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 | Yakutat City and Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,065 | $90,338 | $78,145 |
| Median Personal Income | $85,000 | $69,250 | $61,726 |
| Average income growth | 4.1% | 2.8% | 5.1% |
| Six-Figure Earners | 16.3% | 15.9% | 13.2% |
The median household income in Yakutat City and Borough is about 9% lower than in Alaska. Income has been growing faster in Yakutat City and Borough (4.1%/yr) than in Alaska (2.8%/yr).
About 16% of adults in Yakutat City and Borough 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 Yakutat City and Borough, Alaska grew by 24.4% from 2009 to 2023, reaching $82,065 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Yakutat City and Borough | Gender Pay Gap | Gini Coefficient
| Metric | Yakutat City and Borough | Alaska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.471 | 0.540 | 0.570 |
| Male Median Income | $88,055 | $73,954 | $67,746 |
| Female Median Income | $75,833 | $63,633 | $54,793 |
| Gender Pay Gap | 13.9% | 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 Yakutat City and Borough, it is 0.471, 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 16% more than women's income in Yakutat City and Borough, Alaska. Over a 35-year career, a 16% wage gap accumulates to roughly $427,770 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Yakutat City and Borough, Alaska has widened from about 5% to 14% in 2023. In dollar terms, the gap has widened by $9,776 since 2009.
Employment
| Metric | Yakutat City and Borough | Alaska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.4% | 5.4% | 5.2% |
| Working from Home | 10.3% | 8.8% | 13.4% |
| Commute time (minutes) | 6 | 16 | 22 |
Approximately 4 people are unemployed in Yakutat City and Borough, Alaska.
The average commute time in Yakutat City and Borough is 6 minutes, shorter than the 16 minutes in Alaska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Yakutat City and Borough, Alaska has fallen from 4.4% to 1.4% in 2023.
Conclusion
Considering all these factors, Yakutat City and Borough, 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 Yakutat City and Borough, Alaska.
How Rich Is Yakutat City and Borough, Alaska?
Yakutat City and Borough 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 $82,065, about 9% lower than the Alaska average of $90,338.
What is the current median household income in Yakutat City and Borough, Alaska?
As of 2023, the median household income in Yakutat City and Borough, Alaska is $82,065.
What was the median household income in Yakutat City and Borough in 2023?
In 2023, the median household income in Yakutat City and Borough, Alaska was $82,065.
What was the median household income in Yakutat City and Borough in 2020?
In 2020, the median household income in Yakutat City and Borough, Alaska was $58,582.
What is the Gini coefficient in Yakutat City and Borough, Alaska?
The Gini coefficient in Yakutat City and Borough is 0.471. 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 Yakutat City and Borough, Alaska?
Since 2009, the income gap between men and women in Yakutat City and Borough, Alaska has widened from about 5% to 14% in 2023. In dollar terms, the gap has widened by $9,776 since 2009.