Maine Quality of Life
Expect the best in Maine

Maine stands as a cherished haven for those seeking a fulfilling and tranquil way of life, boasting a vibrant business landscape and enticing prospects for those eyeing a second home nestled in the mountains, beside pristine lakes, or along its captivating 3,500-mile coastline. The real estate opportunities in Maine are as diverse as the state’s landscapes, catering to various preferences in terms of location, pricing, and local amenities.

Notably, Maine has earned its reputation as one of the healthiest states in the nation, placing an emphasis on overall well-being and quality of life. This pivotal consideration should factor prominently in any relocation decision.

Relocating can be a daunting endeavor, often accompanied by stress. To navigate this transitional period successfully, it is imperative to gain a comprehensive understanding of the dynamics of your new community. The information provided below will serve as a valuable resource to enhance your awareness of the exceptional offerings that Southern Maine brings to the table.

Four Seasons

Maine’s four distinct seasons stand as one of the state’s most captivating features, each delivering a distinct and enchanting array of experiences for both its cherished residents and enthusiastic visitors.

During the summer, Maine’s temperate climate ushers in a season of boundless outdoor delights. The gentle warmth beckons adventurers and nature enthusiasts to embark on exhilarating hikes through lush forests, take refreshing dips in crystal-clear lakes, and embark on coastal escapades exploring the charming beach towns that dot the picturesque shoreline.

As the calendar turns to fall, Maine undergoes a mesmerizing transformation. The state’s foliage puts on a dazzling display, with leaves transitioning into a vivid spectrum of oranges, yellows, and fiery reds, creating an autumnal masterpiece.

Winter brings snow and cold temperatures, perfect for skiing, snowmobiling, and other winter sports. Finally, spring brings renewal, with the return of lush greenery and wildlife after a long winter. Overall, Maine’s four seasons provide a diverse and engaging climate throughout the year.

Cost of Living

Maine is a geographically diverse state, and as such the cost of living varies greatly from north to south. The Greater Portland metropolitan area is the most densely populated with nearly 20% of Maine’s population.

The cost of living in Maine is 15.0% higher than it is on average nationwide, according to the Composite Cost of Living Index published by the MERIC. Overall, the cost of living in Maine ranks as the 12th highest among states.

The income tax system in Maine is progressive, with a bottom rate of 5.80% and a top marginal rate of 7.15%.s.

Among the five distinct consumer categories considered in this comprehensive index – namely groceries, housing, utilities, transportation, and health care – it is evident that housing stands out as the most notable expenditure in Maine when compared to national averages. Remarkably, the cost of housing in the state surpasses the national average by approximately 36.6%, making it a significant financial consideration for residents and newcomers alike.

On the other end of the spectrum, when it comes to the cost of daily essentials, groceries emerge as the more budget-friendly option in Maine. Surprisingly, grocery prices in the state are only about 2.2% higher than the nationwide average, presenting a relatively minor deviation in comparison to other categories.

Maine Economy

In 2022, the state of Maine has a population of 1,382,641, having grown an annualized 0.7% over the five years to 2022, which ranks it 19th out of all 50 US states by growth rate. Maine’s gross state product (GSP) in 2022 reached $62.7b, with growth of 2.0% over the 5 years to 2022. As of the first quarter of 2023 the rate of GDP growth was 1.6&. Businesses in Maine employed a total of 672,969 people in 2022, with average annual employment growth over the past five years of 0.4%.

The top three sectors by total employment are Real Estate and Rental and Leasing, Healthcare and Social Assistance, Manufacturing, while the unemployment rate across the state in 2022 was 3.6%. Maine employed 672,969 people in 2022, which ranks it 41st out of all 50 US states.

Employment in Maine has grown at an annualized rate of 2.6% over the five years to 2022, underperforming the national average of 3.7%. Major sectors by employment in Maine include Healthcare and Social Assistance, Retail Trade and Educational Services, which employed 121,869, 97,123 and 62,268 people in 2022, respectively. Maine’s unemployment rate is 3.6% in 2022, which ranks it 27th out of 50 states. Maine’s unemployment rate has trended upwards at a rate of 1.4% over the five years to 2022, underperforming the US economy as a whole.

Buy Local

The unwavering support of its local residents proves to be a significant advantage for small businesses in Maine. In conversations with entrepreneurs, it becomes evident that Maine embodies this community spirit wholeheartedly. The state’s residents demonstrate a genuine preference for locally-sourced goods and services, underpinned by a sincere curiosity about the individuals who stand behind the shop counters.

Maine, in many ways, stands as a timeless ode to the quintessential charm of small-town Americana, where the bonds between businesses and their customers are deeply personal and foster a thriving ecosystem for local entrepreneurs.