by Kristen Carney
Updated: December 17, 2024
The richest city in Alaska is Pleasant Valley in Fairbanks North Star Borough with an average household income of $182,350 as of 2023. While exceptionally affluent, Pleasant Valley only has a population of 507 as of 2023. The richest city in Alaska with at least 5,000 people is Gateway in Matanuska-Susitna Borough with an average household income of $166,988 as of 2023 and 6,716 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Pleasant Valley | Fairbanks North Star | 507 | $182,350 | $211,071 |
2 | Gateway | Matanuska-Susitna | 6,716 | $166,988 | $137,150 |
3 | Chena Ridge | Fairbanks North Star | 5,927 | $158,967 | $140,722 |
4 | King Salmon | Bristol Bay | 354 | $153,721 | $132,500 |
5 | Sterling | Kenai Peninsula | 6,776 | $151,180 | $110,341 |
6 | Steele Creek | Fairbanks North Star | 5,861 | $145,068 | $117,260 |
7 | Lake Minchumina | Yukon-Koyukuk | 14 | $135,036 | -$1 |
8 | Cooper Landing | Kenai Peninsula | 231 | $134,467 | $140,500 |
9 | Badger | Fairbanks North Star | 19,033 | $133,585 | $98,042 |
10 | Silver Springs | Copper River | 66 | $132,419 | $130,208 |
11 | Nome | Nome | 3,639 | $132,315 | $113,561 |
12 | Tazlina | Copper River | 377 | $131,385 | $120,625 |
13 | Unalaska | Aleutians West | 4,214 | $129,974 | $114,286 |
14 | Two Rivers | Fairbanks North Star | 571 | $129,442 | -$1 |
15 | Stony River | Bethel | 16 | $129,080 | $118,750 |
16 | Healy | Denali | 723 | $128,351 | $128,750 |
17 | Kaktovik | North Slope | 272 | $127,762 | $88,750 |
18 | Anchorage | Anchorage | 286,075 | $127,598 | $98,152 |
19 | Farm Loop | Matanuska-Susitna | 2,940 | $127,550 | $110,332 |
20 | Chenega | Chugach | 54 | $125,981 | -$1 |
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:
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.
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.
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.
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.
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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, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
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