Current home values in Alaska

Home values have been declining throughout Alaska and are down -8.0% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $334,419, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Alaska: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $334,419 home at 3.33% would give a typical Alaska homebuyer a monthly payment of $1,176, assuming a 20% down payment.

How the Alaska housing market stacks up

A panoramic view of tundra and mountainous landscape in the last frontier of Alaska
cocoperl / Twenty20
Families in Alaska can enjoy a smaller city life or venture out into the wilderness

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Alaska, they're predicted to rise 2.4%.

Homes right now are going on the market in Alaska at a median price of $170 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Alaska home prices over the last 10 years

Year Avg. Price
2020* $303,062
2019 $329,238
2018 $327,958
2017 $323,867
2016 $322,692
2015 $320,725
2014 $310,425
2013 $306,250
2012 $297,975
2011 $297,717
2010 $296,000
2009 $292,492

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Alaska is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $425,904
2019 $467,500
2018 $465,000
2017 $460,000
2016 $462,500
2015 $455,000
2014 $440,000
2013 $435,000
2012 $425,000
2011 $425,000
2010 $427,500
2009 $422,500

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."