The $100,000 Salary Analysis for Augusta, ME

1. The Verification Test

A $100,000 nominal salary is not your take-home pay. Here is the realistic breakdown for a single filer in 2024 (standard deduction, no dependents):

• Gross Salary: $100,000
• Federal Tax: ~$13,650 (Marginal bracket: 24%)
• FICA (Social Security/Medicare): $7,650
• Maine State Income Tax: ~$5,100 (Graduated bracket, tops out at 6.6% for this income)
• Estimated Net Pay (Annual): $73,600
• Estimated Net Pay (Monthly): $6,133

Purchasing Power: You are earning less than $74k to spend.

2. Smart Budget (50/30/20)

Using your monthly net of $6,133:

• Needs (50% - $3,066):

  • Rent (1BR): $1,100 - $1,300 (Market average).
  • Utilities/Heat: $200 - $300 (Maine winters are expensive).
  • Groceries/Transport: $800 - $1,000.
  • Remaining for Needs: $600 - $1,000 buffer.

• Wants (30% - $1,839):

  • Dining out, entertainment, subscriptions.
  • Reality Check: This category absorbs the cost of Maine's generally higher consumer goods prices.

• Savings (20% - $1,226):

  • Emergency fund, 401k, or debt repayment.

3. Augusta Tax Context

Maine is High-Tax.

• Vs. Texas/Florida (0% State Income Tax):

  • You save $5,100 annually.
  • Your take-home increases to $78,700.
  • That is $425 extra per month in your pocket.

• Vs. California/NY:

  • Augusta is cheaper, but CA/NY offer higher nominal salaries to offset taxes. A $100k salary in Augusta provides a middle-class lifestyle; in NYC, it is barely livable.

4. FAQ

"Is $100k good here?"
It is a strong salary for Augusta, ME. It allows for a comfortable single lifestyle and the ability to save. However, it does not make you "rich." You will still budget carefully for heating oil and property taxes if you buy a home.

"Local income tax?"
No. Augusta has no local earned income tax. You only pay the State of Maine rate.