Mill Bay, AK
Population 3,541 · Alaska
About Mill Bay, AK
Mill Bay is a small town located in Alaska with a population of 3,541 residents according to the latest US Census Bureau American Community Survey data. The median household income is $94,359 per year, which is 26% above the national median of $75,149. The median age of 35.5 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Mill Bay features a median home value of $430,600, which is 76% above the national median of $244,900. This places Mill Bay in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,777, 139% above the national average of $1,163/month. Of the 1,582 total housing units, 85% are owner-occupied (1,179 units) and 15% are renter-occupied (208 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Mill Bay shows an unemployment rate of 0.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Mill Bay have an average one-way commute time of 11.5 minutes, one of the shorter commutes in the region.
Education & Demographics
36.4% of Mill Bay residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.8% White, 19.5% Hispanic or Latino, 0.0% Black or African American, and 6.8% Asian residents, with 10.9% of the population being foreign-born.
How Mill Bay Ranks in Alaska
Cost of Living in Mill Bay, AK
Compared to national averages, Mill Bay has a median household income of $94,359 (26% above the national median of $75,149). Home values average $430,600, which is 76% above the national median. Monthly rent at $2,777 is 139% above the US average of $1,163. Within Alaska, Mill Bay's income is 39% above the state average of $67,815, and home values are 111% above the state median of $203,729.
Why Live in Mill Bay, AK?
Mill Bay offers a strong local economy with a median household income of $94,359, well above the national average, and a strong job market with an unemployment rate of just 0.9%, and a well-educated community where 36.4% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 5.7%, better than the national average, and short commute times averaging just 11.5 minutes.
Potential considerations include a competitive housing market where the typical home costs $430,600. However, Mill Bay’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Mill Bay has a population of 3,541 with a median age of 35.5 years. Compare Mill Bay with other cities to see how it stacks up, or explore all cities in Alaska.
Similar Cities Near Mill Bay
Cities in Alaska with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Nome | 3,668 | $113,561 | $338,900 | Compare |
| Petersburg | 3,346 | $76,466 | $298,500 | Compare |
| Big Lake | 3,291 | $76,292 | $286,600 | Compare |
| Goldstream | 3,238 | $92,604 | $289,600 | Compare |
| Butte | 3,905 | $105,625 | $320,100 | Compare |
| Valdez | 3,911 | $97,067 | $312,400 | Compare |
| Eielson AFB | 3,133 | $59,716 | $0 | Compare |
| Kotzebue | 3,046 | $106,328 | $264,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Alaska
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Mill Bay With Other Cities
Frequently Asked Questions about Mill Bay
What is the population of Mill Bay, AK?
The population of Mill Bay, AK is 3,541 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Alaska.
What is the median household income in Mill Bay?
The median household income in Mill Bay, AK is $94,359 per year, which is 26% above the national median of $75,149.
What is the median home value in Mill Bay?
The median home value in Mill Bay, AK is $430,600, which is 76% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Mill Bay?
The median monthly rent in Mill Bay, AK is $2,777, which is 139% above the national average of $1,163/month.
What is the unemployment rate in Mill Bay?
The unemployment rate in Mill Bay, AK is 0.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Mill Bay, AK a good place to live?
Mill Bay offers above-average incomes, a competitive housing market, and a strong job market. With a population of 3,541 and a median age of 35.5, the city appeals to a broad range of residents.
How educated is Mill Bay, AK?
36.4% of residents in Mill Bay aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Mill Bay?
Key cost-of-living indicators for Mill Bay, AK: median home value is $430,600 (76% above national), median rent is $2,777/month, and median household income is $94,359. The home-value-to-income ratio is 4.6x, a moderate figure by national standards.
What is the poverty rate in Mill Bay?
The poverty rate in Mill Bay, AK is 5.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Mill Bay, AK?
Mill Bay's population is 1.8% White, 19.5% Hispanic or Latino, 0.0% Black or African American, 6.8% Asian, and 0.1% two or more races. 10.9% of residents are foreign-born.