That compares to a median income of $64,333 for Alaskans and $50,740 for Americans in 2007, according to the Census Bureau. But in Alaska, scarce roads make private planes commonplace, it's typical to spend a month or two fishing commercially, and wilderness acreage is so plentiful the state has sold loads' worth stake-your-claim style. So, it's often the finer points that matter: How old is the airplane? Where exactly is the fishing spot? Is the house on a paved road?

Land itself doesn't necessarily translate to wealth, said Tom Hawkins of Anchorage, who paid about $2,000 for a five-acre parcel miles from the nearest road, best reached by snowmachine.

"I've got a stunning parcel overlooking a river," Hawkins said. "I took my wife to it. And she stood up and looked out at the stunning view and said, 'Dear, what are we going to do with it?"' The Palins' main residence, a large two-story house on Lake Lucille in Wasilla, draws much of its value from its prime position along a paved road and float-plane accessible lake, said Darcie Salmon, a local real estate agent. He said lakefront land is plentiful in Alaska, but lakefront land along paved roads isn't. The Palins' home, tucked behind a wooded field, is off Wasilla's main road, Parks Highway, a mostly four-lane road cluttered with restaurants, bars, retail stores, offices, grocery stores and big-box outlets such as Target. A store-bought "no trespassing" sign is posted near the entry to an unmarked, private gravel drive that winds about 100 yards to the lakefront home. A neighbor's property has an old metal gate at its entrance with a sign warning, "Enter at your own risk."

The Palins' four-bedroom, four-bath house, nearly 3,500 square feet, sits on just over two acres behind a tall wood-plank privacy fence that runs along one side of the property. It's one of the newest homes in the Snider subdivision lining Lake Lucille and is assessed at $552,000 — more than twice the value of a neighboring two-acre lot with a much smaller, older wood-frame home.

Todd Palin built the house with friends who were contractors, he said in a recent television interview.

The house is worth substantially more than the Palins' starter home, a three-bedroom, two-bath house house built in 1984 on the far western boundary of Wasilla. The quiet, wooded neighborhood was developed about three miles from the city center, with half-acre lots and space for young families.

In addition to the Lake Lucille home, the Palins own recreational property in two remote areas accessible by plane, all-terrain vehicle or snowmachine.

The Palins invested in five lots along Safari Lake, an undeveloped area near Denali State Park. They bought the property, once owned by the state's Department of Natural Resources and valued at $30,000 in assessment records, with friends Scott and Deborah Richter in 2004 and 2005. The Richters have since divorced.

With other friends, the Palins own a cabin on five acres southwest of Wasilla and the Iditarod National Historic Trail. The land and cabin are assessed at $55,000; property records do not show what the Palins paid for their share.