Wealth Index
Among the top 3 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 | Chugach Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,596 | $90,338 | $78,145 |
| Median Personal Income | $61,220 | $69,250 | $61,726 |
| Average income growth | 0.2% | 2.8% | 5.1% |
| Six-Figure Earners | 8.6% | 15.9% | 13.2% |
The median household income in Chugach Census Area is about 1% lower than in Alaska. Income has been growing slower in Chugach Census Area (0.2%/yr) than in Alaska (2.8%/yr).
About 9% of adults in Chugach Census Area earn six figures ($100,000 or more) a year, lower than the Alaska average of 16%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Chugach Census Area, Alaska grew by 45.2% from 2009 to 2023, reaching $89,596 in 2023. That's an average of about 0.2% per year.
Economic Inequality in Chugach Census Area | Gender Pay Gap | Gini Coefficient
| Metric | Chugach Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.513 | 0.540 | 0.570 |
| Male Median Income | $64,002 | $73,954 | $67,746 |
| Female Median Income | $58,390 | $63,633 | $54,793 |
| Gender Pay Gap | 8.8% | 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 Chugach Census Area, it is 0.513, 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 10% more than women's income in Chugach Census Area, Alaska. Over a 35-year career, a 10% wage gap accumulates to roughly $196,420 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Chugach Census Area, Alaska has stayed about the same since 2009, at around 9%. In dollar terms, the gap has widened by $1,751 since 2009.
Employment
| Metric | Chugach Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.5% | 5.4% | 5.2% |
| Working from Home | 3.6% | 8.8% | 13.4% |
| Commute time (minutes) | 6 | 16 | 22 |
Approximately 137 people are unemployed in Chugach Census Area, Alaska.
The average commute time in Chugach Census Area is 6 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Chugach Census Area, Alaska has risen from 7.6% to 10.5% in 2023.
Conclusion
Considering all these factors, Chugach Census Area, 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 Chugach Census Area, Alaska.
How Rich Is Chugach Census Area, Alaska?
Chugach Census Area 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 $89,596, about 1% lower than the Alaska average of $90,338.
What is the current median household income in Chugach Census Area, Alaska?
As of 2023, the median household income in Chugach Census Area, Alaska is $89,596.
What was the median household income in Chugach Census Area in 2023?
In 2023, the median household income in Chugach Census Area, Alaska was $89,596.
What was the median household income in Chugach Census Area in 2020?
In 2020, the median household income in Chugach Census Area, Alaska was $96,286.
What is the Gini coefficient in Chugach Census Area, Alaska?
The Gini coefficient in Chugach Census Area is 0.513. 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 Chugach Census Area, Alaska?
The income gap between men and women in Chugach Census Area, Alaska has stayed about the same since 2009, at around 9%. In dollar terms, the gap has widened by $1,751 since 2009.