Wealth Index
Wealthiest county 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 | North Slope Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,678 | $90,338 | $78,145 |
| Median Personal Income | $87,402 | $69,250 | $61,726 |
| Average income growth | 2.5% | 2.8% | 5.1% |
| Six-Figure Earners | 28.6% | 15.9% | 13.2% |
The median household income in North Slope Borough is about 5% lower than in Alaska. Income has been growing slower in North Slope Borough (2.5%/yr) than in Alaska (2.8%/yr).
About 29% of adults in North Slope Borough earn six figures ($100,000 or more) a year, higher than the Alaska average of 16%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in North Slope Borough, Alaska grew by 31.2% from 2009 to 2023, reaching $85,678 in 2023. That's an average of about 2.5% per year.
Economic Inequality in North Slope Borough | Gender Pay Gap | Gini Coefficient
| Metric | North Slope Borough | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.490 | 0.540 | 0.570 |
| Male Median Income | $94,015 | $73,954 | $67,746 |
| Female Median Income | $69,542 | $63,633 | $54,793 |
| Gender Pay Gap | 26.0% | 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 North Slope Borough, it is 0.490, 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 35% more than women's income in North Slope Borough, Alaska. Over a 35-year career, a 35% wage gap accumulates to roughly $856,555 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in North Slope Borough, Alaska has widened from about 14% to 26% in 2023. In dollar terms, the gap has widened by $15,458 since 2009.
Employment
| Metric | North Slope Borough | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.6% | 5.4% | 5.2% |
| Working from Home | 4.9% | 8.8% | 13.4% |
| Commute time (minutes) | 7 | 16 | 22 |
Approximately 437 people are unemployed in North Slope Borough, Alaska.
The average commute time in North Slope Borough is 7 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in North Slope Borough, Alaska has fallen from 15.8% to 6.6% in 2023.
Conclusion
Considering all these factors, North Slope Borough, Alaska has an overall wealth index grade of A+, making it notably better than Alaska, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in North Slope Borough, Alaska.
How Rich Is North Slope Borough, Alaska?
North Slope Borough has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $85,678, about 5% lower than the Alaska average of $90,338.
What is the current median household income in North Slope Borough, Alaska?
As of 2023, the median household income in North Slope Borough, Alaska is $85,678.
What was the median household income in North Slope Borough in 2023?
In 2023, the median household income in North Slope Borough, Alaska was $85,678.
What was the median household income in North Slope Borough in 2020?
In 2020, the median household income in North Slope Borough, Alaska was $78,682.
What is the Gini coefficient in North Slope Borough, Alaska?
The Gini coefficient in North Slope Borough is 0.490. 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 North Slope Borough, Alaska?
Since 2009, the income gap between men and women in North Slope Borough, Alaska has widened from about 14% to 26% in 2023. In dollar terms, the gap has widened by $15,458 since 2009.