Wealth Index
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 | Haines Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,867 | $90,338 | $78,145 |
| Median Personal Income | $65,214 | $69,250 | $61,726 |
| Average income growth | 3.8% | 2.8% | 5.1% |
| Six-Figure Earners | 14.3% | 15.9% | 13.2% |
The median household income in Haines Borough is about 23% lower than in Alaska. Income has been growing faster in Haines Borough (3.8%/yr) than in Alaska (2.8%/yr).
About 14% of adults in Haines Borough 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 Haines Borough, Alaska grew by 59.6% from 2009 to 2023, reaching $69,867 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Haines Borough | Gender Pay Gap | Gini Coefficient
| Metric | Haines Borough | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.467 | 0.540 | 0.570 |
| Male Median Income | $81,547 | $73,954 | $67,746 |
| Female Median Income | $52,703 | $63,633 | $54,793 |
| Gender Pay Gap | 35.4% | 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 Haines Borough, it is 0.467, 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 55% more than women's income in Haines Borough, Alaska. Over a 35-year career, a 55% wage gap accumulates to roughly $1,009,540 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Haines Borough, Alaska has widened from about -17% to 35% in 2023. In dollar terms, the gap has widened by $35,160 since 2009.
Employment
| Metric | Haines Borough | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 5.4% | 5.2% |
| Working from Home | 9.7% | 8.8% | 13.4% |
| Commute time (minutes) | 7 | 16 | 22 |
Approximately 42 people are unemployed in Haines Borough, Alaska.
The average commute time in Haines Borough is 7 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Haines Borough, Alaska has fallen from 9.9% to 4.6% in 2023.
Conclusion
Considering all these factors, Haines Borough, Alaska has an overall wealth index grade of B, making it about on par with Alaska, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Haines Borough, Alaska.
How Rich Is Haines Borough, Alaska?
Haines 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 $69,867, about 23% lower than the Alaska average of $90,338.
What is the current median household income in Haines Borough, Alaska?
As of 2023, the median household income in Haines Borough, Alaska is $69,867.
What was the median household income in Haines Borough in 2023?
In 2023, the median household income in Haines Borough, Alaska was $69,867.
What was the median household income in Haines Borough in 2020?
In 2020, the median household income in Haines Borough, Alaska was $64,836.
What is the Gini coefficient in Haines Borough, Alaska?
The Gini coefficient in Haines Borough is 0.467. 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 Haines Borough, Alaska?
Since 2009, the income gap between men and women in Haines Borough, Alaska has widened from about -17% to 35% in 2023. In dollar terms, the gap has widened by $35,160 since 2009.