How important is class rank?

Right now, I’m a sophomore in high school, and I’m trying to decide the best path for me in junior year. At the moment, I’m rank 1, but it’s only by a bit. Next year, I can pretty much decide if I really want to pursue valedictorian in the long run. I live in a suburban area where the district is average, but not bad enough where I would be guaranteed a first. In my class, there’s 3 other people (4 at the absolute most) that are seriously competing for top spots.

If I pursue high grades next year, it will drain some time that could be used towards SAT practice or extracurricular math competitions, which I will be working on since my major will be in engineering. However, if I don’t pursuit high grades, I will still be pretty much guaranteed at least a 5th place rank in my class, and it will allow me to work on other important activities.

In the eyes of college admission officers, does a 5th differ a lot from a 1st? Is it worth it for me to pursuit 1st, or should I pursue the SAT and extracurriculars in the area that I’m that going to major in?

Class rank is especially important when applying to top tier schools. I don’t think rank 5 differs much from rank 1 in my opinion, as long as you are in the top 10%, you should be good.

Check each school’s common data set or admissions entry on http://www.collegedata.com to see how important class rank is.