Cordova, Unalaska, Juneau: These cities aren’t just some of the best places to live in Alaska. They are also home to some of the richest people in the Last Frontier.
Cordova in particular houses the richest residents in the state thanks, in part, to a median household income of $107,771 and a ridiculously low poverty rate of 4.2%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Alaska share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 23 places in Alaska with more than 2,000 people.
At the end of the day, here’s the set of the 10 richest places in Alaska for 2018:
- Cordova (Photos | Homes)
- Unalaska (Photos | Homes)
- Juneau (Photos | Homes)
- Anchorage (Photos | Homes)
- Dillingham (Photos | Homes)
- Sitka (Photos | Homes)
- Seward (Photos | Homes)
- Valdez (Photos | Homes)
- Kodiak (Photos | Homes)
- Soldotna (Photos | Homes)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Alaska.
How We Determined The Richest Places In Alaska For 2018
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the ‘richest places’. So we looked at this set of criteria from the newly released 2012-2016 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 23 places with more than 2,000 people in Alaska, we ranked each place from 1 to 23 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a ‘Rich Score’ with the place having the lowest overall Rich Score, Cordova, crowned the ‘Richest Place In Alaska For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 23 places.
Population: 32,524Median Income: $87,436
Unemployment Rate: 4.9%
Poverty Rate: 7.4%
More on Juneau: Real Estate | Data
The City and Borough of Juneau (/duno/ JOO-noh; Tlingit: Dzánti K’ihéeni [tsántì kìhínì]), commonly known as Juneau, is the capital city of Alaska. It is a unified municipality located on the Gastineau Channel in the Alaskan panhandle, and it is the second largest city in the United States by area. Juneau has been the capital of Alaska since 1906, when the government of what was then the District of Alaska was moved from Sitka as dictated by the U.S. Congress in 1900. The municipality unified on July 1, 1970, when the city of Juneau merged with the city of Douglas and the surrounding Greater Juneau Borough to form the current municipality, which is larger by area than both Rhode Island and Delaware.
Population: 299,321Median Income: $80,862
Unemployment Rate: 6.0%
Poverty Rate: 8.1%
More on Anchorage: Real Estate | Data
Anchorage (officially called the Municipality of Anchorage) (Dena’ina Athabascan: Dgheyaytnu) is a unified home rule municipality in the U.S. state of Alaska. With an estimated 298,192 residents in 2016, it is Alaska’s most populous city and contains more than 40 percent of the state’s total population; among the 50 states, only New York has a higher percentage of residents who live in its most populous city. All together, the Anchorage metropolitan area, which combines Anchorage with the neighboring Matanuska-Susitna Borough, had a population of 401,635 in 2016, which accounts for more than half of the state’s population.
Population: 8,921Median Income: $70,160
Unemployment Rate: 4.5%
Poverty Rate: 9.0%
More on Sitka: Real Estate | Data
The City and Borough of Sitka (Tlingit: Sheetká), formerly Novo-Arkhangelsk, or New Archangel under Russian rule (Russian: – or a, t Novoarkhangelsk), is a unified city-borough located on Baranof Island and the southern half of Chichagof Island in the Alexander Archipelago of the Pacific Ocean (part of the Alaska Panhandle), in the U.S. state of Alaska. As of the 2010 census, the population was 8,881. In terms of land area, it is the largest city-borough in the U.S., with a land area of 2,870.3 square miles (7,434 square kilometres) and a total area (including water area) of 4,811.4 square miles (12,461 square kilometres); however, it is the smallest of Alaska’s boroughs. Urban Sitka, the part that is usually thought of as the ‘city’ of Sitka, is on the west side of Baranof Island.
Population: 6,272Median Income: $67,571
Unemployment Rate: 2.4%
Poverty Rate: 10.6%
More on Kodiak: Real Estate | Data
Kodiak (Alutiiq: Sun’aq; Russian: , tr. Kadyak) is one of seven communities and the main city on Kodiak Island, Kodiak Island Borough, in the U.S. state of Alaska. All commercial transportation between the entire island and the outside world goes through this city either via ferryboat or airline. The population was 6,130 as of the 2010 census. 2014 estimates put the population at 6,304.
There You Have It – The Wealthiest Places In Alaska For 2018
Like we said earlier, when we set out to identify the richest places in Alaska, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Alaska.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Alaska, according to data:
2nd Poorest: Wasilla
3rd Poorest: Ketchikan
For more Alaska reading , check out:
Detailed List Of The Richest Cities In Alaska