Mat-Su ahead in net worth, population and job growth

PALMER — Residents of the Matanuska-Susitna Borough have the highest net worth in Alaska, according to a recent analysis from the finance advice website SmartAsset.

Net worth is determined by subtracting the amount of debt a person has – such as mortgages and car loans – from the value of all of their assets, including belongings, investments, real estate and cash.

Mat-Su residents, the analysis found, have an average net worth of about $49,000, about $11,000 more than the next highest net worth location in the state, the Kenai Peninsula, and $19,000 more than the net worth of the average Anchorage resident.

The analysis is based off 2015 U.S. Census Bureau Data.

AJ Smith, SmartAsset’s vice president for financial education, said understanding net worth can help Borough residents get a handle on what, if any, steps they need to take to ensure their financial futures. Comparing your personal net worth to what is normal in your community or state can help you figure out where you should be, she said.

“We’re looking… so we can kind of see where you fall compared to the average person in your community,” Smith said. “I think it can be a motivating factor for sure and it can give you a point of reference to think about.”

Meanwhile, a new report form the Alaska Department of Labor and Workforce Development shows that the Mat-Su is one of the few places in the state in 2016 to both add jobs and gain more residents than it lost due to migration out of state.

The Borough had about 460 more jobs in 2016 compared to 2015, according to the data, with the majority of those in the healthcare or hospitality industries. And while the majority of Alaska’s boroughs had an overall loss of residents with more people moving out than moving in, the Matanuska Borough’s population grew over 2.6 percent between 2015 and 2016, according to the statistics.