Squirrel Island, ME (04570) is a small and picturesque island community located off the coast of Boothbay Harbor. The population of Squirrel Island is approximately 200 people. The cost of rent for a 2 bedroom apartment in this area is $1,170, significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Squirrel Island is 110 versus 100 in the US. This means that groceries are slightly more expensive on the island than most places in the US.
The local economy largely depends on tourism but also includes several other businesses such as retail stores, restaurants, and service companies like boat builders and kayak rental services. Some popular companies on Squirrel Island include Red Hat Fish Market & Lobser Company which has been providing fresh seafood to locals and tourists since 1937; Widow’s Walk Golf Course which offers a 9-hole golf course for locals and visitors; Spruce Point Inn which offers lodging for vacationers; and The Maine Kayak Company which provides guided kayak tours around the island’s many scenic spots.