Richest Cities in Alaska (2024)

by Kristen Carney Kristen Carney

Updated: June 20, 2024

Richest City in Alaska

The richest city in Alaska is Cooper Landing in Kenai Peninsula Borough with an average household income of $171,217 as of 2022. While exceptionally affluent, Cooper Landing only has a population of 224 as of 2023. The richest city in Alaska with at least 5,000 people is Chena Ridge in Fairbanks North Star Borough with an average household income of $153,410 as of 2022 and 5,321 people as of 2023 according to the most current Census data available (citation).

Download the newest population data for Alaska cities

Save 40+ hours of searching for data in the deep, dark internet rabbit hole, and get the most current Census income data for all Alaska cities. Sort your Excel file from the most affluent cities to the least affluent cities in Alaska with 2 mouse clicks. Download the sample below.

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20 Richest Cities in Alaska

Rank City County Population Average Income Median Income
1 Cooper Landing Kenai Peninsula 224 $171,217 $148,021
2 Chena Ridge Fairbanks North Star 5,321 $153,410 $106,688
3 Steele Creek Fairbanks North Star 6,542 $152,786 $118,934
4 Gateway Matanuska-Susitna 6,241 $150,905 $115,735
5 Sterling Kenai Peninsula 6,307 $141,993 $98,542
6 Silver Springs Copper River 106 $141,860 $125,938
7 King Salmon Bristol Bay 383 $134,910 $115,625
8 Two Rivers Fairbanks North Star 424 $134,165 -$1
9 Manley Hot Springs Yukon-Koyukuk 17 $133,233 -$1
10 Lazy Mountain Matanuska-Susitna 1,639 $132,128 $97,750
11 Pleasant Valley Fairbanks North Star 623 $132,013 -$1
12 Mill Bay Kodiak Island 3,617 $126,287 $115,409
13 Tazlina Copper River 439 $126,176 $115,156
14 Farm Loop Matanuska-Susitna 2,561 $126,009 $112,683
15 Badger Fairbanks North Star 19,182 $123,514 $87,169
16 Anchorage Anchorage 286,075 $122,032 $95,731
17 Unalaska Aleutians West 4,214 $121,897 $104,706
18 Nome Nome 3,639 $120,859 $103,542
19 Kupreanof Petersburg 19 $120,600 -$1
20 Ridgeway Kenai Peninsula 2,749 $120,559 $101,188

Median Income versus Average Income: Which Should You Use?

We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:

  • average is the sum of a set of numbers divided by the count of numbers in the set
  • median is the middle number in the set of numbers
illustation of median vs average

Now let’s say you had the following simplified set of income data.

Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000

The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.

Most Business Owners Should Use Median Income

So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.

When Should You Use Average Income

If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.

Why do so many cities have a median value of $250,001?

The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.

SOURCES

United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.

United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.

United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.

United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.

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