Goodnews Bay, AK is a small fishing village located on the Bering Sea. It is home to roughly 250 people and offers a unique and beautiful landscape of mountains, glaciers and wildlife. The cost of living in Goodnews Bay is notably higher than the US average. For example, a two-bedroom rental unit goes for around $2,830 while the average in the US is $1,430. A grocery index comparison also shows Goodnews Bay being nearly double the cost as the US at 199 versus 100. Despite its high cost of living, Goodnews Bay offers its residents some great amenities. Local companies include Arctic Wolf General Store which provides a variety of goods from groceries to hardware supplies; Commercial Fisheries Inc., which specializes in fish processing; and Goodnews Lodge & Supply Co., which provides fuel and supplies to vessels in the area.
Goodnews Bay has an unemployment rate of 12.2%. The US average is 6.0%.
Goodnews Bay has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 12.8%, which is lower than the US average of 33.5%.
Tax Rates for Goodnews Bay
- The Sales Tax Rate for Goodnews Bay is 0.0%. The US average is 7.3%.
- The Income Tax Rate for Goodnews Bay 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 Goodnews Bay
- The average income of a Goodnews Bay resident is $11,256 a year. The US average is $28,555 a year.
- The Median household income of a Goodnews Bay resident is $23,500 a year. The US average is $69,021 a year.