Thorne Bay, AK is a small community located on Prince of Wales Island in Southeast Alaska. It has a population of about 630 people and is considered a rural area. The two bedroom rent in Thorne Bay is $1,030 which is much lower than the national average of $1,430. Furthermore, the Grocery Cost Index in Thorne Bay is 148 compared to 100 nationally showing that prices for groceries are higher there than the US average.
The economy of Thorne Bay revolves around its fishing industry as well as logging and other forestry related activities. Given its remote location, most of the businesses and services in town are locally owned and operated such as Prince of Wales General Store, Thorne River Logging Inc., and Tondee's Seafoods.
Thorne Bay has an unemployment rate of 8.8%. The US average is 6.0%.
Thorne Bay has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Thorne Bay
- The Sales Tax Rate for Thorne Bay is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Thorne 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 Thorne Bay
- The average income of a Thorne Bay resident is $31,953 a year. The US average is $28,555 a year.
- The Median household income of a Thorne Bay resident is $49,583 a year. The US average is $69,021 a year.