Goodwell, OK is a small town located in the north-western part of the state. It offers a low cost of living with 2 bedroom rent prices averaging at $930 per month, which is significantly lower than the national average of $1,430. Additionally, Goodwell's Grocery Cost Index of 90 is 10 points below the US average of 100. This makes it an ideal place for budget conscious people to live. The local economy consists primarily of retail and agriculture businesses. Popular companies in Goodwell include Goodwell Oil & Gas Industries, Smith Farms Produce, Clay's Auto Shop and Meyer's Hardware Store. People who live in Goodwell can enjoy its small-town charm and affordable living costs.
Goodwell has an unemployment rate of 1.6%. The US average is 6.0%.
Goodwell has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 15.6%, which is lower than the US average of 33.5%.
Tax Rates for Goodwell
- The Sales Tax Rate for Goodwell is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Goodwell is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Goodwell
- The average income of a Goodwell resident is $16,628 a year. The US average is $28,555 a year.
- The Median household income of a Goodwell resident is $55,750 a year. The US average is $69,021 a year.