The $100,000 Salary Analysis for Biddeford

1. The Verification Test

This is what a $100,000 salary actually pays you. Forget the headline; this is the math.

• Gross Annual Salary: $100,000
• Gross Monthly: $8,333

Deductions:

• Federal Tax: ~$14,000
• FICA (Social Security & Medicare): ~$7,650
• Maine State Income Tax: ~$5,100 (Est. Effective Rate ~6.5% for this bracket)

Net Pay:

• Annual Net: $73,250
• Monthly Net: $6,104

2. Smart Budget (50/30/20)

Based on your monthly net pay of $6,104.

• Needs (50% - $3,052):

  • Rent (1BR): $1,200 - $1,400 (Market Average)
  • Utilities/Electric: $150 - $200
  • Car Payment/Gas: $400 - $600
  • Groceries: $400
  • Remaining for Needs: $400 - $800 (Covers insurance, phone, etc.)

• Wants (30% - $1,831):

  • Dining out, hobbies, subscriptions, travel.
  • Reality Check: After a car repair or vet bill, this category is often raided to cover "Needs."

• Savings (20% - $1,221):

  • Emergency fund, 401k, or debt payoff.
  • Note: This is the first number to drop if your rent increases.

3. Biddeford Tax Context

Maine is a high-tax state compared to national averages.

• Vs. Texas/Florida: You are paying roughly $12,000 more per year in income tax than you would in a state with zero income tax.
• Vs. California/NY: You are paying roughly $5,000 - $8,000 less than high-tax coastal states.
• Property Tax: Biddeford's mill rate is competitive, but it does not offset the high state income tax burden on wages.

4. FAQ

"Is $100k good here?"
It is a comfortable living wage for a single person or a dual-income household. It is not "wealthy." It allows for savings and moderate wants, but a major financial setback (job loss, medical issue) wipes out your margin quickly due to the tax burden and cost of living.

"Local income tax?"
No. Biddeford does not levy a local city income tax. You only pay Maine State Tax and Federal Tax.