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 | Sitka | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $101,979 | $90,338 | $78,145 |
| Median Personal Income | $65,635 | $69,250 | $61,726 |
| Average income growth | 5.4% | 2.8% | 5.1% |
| Six-Figure Earners | 16.0% | 15.9% | 13.2% |
The median household income in Sitka is about 13% higher than in Alaska. Income has been growing faster in Sitka (5.4%/yr) than in Alaska (2.8%/yr).
About 16% of adults in Sitka earn six figures ($100,000 or more) a year, about the same as the Alaska average of 16%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Sitka, Alaska grew by 76.7% from 2009 to 2023, reaching $101,979 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Sitka | Gender Pay Gap | Gini Coefficient
| Metric | Sitka | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.482 | 0.540 | 0.570 |
| Male Median Income | $70,159 | $73,954 | $67,746 |
| Female Median Income | $58,994 | $63,633 | $54,793 |
| Gender Pay Gap | 15.9% | 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 Sitka, it is 0.482, 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 19% more than women's income in Sitka, Alaska. Over a 35-year career, a 19% wage gap accumulates to roughly $390,775 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sitka, Alaska has narrowed from about 17% to 16% in 2023. In dollar terms, the gap has widened by $1,261 since 2009.
Employment
| Metric | Sitka | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.6% | 5.4% | 5.2% |
| Working from Home | 7.9% | 8.8% | 13.4% |
| Commute time (minutes) | 10 | 16 | 22 |
Approximately 326 people are unemployed in Sitka, Alaska.
The average commute time in Sitka is 10 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sitka, Alaska has risen from 6.2% to 6.6% in 2023.
Conclusion
Considering all these factors, Sitka, 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 Sitka, Alaska.
How Rich Is Sitka, Alaska?
Sitka 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 $101,979, about 13% higher than the Alaska average of $90,338.
What is the current median household income in Sitka, Alaska?
As of 2023, the median household income in Sitka, Alaska is $101,979.
What was the median household income in Sitka in 2023?
In 2023, the median household income in Sitka, Alaska was $101,979.
What was the median household income in Sitka in 2020?
In 2020, the median household income in Sitka, Alaska was $79,433.
What is the Gini coefficient in Sitka, Alaska?
The Gini coefficient in Sitka is 0.482. 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 Sitka, Alaska?
Since 2009, the income gap between men and women in Sitka, Alaska has narrowed from about 17% to 16% in 2023. In dollar terms, the gap has widened by $1,261 since 2009.