Wealth Index
Among the 5 least wealthy 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 | Nome Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,780 | $90,338 | $78,145 |
| Median Personal Income | $77,137 | $69,250 | $61,726 |
| Average income growth | 5.8% | 2.8% | 5.1% |
| Six-Figure Earners | 11.8% | 15.9% | 13.2% |
The median household income in Nome Census Area is about 15% lower than in Alaska. Income has been growing faster in Nome Census Area (5.8%/yr) than in Alaska (2.8%/yr).
About 12% of adults in Nome 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 Nome Census Area, Alaska grew by 39.0% from 2009 to 2023, reaching $76,780 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Nome Census Area | Gender Pay Gap | Gini Coefficient
| Metric | Nome Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.577 | 0.540 | 0.570 |
| Male Median Income | $78,963 | $73,954 | $67,746 |
| Female Median Income | $75,998 | $63,633 | $54,793 |
| Gender Pay Gap | 3.8% | 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 Nome Census Area, it is 0.577, higher than Alaska's 0.540, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 4% more than women's income in Nome Census Area, Alaska. Over a 35-year career, a 4% wage gap accumulates to roughly $103,775 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Nome Census Area, Alaska has narrowed from about -9% to 4% in 2023. In dollar terms, the gap has widened by $7,173 since 2009.
Employment
| Metric | Nome Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 15.7% | 5.4% | 5.2% |
| Working from Home | 6.3% | 8.8% | 13.4% |
| Commute time (minutes) | 5 | 16 | 22 |
Approximately 696 people are unemployed in Nome Census Area, Alaska.
The average commute time in Nome Census Area is 5 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Nome Census Area, Alaska has fallen from 16.7% to 15.7% in 2023.
Conclusion
Considering all these factors, Nome Census Area, Alaska has an overall wealth index grade of C, making it somewhat worse than Alaska, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Nome Census Area, Alaska.
How Rich Is Nome Census Area, Alaska?
Nome Census Area has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $76,780, about 15% lower than the Alaska average of $90,338.
What is the current median household income in Nome Census Area, Alaska?
As of 2023, the median household income in Nome Census Area, Alaska is $76,780.
What was the median household income in Nome Census Area in 2023?
In 2023, the median household income in Nome Census Area, Alaska was $76,780.
What was the median household income in Nome Census Area in 2020?
In 2020, the median household income in Nome Census Area, Alaska was $63,924.
What is the Gini coefficient in Nome Census Area, Alaska?
The Gini coefficient in Nome Census Area is 0.577. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Nome Census Area, Alaska?
Since 2009, the income gap between men and women in Nome Census Area, Alaska has narrowed from about -9% to 4% in 2023. In dollar terms, the gap has widened by $7,173 since 2009.