Farm Loop, AK is a small town located in Alaska with a close-knit community of people who share a common love for the outdoors. There are many local businesses in Farm Loop that offer great services to its locals including grocery stores, restaurants, and cafes. The cost of living in Farm Loop is relatively low with rent for 2 bedroom apartments sitting at $1,140 versus the national average of $1,430. Additionally, the Grocery Cost Index for Farm Loop is 135 compared to just 100 in the US which makes it a more affordable place for people to purchase groceries. All these factors combined make Farm Loop an ideal place to live for those who want to enjoy the natural beauty of Alaska while also having access to plenty of amenities.
Farm Loop has an unemployment rate of 7.7%. The US average is 6.0%.
Farm Loop has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 19.5%, which is lower than the US average of 33.5%.
Tax Rates for Farm Loop
- The Sales Tax Rate for Farm Loop is 0.0%. The US average is 7.3%.
- The Income Tax Rate for Farm Loop 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 Farm Loop
- The average income of a Farm Loop resident is $45,543 a year. The US average is $37,638 a year.
- The Median household income of a Farm Loop resident is $105,521 a year. The US average is $69,021 a year.