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 | Kenai Peninsula Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $77,083 | $90,338 | $78,145 |
| Median Personal Income | $69,388 | $69,250 | $61,726 |
| Average income growth | 2.2% | 2.8% | 5.1% |
| Six-Figure Earners | 13.9% | 15.9% | 13.2% |
The median household income in Kenai Peninsula Borough is about 15% lower than in Alaska. Income has been growing slower in Kenai Peninsula Borough (2.2%/yr) than in Alaska (2.8%/yr).
About 14% of adults in Kenai Peninsula 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 Kenai Peninsula Borough, Alaska grew by 36.8% from 2009 to 2023, reaching $77,083 in 2023. That's an average of about 2.2% per year.
Economic Inequality in Kenai Peninsula Borough | Gender Pay Gap | Gini Coefficient
| Metric | Kenai Peninsula Borough | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.540 | 0.570 |
| Male Median Income | $80,308 | $73,954 | $67,746 |
| Female Median Income | $59,959 | $63,633 | $54,793 |
| Gender Pay Gap | 25.3% | 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 Kenai Peninsula Borough, it is 0.553, higher than Alaska's 0.540, so income is less 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 34% more than women's income in Kenai Peninsula Borough, Alaska. Over a 35-year career, a 34% wage gap accumulates to roughly $712,215 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Kenai Peninsula Borough, Alaska has narrowed from about 33% to 25% in 2023. In dollar terms, the gap has widened by $2,209 since 2009.
Employment
| Metric | Kenai Peninsula Borough | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.9% | 5.4% | 5.2% |
| Working from Home | 9.4% | 8.8% | 13.4% |
| Commute time (minutes) | 15 | 16 | 22 |
Approximately 1,858 people are unemployed in Kenai Peninsula Borough, Alaska.
The average commute time in Kenai Peninsula Borough is 15 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Kenai Peninsula Borough, Alaska has fallen from 8.4% to 6.9% in 2023.
Conclusion
Considering all these factors, Kenai Peninsula 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 Kenai Peninsula Borough, Alaska.
How Rich Is Kenai Peninsula Borough, Alaska?
Kenai Peninsula 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 $77,083, about 15% lower than the Alaska average of $90,338.
What is the current median household income in Kenai Peninsula Borough, Alaska?
As of 2023, the median household income in Kenai Peninsula Borough, Alaska is $77,083.
What was the median household income in Kenai Peninsula Borough in 2023?
In 2023, the median household income in Kenai Peninsula Borough, Alaska was $77,083.
What was the median household income in Kenai Peninsula Borough in 2020?
In 2020, the median household income in Kenai Peninsula Borough, Alaska was $69,372.
What is the Gini coefficient in Kenai Peninsula Borough, Alaska?
The Gini coefficient in Kenai Peninsula Borough is 0.553. 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 Kenai Peninsula Borough, Alaska?
Since 2009, the income gap between men and women in Kenai Peninsula Borough, Alaska has narrowed from about 33% to 25% in 2023. In dollar terms, the gap has widened by $2,209 since 2009.