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 | Southeast Fairbanks Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,065 | $90,338 | $78,145 |
| Median Personal Income | $67,412 | $69,250 | $61,726 |
| Average income growth | 2.2% | 2.8% | 5.1% |
| Six-Figure Earners | 12.6% | 15.9% | 13.2% |
The median household income in Southeast Fairbanks Census Area is about 18% lower than in Alaska. Income has been growing slower in Southeast Fairbanks Census Area (2.2%/yr) than in Alaska (2.8%/yr).
About 13% of adults in Southeast Fairbanks 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 Southeast Fairbanks Census Area, Alaska grew by 25.3% from 2009 to 2023, reaching $74,065 in 2023. That's an average of about 2.2% per year.
Economic Inequality in Southeast Fairbanks Census Area | Gender Pay Gap | Gini Coefficient
| Metric | Southeast Fairbanks Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.540 | 0.570 |
| Male Median Income | $67,180 | $73,954 | $67,746 |
| Female Median Income | $67,808 | $63,633 | $54,793 |
| Gender Pay Gap | -0.9% | 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 Southeast Fairbanks Census Area, it is 0.574, higher than Alaska's 0.540, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Women's income is about 1% more than men's income in Southeast Fairbanks Census Area, Alaska.
Income by Sex Over Time
Since 2009, the income gap between men and women in Southeast Fairbanks Census Area, Alaska has narrowed from about 34% to -1% in 2023. In dollar terms, the gap has narrowed by $20,209 since 2009.
Employment
| Metric | Southeast Fairbanks Census Area | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 5.4% | 5.2% |
| Working from Home | 8.4% | 8.8% | 13.4% |
| Commute time (minutes) | 13 | 16 | 22 |
Approximately 209 people are unemployed in Southeast Fairbanks Census Area, Alaska.
The average commute time in Southeast Fairbanks Census Area is 13 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Southeast Fairbanks Census Area, Alaska has fallen from 9.5% to 6.7% in 2023.
Conclusion
Considering all these factors, Southeast Fairbanks Census Area, Alaska has an overall wealth index grade of B, making it about on par with Alaska, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Southeast Fairbanks Census Area, Alaska.
How Rich Is Southeast Fairbanks Census Area, Alaska?
Southeast Fairbanks Census Area 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 $74,065, about 18% lower than the Alaska average of $90,338.
What is the current median household income in Southeast Fairbanks Census Area, Alaska?
As of 2023, the median household income in Southeast Fairbanks Census Area, Alaska is $74,065.
What was the median household income in Southeast Fairbanks Census Area in 2023?
In 2023, the median household income in Southeast Fairbanks Census Area, Alaska was $74,065.
What was the median household income in Southeast Fairbanks Census Area in 2020?
In 2020, the median household income in Southeast Fairbanks Census Area, Alaska was $66,916.
What is the Gini coefficient in Southeast Fairbanks Census Area, Alaska?
The Gini coefficient in Southeast Fairbanks Census Area is 0.574. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Southeast Fairbanks Census Area, Alaska?
Since 2009, the income gap between men and women in Southeast Fairbanks Census Area, Alaska has narrowed from about 34% to -1% in 2023. In dollar terms, the gap has narrowed by $20,209 since 2009.