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Our cost of living indices are based on a US average of 100. Retirees in Maine can opt for independent living, assisted living, memory care, or … The pros and cons depend a lot on where you are in your life. State of Maine salaries average $42,596.00, indicating a pay rate that is lower than the U.S. average annual salary by $11,025.00. Maine's income tax rate ranges from 5.8% to a top marginal rate of 7.15%. by Callie Ferguson and Josh Keefe September 25, 2019 September 26, 2019 Share this: What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city. A cost of living index above 100 means Caribou, Maine is more expensive. Make your dream of living in Maine a reality. The average american will pay 10.30% more on goods and services than a resident of Maine.. Coffee is generally $0.42 less in Maine than the rest of America . Maine Taxes. I would like to hear feedback if you have lived in NH or Maine or possible both states in the past or present as far as the cost of living. This means that the cost of living in Hawaii is 92.9% higher than the U.S. average. The cost for a semi-private room is roughly $9,140 a month. If you prefer more privacy, you can get a private room for approximately $9,764 a month. I was born in Maine and couldn’t wait to leave when I graduated from high school. 1. Overview of Maine Taxes. Retirement Income Exemptions. So we used that cost of living index in order to rank all of the 22 places in Maine that have more than 1,000 people. Cost of Living in Hartland, Maine . Cost of living in Florida (US) compared to Maine (US). The cost of living in Bangor is 3% lower than the Maine average; The cost of living in Bangor is 2% higher than the national average; Bangor housing is 19% lower than the national average; Maine general sales tax is 8% higher than the national average The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. Hawaii’s housing index is 318.6, where a two-bedroom costs about $1,895 per month and the median home value is about $660,000. Maine. Explore the best places to live in Maine based on crime, public schools, cost of living, real estate, and local amenities. Here are some fun facts about the differences between the cost of living in Maine and the rest of American.. Transportation is on average 9.50% more than the rest of America.. It also doesn’t help that it has one of the highest state tax rates. Maine also ranked eighth among the 10 worst states in which to retire, according to MoneyRates. Public officials and residents are increasingly concerned about Portland's affordability because Portland's housing costs are rising steadily. 2. Maine is annually ranked as one of the top 10 healthiest states in America. As the name implies, subsidized housing offers independent living at … We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. The Relocation Assessor includes cost of living differentials for 10,000 areas worldwide and allows for customization based on salary, housing, family size, consumption, services, and travel. States with the Highest Cost of Living. Maine has a progressive income tax system that features rates that range from 5.80% to 7.15%. The cost for Assisted Living Care in Maine state averages almost $5,000 per month, (close to $60,000 a year). As of the 2010 census, the population was 122,151. Portland, Maine’s cost of living is 13% higher than the national average. A can of coke is generally $0.09 more than other states. Key findings. Maine has the 14th highest cost of living of any state. Compare the Cost of Living in Portland, Maine against another US Cities and States. Home; Cost of Living; Cost of living is a measure of the people's purchasing power in a specific location. Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials State to State or over 300+ US cities. The cost of living index of Maine was 98 for all in 2017. People living in rural areas tend to have the most challenges finding affordable housing, with 54% of seniors who rent describing themselves as being cost-burdened, according to a recent survey. Where Property taxes and Utilities are big ticket items once you retire. Spending estimates were adjusted to the state level by multiplying each cost category by its corresponding cost of living index score in each state, sourced from the Missouri Economic Research and Information Center’s 2020 Q1 cost of living index data. Tax Burden: Maine, with a tax burden of just over 10%, is the ninth highest in the country. Public trails, land preserves and access to rivers and lakes makes it easy to enjoy the state's outdoors. Annual cost of living: ... the 65-and-older expenditures from the Bureau of Labor Statistics’ 2018 Consumer Expenditure Survey by the cost-of-living index for each state from the Missouri Economic Research and Information Center’s cost-of-living series for the third quarter of 2019. Compare cost of living in Portland with factors like salaries, housing expenses, groceries, utilities and more. Cost of Living in Rockland, Maine . #7 Counties with the Lowest Cost of Living in Maine Visitor : Kennebec County is a county located in the state of Maine, in the United States. The cost of living for expatriates in Maine ME as at October 2020 is high in comparison to other places in the world, with an overall Cost of Living Index (COLI), for all 13 basket groups, of 79.96 (New York =100). See what you'll need to earn to keep your current standard of living … Let us help you discover what it's like to live in Maine. Given the high cost of living, the region has a sizable homeless population – some members of which came to the metro area from elsewhere to benefit from regional social services. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. Rockland is a city in Knox County, Maine, with a population of 7,190. Our research indicates that the average cost of assisted living in Maine surpasses average costs for the rest of the country by nearly $1,000 per month. Maine's Living Options for Seniors. The cost of living index of New Hampshire was 106 for all in 2017. If you prefer to rent a home instead, then your cost is about $1,900 per month. Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a family of 4 must earn to meet their basic needs without relying on outside help in every U.S. state. Similarly, according to a National Center for Assisted Living report, the median cost for assisted living in the United States is about $4,000 per month or $48,000 annually. The cost of a house there in this state is about $40,000 higher than the national average. You are going to pay a little extra for the privilege of living in Maine. According to Genworth Financial, the average cost of assisted living in 2018 was $4,000 per month. List of the Cons of Living in Maine. Maine (Average income: $29,703) Another repeater in its position from last year, Maine suffers from a combination of below-average incomes with above-average cost of living. Whenever I tell non-Mainers where I live, I get two responses. We have gathered data on over 20,000 assisted living facilities across America and 80 in the state of Maine. The cost of living in Maine is lower than the national average. The state with the highest cost of living index is Hawaii, whose index is 192.9. The sales tax is 5.50%. The state has a high standard deduction that helps low- and middle-income Mainers at tax time. Home values are higher in Maine than the national average. To generate detailed cost of living reports suitable for creating cost comparisons for relocating employees customized to spending patterns, please consult ERI's Relocation Assessor. Hartland is a Census-designated place in Somerset County, Maine, with a population of 803. The consumer price index (CPI) of 232 in Maine is 5.31% lower than the U.S. city average CPI of 245. Living Wage Calculation for Maine. Costs of Assisted Living in Maine. Marginal Income Tax Rates. In 2009, Maine was awarded its most humiliating honor as the whitest state. An amount below 100 means Caribou is cheaper than the US average. What's the cost of living in Portland, ME? Assisted Living in Maine . The costs vary greatly from city to city - for example, Assisted Living in Bangor, Maine costs $4,100 monthly, while those living in the Portland area pay almost $6,000 per month. Maine is gorgeous and the people are genuinely friendly, but I do miss New York's diversity. Real Mainers discuss how to make a living in Maine, where to buy a home in Maine, working in Maine, learning to love the Maine winters, meet someone in Maine, raising kids in Maine, and put down roots. The assumption is the sole provider is working full-time (2080 hours per year). 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