The $100,000 Salary Analysis for South Portland, ME

This guide provides a realistic breakdown of a $100,000 nominal salary in South Portland. We focus on net income and purchasing power, ignoring marketing fluff. Numbers are estimates based on 2023-2024 tax brackets and local data.

1. The Verification Test

A $100,000 salary is not what you take home. It is the gross amount before mandatory deductions. Here is the math for a single filer with the standard deduction.

• Gross Salary: $100,000
• Federal Tax: ~$14,000 (Effective rate ~14% after standard deduction)
• FICA (Social Security/Medicare): ~$7,650 (7.65% flat)
• Maine State Income Tax: ~$5,100 (Estimated effective rate ~5.1% for this bracket; Maine has progressive brackets up to 7.15%)

Estimated Net Pay (Annual): ~$73,250
Estimated Net Pay (Monthly): ~$6,100

2. Smart Budget (50/30/20)

Using the $6,100 monthly net pay figure.

Needs (50% / ~$3,050):

• Rent (1BR): $1,800 - $2,100 (Market average; excludes "None" placeholder).
• Utilities (Heat/Electric): $200 - $300 (High in winter).
• Groceries/Insurance: The remaining ~$650 covers auto/health premiums and food. This is tight.

Wants (30% / ~$1,830):

• Dining out, entertainment, travel.
• Reality Check: After high rent and utilities, this category is easily compromised by unexpected car repairs or heating bills.

Savings (20% / ~$1,220):

• Emergency fund, retirement contributions.
• This is a decent savings rate, but it leaves little room for aggressive investing if rent exceeds $2,000.

3. South Portland Tax Context

Maine is a high-tax state compared to the national average.

• Vs. Texas/Florida: You would save ~$12,750 annually (no state income tax). That is $1,060 more in your pocket every month.
• Vs. California/NY: Maine is significantly cheaper, but the tax burden is still heavier than the Midwest (e.g., Illinois' flat 4.95% tax).

Verdict: South Portland offers a quality of life premium, but you pay for it directly via income tax and indirectly via high cost of goods/services.

4. FAQ

Is $100k "good" here?
It is a livable wage, but it does not go far. You will live comfortably but not lavishly. You will likely rent for the foreseeable future unless you have a dual-income household. It is not "wealth building" money in this specific locale.

Local Income Tax?
No. South Portland does not levy a local income tax. Your tax burden is Federal + State + FICA.