by Kristen Carney
Updated: June 20, 2024
The richest county in Alaska is Anchorage Municipality with an average household income of $122,032 as of 2022 and 286,075 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | Anchorage Municipality | 286,075 | $122,032 | $95,731 |
2 | Aleutians West Census Area | 5,160 | $117,300 | $100,662 |
3 | Juneau City and Borough | 31,555 | $117,189 | $95,711 |
4 | Bristol Bay Borough | 844 | $116,487 | $94,167 |
5 | North Slope Borough | 10,603 | $109,311 | $83,472 |
6 | Ketchikan Gateway Borough | 13,738 | $108,405 | $82,763 |
7 | Fairbanks North Star Borough | 94,840 | $107,852 | $81,655 |
8 | Kodiak Island Borough | 12,565 | $106,803 | $91,138 |
9 | Matanuska-Susitna Borough | 115,239 | $106,734 | $86,435 |
10 | Sitka City and Borough | 8,282 | $104,872 | $95,261 |
11 | Chugach Census Area | 6,769 | $103,289 | $83,068 |
12 | Kenai Peninsula Borough | 61,223 | $99,127 | $76,272 |
13 | Denali Borough | 1,584 | $98,536 | $87,292 |
14 | Petersburg Borough | 3,427 | $96,770 | $77,826 |
15 | Northwest Arctic Borough | 7,361 | $96,030 | $77,647 |
16 | Skagway Municipality | 1,095 | $91,563 | $79,583 |
17 | Nome Census Area | 9,763 | $89,721 | $70,121 |
18 | Yakutat City and Borough | 687 | $89,580 | $76,875 |
19 | Aleutians East Borough | 3,461 | $88,309 | $79,961 |
20 | Copper River Census Area | 2,674 | $88,145 | $70,606 |
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, 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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