Investing in Alaska
There's no doubt that Alaska is a unique place to live. With its stunning natural beauty and abundance of outdoor activities, it's no wonder that people are drawn to this state. If you're thinking about buying a rental property in Alaska, keep in mind that the market is still relatively new and undeveloped. Though, Alaska can be a good investment as it's one of the most tax friendly states, boasting no income tax and no sales tax.
The Nophin team crunched the numbers and found the five best places to invest in Alaska rental properties.
Statewide Vacancy Rates
Anchorage is the largest city in Alaska. Known as a popular tourist destination and with the Chugach Mountains in the backdrop, Anchorage is closely located near popular outdoor activities like hiking, fishing, and skiing.
- Population: 291,247
- Median household income: $84,813
- Median 1-bedroom monthly rent: $975
- Median listing home price: $370,000
Fairbanks is known for the northern lights, also known as the Auora Borealis. It's the second largest and coldest city in Alaska and is home to the Yukon Quest sled dog race.
- Population: 32,515
- Median household income: $64,397
- Median 1-bedroom monthly rent: $900
- Median listing home price: $328,000
Juneau is the state capital and is known for its scenic beauty and outdoor activities.
- Population: 32,255
- Median household income: $88,077
- Median 1-bedroom monthly rent: $1,275
- Median listing home price: $451,000
Kodiak is an island-city known for its fishing industry and hunting opportunities.
- Population: 5,983
- Median household income: $69,259
- Median 1-bedroom monthly rent: $1,264
- Median listing home price: $429,500
Sitka is an island city known for its Russian history and stunning views.
- Population: 8,458
- Median household income: $81,708
- Median 1-bedroom monthly rent: $1,085
- Median listing home price: $629,000
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To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.