Craig, AK is a small city with a population of just over 1,200 people located in Alaska's inner coastline region. It is known for its commercial fishing industry as well as being home to many timber and logging companies. The overall cost of living in Craig is higher than the US average due to its location and limited resources. Rent for a 2 bedroom apartment is $1,160 compared to an average of $1,430 in the rest of the country. Additionally, a grocery cost index of 151 (versus 100 in the US) makes food prices significantly higher than other areas. Despite this, locals can take advantage of several local businesses such as Alaska Way Logging Company, Craig Fisheries Co-op Inc., Goldbelt Wolf Pack Corporation, and Klawock Seafoods Incorporated that all provide jobs for residents and help boost the economy.
Craig has an unemployment rate of 8.8%. The US average is 6.0%.
Craig has seen the job market decrease by -2.4% 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 Craig
- The Sales Tax Rate for Craig is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Craig 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 Craig
- The average income of a Craig resident is $38,059 a year. The US average is $37,638 a year.
- The Median household income of a Craig resident is $61,875 a year. The US average is $69,021 a year.