Alaska Home Prices (2014, health insurance, appliances)

[jdhpa]

This explains the high home prices:

3. Alaska
> Median household income: $71,583
> Population: 736,732 (3rd lowest)
> Unemployment rate: 6.8% (11th highest)
> Poverty rate: 11.2% (6th lowest)

Few states had a higher proportion of high-income households than Alaska, where 6.4% earned $200,000 or more in 2014. A typical Alaskan household earned more than $71,500 last year, higher than in all but two other states. High incomes are also due to a trust fund that redistributes oil revenues to residents of the state. High median incomes likely drove up home values. The median home value of $254,500 last year was among the higher levels nationwide. High median incomes and a relatively low poverty rate of 11.2% demonstrate how Alaska has one of the most equitable income distributions in the country. While Alaska residents were among the nation's wealthiest as of last year, 17.2% of residents did not have health insurance, the second highest uninsured rate in the nation. Similarly, the state's unemployment rate of 6.8% last year, despite declining from the year before, remained among the highest nationwide.

http://finance.yahoo.com/news/americ...040318647.html

[AKStafford]

Originally Posted by jdhpa

High incomes are also due to a trust fund that redistributes oil revenues to residents of the state.

I completely disagree with this part... The dividend is a nice bonus, but it's not life changing money...

[pittsflyer]

Also what good is the high income if the housing cost chew up any extra money. Its not like the housing, at least in anchorage, is nice. Unless your willing to fork over 400-600k you are not going to get a traditional nice home. For 250k you will get a big time fixer upper. Prices are comming down rapidly due to all the lay offs and govt down sizing and people not being willing to spend a crap ton of money on a cracker jack box house just because its new and decent.

A nice house in sand lake area that butts up against the park, at least a few years ago, was well over 400k. Yea they are "nice houses" but not 420k nice, not even close and you are typically on a .15 acre lot.

Right now the average income in anchorage is 77k and if your average nice home is 400k (ie non fixer upper with modern finishes, appliances, 2 car garage and high ceilings) then thats 5.2 times your annual salery plus 3.75% over 30 years which is another 450k so you are paying 850k for a slapped togehter home that does not have dated stuff in it.

I agree with AKStafford, the divident basicly goes back to the govt for my truck tags, professional licences, passport renewals, drivers licence renewal, etc, etc. On rare years where the dividend pushes 2k then I typically have 1k left after the govt fleece to either bank or do something nice with. In a way its nice, its like the govt giving me money to give back to them so they can create a few jobs to faciliate the exchange lol and every 4-8 years there is enough money there to get a few extra things at costco.

Watching the fall colors and the sun hit the mountians during all seasons is why I am here.

[lv2hoop]

In other words, you can't eat the scenery...

[mizzile]

Originally Posted by AKStafford

I completely disagree with this part... The dividend is a nice bonus, but it's not life changing money...

Well, to people who have had a bunch of kids, it is.

I find it really sad that people don't stash their kids' dividends away for them to use for school or to get a start on life.