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 | Ketchikan Gateway Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,148 | $90,338 | $78,145 |
| Median Personal Income | $67,009 | $69,250 | $61,726 |
| Average income growth | 4.9% | 2.8% | 5.1% |
| Six-Figure Earners | 14.9% | 15.9% | 13.2% |
The median household income in Ketchikan Gateway Borough is about 1% lower than in Alaska. Income has been growing faster in Ketchikan Gateway Borough (4.9%/yr) than in Alaska (2.8%/yr).
About 15% of adults in Ketchikan Gateway 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 Ketchikan Gateway Borough, Alaska grew by 53.3% from 2009 to 2023, reaching $89,148 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Ketchikan Gateway Borough | Gender Pay Gap | Gini Coefficient
| Metric | Ketchikan Gateway Borough | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.510 | 0.540 | 0.570 |
| Male Median Income | $72,209 | $73,954 | $67,746 |
| Female Median Income | $60,364 | $63,633 | $54,793 |
| Gender Pay Gap | 16.4% | 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 Ketchikan Gateway Borough, it is 0.510, 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 20% more than women's income in Ketchikan Gateway Borough, Alaska. Over a 35-year career, a 20% wage gap accumulates to roughly $414,575 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ketchikan Gateway Borough, Alaska has narrowed from about 31% to 16% in 2023. In dollar terms, the gap has narrowed by $5,261 since 2009.
Employment
| Metric | Ketchikan Gateway Borough | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 5.4% | 5.2% |
| Working from Home | 4.7% | 8.8% | 13.4% |
| Commute time (minutes) | 12 | 16 | 22 |
Approximately 248 people are unemployed in Ketchikan Gateway Borough, Alaska.
The average commute time in Ketchikan Gateway Borough is 12 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ketchikan Gateway Borough, Alaska has fallen from 7.6% to 3.4% in 2023.
Conclusion
Considering all these factors, Ketchikan Gateway 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 Ketchikan Gateway Borough, Alaska.
How Rich Is Ketchikan Gateway Borough, Alaska?
Ketchikan Gateway 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 $89,148, about 1% lower than the Alaska average of $90,338.
What is the current median household income in Ketchikan Gateway Borough, Alaska?
As of 2023, the median household income in Ketchikan Gateway Borough, Alaska is $89,148.
What was the median household income in Ketchikan Gateway Borough in 2023?
In 2023, the median household income in Ketchikan Gateway Borough, Alaska was $89,148.
What was the median household income in Ketchikan Gateway Borough in 2020?
In 2020, the median household income in Ketchikan Gateway Borough, Alaska was $74,636.
What is the Gini coefficient in Ketchikan Gateway Borough, Alaska?
The Gini coefficient in Ketchikan Gateway Borough is 0.510. 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 Ketchikan Gateway Borough, Alaska?
Since 2009, the income gap between men and women in Ketchikan Gateway Borough, Alaska has narrowed from about 31% to 16% in 2023. In dollar terms, the gap has narrowed by $5,261 since 2009.