Cost of Housing In Anchorage (apartment, rental, condo)

[AKStafford]

From a recent ADN Compass peice:

Over the last ten years, as Anchorage grew from a modest 225,000 residents to just around 300,000, the supply of housing within the community has become seriously inadequate. A shortage of housing combined with wages that failed to keep up with the cost of living are causing many middle class, hardworking families to make those wrenching financial choices.
For example, the average cost of a single family home has increased 55 percent while the average family income only rose 39 percent. The average rent for a two-bedroom apartment alone has increased 58 percent. These prices translate to a remarkable income reality: to live in our community, Anchorage households must now earn a whopping $100,000 a year to afford an average priced home, $65,000 a year to afford a condo and $50,000 a year to rent a 2-bedroom apartment.
So how did this housing crisis come to life? New housing construction is dangerously low. Market conditions are no longer favorable for redevelopment of existing, aging housing stock. The rental vacancy rate is just 1.9 percent and recent housing reports indicate that Anchorage will need about 9,000 new homes built over the next 20 years just to meet projected population growth.
At the same time, the three largest occupation sectors, retail sales, cashiers and fast food workers, are making below $25,000 a year. Nearly half of Anchorage families are spending 35-75 percent of their salary just to pay for their housing.


Full article is here: Compass: Lack of affordable housing likely to drive some hardworking citizens out of Anchorage | Compass: Guest Columnists | ADN.com

[GnomadAK]

And I don't see any way for Anchorage to come up with the space for 9,000 new housing units. Knik Arm bridge anyone?

[FloridaKash]

One of the reasons I left Alaska was the cost of housing. I wanted to raise my kids in a house, not a condo or apartment and in a good part of town. Had absolutely no desire to live in the valley.

I think you will start seeing Anchorage becoming a more densely populated city.

[dcbrewmeister]

Originally Posted by GnomadAK

And I don't see any way for Anchorage to come up with the space for 9,000 new housing units. Knik Arm bridge anyone?

I read an article about the project - forget from where - but that was one of the exact reasons given for it... Choices are limited...

[Sweden]

Originally Posted by dcbrewmeister

I read an article about the project - forget from where - but that was one of the exact reasons given for it... Choices are limited...

Well, if they stopped building just single- or two story apartment buildings, there would be plenty of room for much of those 9,000.
Granted, there would be more people living in apartment buildings and not their own houses, but that's the case in most bigger cities in the world today. Why not here as well?

[dcbrewmeister]

Originally Posted by Sweden

Well, if they stopped building just single- or two story apartment buildings, there would be plenty of room for much of those 9,000.
Granted, there would be more people living in apartment buildings and not their own houses, but that's the case in most bigger cities in the world today. Why not here as well?

As true as that is and as valid a point as that is, I personally am tired of being forced to live in a shoebox stacked on a bunch of other shoeboxes with other people who do not respect privacy or have any consideration for what noise they make or how it travels not to mention "when" it travels... I think it only adds to the amount of "road rage" and the level of inconsiderate a holes that you seem to get in bigger, denser pack cities...

I personally look for 1 or 2 story smaller number more spread out complexes... been in one too many denser higher number complexes. But Anc is only a jumping off point for me.

[Dakster]

I thought the reason most people leave or want to leave a lower 48 city was to
NOT have to be in an apartment.

[dcbrewmeister]

You don't have to leave the -48 for that - you just have to get out of the city.

[Dakster]

I do not live in the city nor an apartment, abd I would not move somewhere that I would have to. The romance about AK has nothing to do with living in a small apartment for the people I know. Not that I am remotely qualified to make that as a general rule - only a statement as to what I have been exposed to.

What are your thoughts?

[dcbrewmeister]

Originally Posted by Dakster

I do not live in the city nor an apartment, abd I would not move somewhere that I would have to. The romance about AK has nothing to do with living in a small apartment for the people I know. Not that I am remotely qualified to make that as a general rule - only a statement as to what I have been exposed to.

What are your thoughts?

I plan on staying in my RV for the summer when i move up there, look for some land and build a small cabin to live in for the winter. Then building a bigger place, but nothing major... 1,000 sq ft size range - maybe smaller maybe larger, just depends. I also am done with apts, but still believe cramming more people leads to short tempers - man was never meant to be crowed all the time.

I wasn't saying anything wrong with your statement, just glad that they don't try to cram as many people as possible into an acre...