Wealth Index
Among the top 5 wealthiest counties in Alaska
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Bristol Bay Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $101,013 | $90,338 | $78,145 |
| Median Personal Income | $62,829 | $69,250 | $61,726 |
| Average income growth | 2.9% | 2.8% | 5.1% |
| Six-Figure Earners | 24.3% | 15.9% | 13.2% |
The median household income in Bristol Bay Borough is about 12% higher than in Alaska. Income has been growing faster in Bristol Bay Borough (2.9%/yr) than in Alaska (2.8%/yr).
About 24% of adults in Bristol Bay Borough earn six figures ($100,000 or more) a year, higher than the Alaska average of 16%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bristol Bay Borough, Alaska grew by 58.9% from 2009 to 2023, reaching $101,013 in 2023. That's an average of about 2.9% per year.
Economic Inequality in Bristol Bay Borough | Gender Pay Gap | Gini Coefficient
| Metric | Bristol Bay Borough | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.499 | 0.540 | 0.570 |
| Male Median Income | $65,999 | $73,954 | $67,746 |
| Female Median Income | $58,809 | $63,633 | $54,793 |
| Gender Pay Gap | 10.9% | 14.0% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Bristol Bay Borough, it is 0.499, lower than Alaska's 0.540, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 12% more than women's income in Bristol Bay Borough, Alaska. Over a 35-year career, a 12% wage gap accumulates to roughly $251,650 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bristol Bay Borough, Alaska has widened from about 8% to 11% in 2023. In dollar terms, the gap has widened by $2,498 since 2009.
Employment
| Metric | Bristol Bay Borough | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 5.4% | 5.2% |
| Working from Home | 8.8% | 8.8% | 13.4% |
| Commute time (minutes) | 7 | 16 | 22 |
Approximately 18 people are unemployed in Bristol Bay Borough, Alaska.
The average commute time in Bristol Bay Borough is 7 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bristol Bay Borough, Alaska has fallen from 9.1% to 3.9% in 2023.
Conclusion
Considering all these factors, Bristol Bay Borough, Alaska has an overall wealth index grade of B, making it somewhat better than Alaska, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bristol Bay Borough, Alaska.
How Rich Is Bristol Bay Borough, Alaska?
Bristol Bay Borough has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $101,013, about 12% higher than the Alaska average of $90,338.
What is the current median household income in Bristol Bay Borough, Alaska?
As of 2023, the median household income in Bristol Bay Borough, Alaska is $101,013.
What was the median household income in Bristol Bay Borough in 2023?
In 2023, the median household income in Bristol Bay Borough, Alaska was $101,013.
What was the median household income in Bristol Bay Borough in 2020?
In 2020, the median household income in Bristol Bay Borough, Alaska was $83,854.
What is the Gini coefficient in Bristol Bay Borough, Alaska?
The Gini coefficient in Bristol Bay Borough is 0.499. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Bristol Bay Borough, Alaska?
Since 2009, the income gap between men and women in Bristol Bay Borough, Alaska has widened from about 8% to 11% in 2023. In dollar terms, the gap has widened by $2,498 since 2009.