income of a Old Town (zip 04489) resident is $23,706 a year. The US average is $37,638 a year.
- The Median household income of a Old Town (zip 04489) resident is $0 a year. The US average is $69,021 a year.