Real Estate Relocation Guide To Alaska

Relocating from Chicago to Alaska is a major move. You’re crossing state lines and heading 2,800 miles to find a new home in a different community. By familiarizing yourself with the local real estate market, whether your destination is Anchorage or Nome you can get a good idea of the Alaska landscape and locate the best area for you and your family.

We’ll start with the big picture… Alaska has an estimated population of 670,000* and around 572,000 square miles of land. The total number of housing units is 276,590, of which about 148,000 are owner-occupied and 81,000 are inhabited by renters. Roughly 46,700, or 17 percent, of the residences in the state are vacant. The median home value in Alaska is $213,000 and the median household income is $59,393. For an idea of how this sizes up with national averages – the median home value in the U.S. is $185,200 and the median household income is $48,451.

Statewide figures provide a good overview of Alaska, but when you’re planning to relocate to the region, knowing what types of housing are available is the most important thing. So here’s a breakdown of what Alaska real estate has to offer…

About 2,400 homes in Alaska are new construction, developed in 2005 or after (another 20,000 were put up between 2000 and 2004). Alaska has its share of vintage charm as well with 5,600 residences built prior to 1940. The total number of detached, single-family houses across the state is 164,900, and there’s also a good selection of multi-unit residences and condos. Most homes have 3 bedrooms, but size varies greatly depending on where you look. And, in case you’re wondering about how your budget will pan out in The Great Land, monthly mortgage costs in [Alabama] generally hover between $1,000 and 2,000+.

Relocation Resources

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Anchorage & Eagle River AK Real Estate
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*All statistics are from the 2006 American Community Survey as shown on the U.S. Census Bureau website.
Sources: factfinder.census.gov and www.city-data.com