Arctic Village, AK is a small community located in the northernmost part of Alaska with a population of about 230 people. It is known for its stunning views with snow-capped mountains, pristine forests, and icy tundra. The cost of living in Arctic Village is much lower than the US average due to the lack of industries and businesses. Rent for a two bedroom apartment costs only $950 compared to $1,430 on average across the US. Grocery Cost Index in Arctic Village is 155 whereas it’s 100 in the US overall. Local companies that serve this region include Arctic Light Electric Cooperative which provides electricity and communications services, Doyon which provides jobs in oil & gas drilling, tourism, hospitality industry and transportation services. Additionally, NANA Regional Corporation supports local businesses by providing human resources such as training development; job placement; legal services; financial support; promotional activities; and more.
Arctic Village has an unemployment rate of 11.7%. The US average is 6.0%.
Arctic Village has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 13.6%, which is lower than the US average of 33.5%.
Tax Rates for Arctic Village
- The Sales Tax Rate for Arctic Village is 0.0%. The US average is 7.3%.
- The Income Tax Rate for Arctic Village is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Arctic Village
- The average income of a Arctic Village resident is $17,373 a year. The US average is $28,555 a year.
- The Median household income of a Arctic Village resident is $37,708 a year. The US average is $69,021 a year.