The top rental markets in Alaska are Anchorage, Fairbanks, and Wasilla.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Alaska Rental Trends:
Alaska is the third least populous state in the U.S., but it has home values on the rise and affordable rents for its residents. With tourism being a huge part of its industry, property investors will be able to choose from a variety of short-term and long-term rentals. Here are some highlights from the top rental markets in the Last Frontier.
Days on Market:
The city with the lowest days on market is Fairbanks at 12 – under the national average which sits at 15 days; Anchorage has the highest number of days on market at 15.
The top two towns for the largest amount of leads per listing are below the national average sitting at 38. Here they are:
- Anchorage – 25 leads per listing
- Wasilla – 16 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Wasilla comes below that with the lowest average rent of $1,158 for a two-bedroom compared to the highest rent in Alaska at $1,255 in Fairbanks.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. Alaska’s highest median sale price comes below that at $283,000 in Wasilla with its lowest median sale price at $234,000 in Fairbanks.
Alaska’s median income rings in at $57,750 – above the national average at $48,500.
Security Deposit Trends:
Security deposits have increased and decreased in Alaska cities between 2018 and 2019. With the largest being an increase of 2.5% in Wasilla at $1,025, and the largest decrease in Fairbanks at -16.19% with the current average at around $880 – below the national average for security deposits which is $1,200.
All of Alaska’s cities have a livability score of 47 or higher with the highest being Anchorage at 51!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.