Anchorage real estate market overview
- Average Monthly Rent: $1.302
- Home Price/Value Percentage Change: 2.80%
- Median Home Value: $373,377
- Best Time To Sell a Home: July
- Affordability Index: Moderate
- Days To Sell a House: 13
- Job Market: Weak
- Public School Ranking: 47
Location and weather
Anchorage is the fourth largest city in America, and can be located in Southcentral Alaska. Anchorage is at the terminus of the Cook Inlet, a peninsula formed by the Knik Arm to the north and the Turnagain Arm to the south. Anchorage is a major tourist destination recognized for hosting the Alaska Railroad tour, and offering beautiful views on the Tony Knowles Coastal Trail, the Alyeska Aerial Tram and the Alyeska Ski area.
Other trails include the Winter Creek Trail, the Byron Glacier Trail and the Flattop Mountain Trail. Anchorage is also a major cargo distribution center, which is why the Ted Stevens Anchorage International Airport is a common refueling stop for international cargo flights.
Anchorage summers are cool and mostly cloudy, while the winters are long, snowy and partly cloudy. The summer temperatures are in the 60's, with lows in the mid-50's. Winter temperatures are in the 20's, with lows in the teens.
Population, job market and cost of living
Anchorage's population in early 2023 is 291,072, with a declining rate of -0.02%.
The job market has decreased by -3.55% over the last year and in ten years, is predicted to have increased by 16.10%.The major industries are health care, social assistance, retail trade and public administration. The largest companies to work for are Aoga, Alaska USA, Chenega, Alutiiq #SG LLC and Chugach Alaska.
The cost of living is high, due to the Anchorage real estate market and cost of available housing. With a scenic location, many outdoor recreation and touring opportunities, an international airport, mild summers and diverse job opportunities, Anchorage provides its residents with a unique lifestyle on Cook Inlet.
Anchorage real estate market details
- Rogers Park
- Northeast Anchorage
- Independence Park
- South Addition
- Mountain View
There has been a 2.8% increase in median home value over the last year. As of 2023, the median home value is $373,777.
The best time to sell a home for the highest valued sale is during July. For the quickest sale, homeowners should sell in June.
The affordability index in Anchorage is 116. This number indicates moderate affordability in this city.
The top ranked public schools are Huffman Elementary School, Bear Valley Elementary School, Chugach Optional Elementary School, Family Partnership Charter School and Northern Lights Abc K-8 School. This information is based on data measuring academic performance and equity.