Wealth Index
Among the 3 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 | Northwest Arctic Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,357 | $90,338 | $78,145 |
| Median Personal Income | $72,024 | $69,250 | $61,726 |
| Average income growth | 4.0% | 2.8% | 5.1% |
| Six-Figure Earners | 12.3% | 15.9% | 13.2% |
The median household income in Northwest Arctic Borough is about 11% lower than in Alaska. Income has been growing faster in Northwest Arctic Borough (4.0%/yr) than in Alaska (2.8%/yr).
About 12% of adults in Northwest Arctic 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 Northwest Arctic Borough, Alaska grew by 40.3% from 2009 to 2023, reaching $80,357 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Northwest Arctic Borough | Gender Pay Gap | Gini Coefficient
| Metric | Northwest Arctic Borough | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.614 | 0.540 | 0.570 |
| Male Median Income | $69,158 | $73,954 | $67,746 |
| Female Median Income | $74,948 | $63,633 | $54,793 |
| Gender Pay Gap | -8.4% | 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 Northwest Arctic Borough, it is 0.614, 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.
Women's income is about 8% more than men's income in Northwest Arctic Borough, Alaska. Over a 35-year career, a 8% wage gap accumulates to roughly $202,650 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Northwest Arctic Borough, Alaska has narrowed from about 32% to -8% in 2023. In dollar terms, the gap has narrowed by $26,256 since 2009.
Employment
| Metric | Northwest Arctic Borough | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 16.3% | 5.4% | 5.2% |
| Working from Home | 6.2% | 8.8% | 13.4% |
| Commute time (minutes) | 5 | 16 | 22 |
Approximately 488 people are unemployed in Northwest Arctic Borough, Alaska.
The average commute time in Northwest Arctic Borough is 5 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Northwest Arctic Borough, Alaska has fallen from 20.0% to 16.3% in 2023.
Conclusion
Considering all these factors, Northwest Arctic Borough, Alaska has an overall wealth index grade of D, making it somewhat worse than Alaska, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Northwest Arctic Borough, Alaska.
How Rich Is Northwest Arctic Borough, Alaska?
Northwest Arctic Borough has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $80,357, about 11% lower than the Alaska average of $90,338.
What is the current median household income in Northwest Arctic Borough, Alaska?
As of 2023, the median household income in Northwest Arctic Borough, Alaska is $80,357.
What was the median household income in Northwest Arctic Borough in 2023?
In 2023, the median household income in Northwest Arctic Borough, Alaska was $80,357.
What was the median household income in Northwest Arctic Borough in 2020?
In 2020, the median household income in Northwest Arctic Borough, Alaska was $63,940.
What is the Gini coefficient in Northwest Arctic Borough, Alaska?
The Gini coefficient in Northwest Arctic Borough is 0.614. 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 Northwest Arctic Borough, Alaska?
Since 2009, the income gap between men and women in Northwest Arctic Borough, Alaska has narrowed from about 32% to -8% in 2023. In dollar terms, the gap has narrowed by $26,256 since 2009.