I’ve analyzed the Zillow Home Value Index data to identify Alaska’s most promising real estate markets over the past decade. What emerges is a fascinating picture of steady growth across diverse communities, from coastal fishing towns to interior hubs.
Unlike the volatile markets seen in the Lower 48, Alaska’s top performers show remarkable consistency, with even the 25th ranked town delivering solid 33% returns over nine years. This stability creates a unique investment proposition for those willing to look beyond traditional hotspots.
The standout story is undoubtedly Barrow (Utqiagvik), where property values surged by an astonishing 84% – nearly double the appreciation rate of most other towns in the state. This gap between the top performer and the rest of the pack points to highly localized growth factors worth investigating for serious investors.
25. Saxman
- % change from 2016 to 2025: 33.47%
- Home value in 2016: $213,752
- Home value in 2017: $221,173
- Home value in 2018: $228,481
- Home value in 2019: $236,430
- Home value in 2020: $251,099
- Home value in 2021: $267,282
- Home value in 2022: $281,875
- Home value in 2023: $292,973
- Home value in 2024: $284,456
- Home value in 2025: $285,305
Saxman rounds out our top 25 with 33.47% appreciation, building $71,553 in homeowner equity at a 3.26% compound annual rate. The market shows steady, consistent growth through 2023, followed by a modest 2.9% correction in 2023-2024 and minimal 0.3% recovery in 2024-2025. Even as the 25th ranked town, Saxman significantly outperformed inflation while offering lower volatility than many investment alternatives. This small Native Alaskan community near Ketchikan demonstrates how even smaller markets in Alaska can deliver meaningful wealth creation through real estate.
24. Seldovia
- % change from 2016 to 2025: 33.88%
- Home value in 2016: $198,519
- Home value in 2017: $194,540
- Home value in 2018: $195,631
- Home value in 2019: $204,724
- Home value in 2020: $223,400
- Home value in 2021: $241,044
- Home value in 2022: $268,543
- Home value in 2023: $269,247
- Home value in 2024: $259,880
- Home value in 2025: $265,771
Seldovia’s real estate has generated solid wealth with 33.88% appreciation, yielding $67,252 in equity despite significant early-cycle volatility. After initial contraction in 2016-2018, the market surged 37.3% between 2018-2022, demonstrating strong recovery capability. The recent 3.5% correction in 2022-2024 followed by 2.3% rebound in 2024-2025 indicates market resilience. This picturesque fishing village across Kachemak Bay from Homer offers unique investment potential with a compound annual growth rate of 3.29% over the full period.
23. Willow
- % change from 2016 to 2025: 33.93%
- Home value in 2016: $166,708
- Home value in 2017: $164,786
- Home value in 2018: $165,913
- Home value in 2019: $167,914
- Home value in 2020: $191,874
- Home value in 2021: $213,243
- Home value in 2022: $212,534
- Home value in 2023: $219,976
- Home value in 2024: $219,691
- Home value in 2025: $223,278
Willow presents an interesting investment case with 33.93% appreciation generating $56,571 in equity at a 3.30% compound annual rate. The market showed initial weakness with 2016-2019 essentially flat, followed by dramatic acceleration of 27.0% during 2019-2021 as pandemic buyers sought rural properties. Recent performance shows market stabilization with modest gains. Known as the restart point for the Iditarod sled dog race, this Mat-Su Valley community offers affordable entry points under $225,000 with demonstrated appreciation potential for patient investors.
22. Anchor Point
- % change from 2016 to 2025: 34.09%
- Home value in 2016: $191,760
- Home value in 2017: $189,413
- Home value in 2018: $190,088
- Home value in 2019: $201,442
- Home value in 2020: $222,338
- Home value in 2021: $242,722
- Home value in 2022: $264,111
- Home value in 2023: $262,220
- Home value in 2024: $251,771
- Home value in 2025: $257,131
Anchor Point has delivered solid returns with 34.09% appreciation, creating $65,371 in equity at a 3.31% compound annual growth rate. The market experienced significant volatility with initial contraction in 2016-2017, followed by explosive 31.0% growth during 2019-2022. The 4.0% correction in 2022-2024 and subsequent 2.1% recovery in 2024-2025 indicate a stabilizing market. This westernmost highway point on the Kenai Peninsula offers accessibility to recreation with relatively affordable entry points, presenting value investment opportunities for patient capital.
21. North Pole
- % change from 2016 to 2025: 34.16%
- Home value in 2016: $229,950
- Home value in 2017: $238,746
- Home value in 2018: $252,268
- Home value in 2019: $257,297
- Home value in 2020: $277,764
- Home value in 2021: $283,261
- Home value in 2022: $301,229
- Home value in 2023: $300,708
- Home value in 2024: $301,485
- Home value in 2025: $308,497
North Pole’s 34.16% appreciation has built $78,547 in homeowner equity at a steady 3.32% compound annual rate. The market demonstrates remarkable stability with consistent moderate growth and minimal volatility. Note the absence of significant corrections despite broader market fluctuations elsewhere in Alaska. This Fairbanks suburb, famous for its Christmas-themed attractions, offers investors a balanced profile combining steady appreciation with below-average risk. The 2.3% gain in 2024-2025 indicates continuing market strength and demand resilience.
20. Soldotna
- % change from 2016 to 2025: 35.40%
- Home value in 2016: $260,170
- Home value in 2017: $266,735
- Home value in 2018: $266,321
- Home value in 2019: $276,399
- Home value in 2020: $292,831
- Home value in 2021: $304,844
- Home value in 2022: $346,949
- Home value in 2023: $352,077
- Home value in 2024: $345,683
- Home value in 2025: $352,259
Soldotna’s real estate market delivered solid financial performance with 35.40% appreciation, generating $92,089 in equity at a 3.42% compound annual growth rate. The standout period was 2021-2022 with an exceptional 13.8% single-year gain during the pandemic-driven demand surge. A minor 1.8% correction in 2023-2024 followed by 1.9% recovery in 2024-2025 demonstrates market resilience. As the commercial hub of the Kenai Peninsula with strong tourism and healthcare sectors, Soldotna maintains steady demand fundamentals supporting consistent long-term appreciation.
19. Salcha
- % change from 2016 to 2025: 35.66%
- Home value in 2016: $156,225
- Home value in 2017: $167,398
- Home value in 2018: $177,422
- Home value in 2019: $176,921
- Home value in 2020: $191,399
- Home value in 2021: $199,715
- Home value in 2022: $204,663
- Home value in 2023: $207,349
- Home value in 2024: $206,445
- Home value in 2025: $211,940
Salcha offers an attractive investment profile with 35.66% appreciation from an accessible entry point, yielding $55,715 in equity growth at a 3.45% compound annual rate. The most aggressive growth occurred early in the cycle with a 13.6% gain in 2016-2018, followed by more moderate but steady appreciation. While the market experienced minor 0.4% correction in 2023-2024, it rebounded with 2.7% growth in 2024-2025. This interior community south of Fairbanks combines affordable pricing with demonstrated appreciation potential for value-oriented investors.
18. Chugiak
- % change from 2016 to 2025: 36.47%
- Home value in 2016: $353,141
- Home value in 2017: $353,833
- Home value in 2018: $358,695
- Home value in 2019: NA
- Home value in 2020: $406,298
- Home value in 2021: $407,472
- Home value in 2022: $427,610
- Home value in 2023: $444,557
- Home value in 2024: $456,594
- Home value in 2025: $481,923
Chugiak has generated substantial wealth for property owners with 36.47% appreciation, building $128,782 in equity at a 3.52% compound annual rate. Unlike many Alaska markets, Chugiak shows steady appreciation without significant corrections, with particularly strong performance of 5.5% in 2024-2025. This Anchorage suburb commands premium valuations, now approaching $482,000, reflecting its desirable location balancing urban proximity with rural character. The consistent price trajectory suggests sustainable demand fundamentals in this Eagle River Valley community.
17. Kodiak
- % change from 2016 to 2025: 37.77%
- Home value in 2016: $319,269
- Home value in 2017: $318,528
- Home value in 2018: $329,200
- Home value in 2019: $357,829
- Home value in 2020: $385,774
- Home value in 2021: $403,954
- Home value in 2022: $441,089
- Home value in 2023: $448,272
- Home value in 2024: $410,880
- Home value in 2025: $439,846
Kodiak Island real estate has delivered solid financial performance with 37.77% appreciation, creating $120,577 in equity at a 3.63% compound annual growth rate. The market demonstrated exceptional strength during 2016-2023 with steady gains culminating in 9.2% growth for 2021-2022. The 8.3% correction in 2023-2024 followed by strong 7.0% recovery in 2024-2025 indicates market volatility but fundamental resilience. As Alaska’s largest fishing port with significant Coast Guard presence, Kodiak’s economic diversity supports the premium valuation approaching $440,000.
16. Ketchikan
- % change from 2016 to 2025: 41.45%
- Home value in 2016: $275,222
- Home value in 2017: $285,326
- Home value in 2018: $292,653
- Home value in 2019: $309,970
- Home value in 2020: $333,160
- Home value in 2021: $349,919
- Home value in 2022: $373,794
- Home value in 2023: $390,483
- Home value in 2024: $379,339
- Home value in 2025: $389,311
Ketchikan demonstrates excellent investment characteristics with 41.45% appreciation generating $114,089 in equity growth at a 3.93% compound annual rate. The market shows remarkable consistency with steady year-over-year gains until a modest 2.9% correction in 2023-2024, followed by 2.6% recovery in 2024-2025. As Southeast Alaska’s cruise ship gateway and commercial center, Ketchikan’s real estate benefits from tourism-driven economic stability. The premium valuation approaching $390,000 reflects the community’s established infrastructure and limited buildable land in this island setting.
15. Kasilof
- % change from 2016 to 2025: 42.62%
- Home value in 2016: $205,610
- Home value in 2017: $209,407
- Home value in 2018: $214,555
- Home value in 2019: $224,482
- Home value in 2020: $246,345
- Home value in 2021: $267,995
- Home value in 2022: $301,029
- Home value in 2023: $305,005
- Home value in 2024: $292,336
- Home value in 2025: $293,235
Kasilof has yielded strong financial returns with 42.62% appreciation, building $87,625 in homeowner equity at a respectable 4.0% compound annual growth rate. The market exhibited exceptional strength during 2020-2022 with a remarkable 22.2% two-year gain during the pandemic relocation wave. While experiencing a 4.2% correction in 2023-2024, the market has stabilized with modest 0.3% growth in 2024-2025. This Kenai Peninsula fishing community offers attractive investment characteristics with balanced risk-return metrics based on historical performance.
14. Fox River
- % change from 2016 to 2025: 42.96%
- Home value in 2016: $158,495
- Home value in 2017: $172,089
- Home value in 2018: $171,481
- Home value in 2019: $169,055
- Home value in 2020: $192,539
- Home value in 2021: $219,233
- Home value in 2022: $226,248
- Home value in 2023: $230,559
- Home value in 2024: $222,232
- Home value in 2025: $226,578
Fox River presents a compelling investment case with 42.96% appreciation despite significant volatility, yielding $68,082 in equity growth from a low initial investment base. The market saw a minor contraction during 2017-2019 before explosive growth of 29.7% over the 2019-2022 period. The modest 3.6% correction in 2023-2024 followed by recovery in 2024-2025 demonstrates market resilience. This Kenai Peninsula community remains relatively affordable with average values under $230,000, offering accessible entry points with demonstrated appreciation potential.
13. Diamond Ridge
- % change from 2016 to 2025: 45.58%
- Home value in 2016: $233,612
- Home value in 2017: $234,271
- Home value in 2018: $241,149
- Home value in 2019: $258,386
- Home value in 2020: $278,522
- Home value in 2021: $309,870
- Home value in 2022: $337,614
- Home value in 2023: $343,397
- Home value in 2024: $333,643
- Home value in 2025: $340,088
Diamond Ridge has delivered solid financial performance with 45.58% appreciation, generating $106,477 in equity growth at a 4.24% compound annual rate. The market experienced its strongest gains during the 2020-2022 period with a 21.2% increase over two years. While a minor 2.8% correction occurred in 2023-2024, the market has already begun recovering with 1.9% growth in 2024-2025. This upscale community near Homer offers panoramic Kachemak Bay views that underpin strong property values and long-term price stability.
12. Homer
- % change from 2016 to 2025: 48.23%
- Home value in 2016: $261,455
- Home value in 2017: $263,090
- Home value in 2018: $271,315
- Home value in 2019: $287,120
- Home value in 2020: $308,228
- Home value in 2021: $333,793
- Home value in 2022: $374,943
- Home value in 2023: $378,829
- Home value in 2024: $373,905
- Home value in 2025: $387,543
Homer’s real estate has proven financially rewarding with 48.23% appreciation creating $126,087 in homeowner equity at a 4.46% compound annual growth rate. The market shows classic investment characteristics: steady growth, followed by acceleration (12.3% in 2021-2022), slight correction (-1.3% in 2023-2024), and recovery (3.6% in 2024-2025). This Kachemak Bay community known as the “Halibut Fishing Capital of the World” commands premium values due to its scenic location and amenities, with average homes now approaching $400,000 yet still offering growth potential.
11. Sterling
- % change from 2016 to 2025: 49.09%
- Home value in 2016: $231,982
- Home value in 2017: $245,292
- Home value in 2018: $246,540
- Home value in 2019: $255,805
- Home value in 2020: $278,884
- Home value in 2021: $294,731
- Home value in 2022: $334,686
- Home value in 2023: $338,572
- Home value in 2024: $336,658
- Home value in 2025: $345,865
Sterling demonstrates excellent investment fundamentals with 49.09% appreciation, building $113,883 in equity at a 4.53% compound annual rate. The standout performance came during 2021-2022 with a remarkable 13.6% single-year gain during the pandemic relocation wave. While the market stabilized in 2022-2024 with minimal fluctuation, the renewed 2.7% growth in 2024-2025 signals continued demand in this Kenai Peninsula community. The consistent returns with moderate volatility create an attractive risk-adjusted profile for long-term investors.
10. Wasilla
- % change from 2016 to 2025: 49.34%
- Home value in 2016: $257,969
- Home value in 2017: $261,953
- Home value in 2018: $264,274
- Home value in 2019: NA
- Home value in 2020: $296,581
- Home value in 2021: $313,414
- Home value in 2022: $346,960
- Home value in 2023: $358,797
- Home value in 2024: $370,140
- Home value in 2025: $385,244
Wasilla has generated substantial household wealth through its 49.34% home value appreciation, creating $127,275 in equity per property. The 4.55% compound annual growth rate represents an excellent risk-adjusted return for this established market. Unlike many communities, Wasilla shows no correction periods in the dataset, with consistent annual growth averaging 4.4% since 2020. As Mat-Su Valley’s commercial hub with strong population growth, the market fundamentals support continued price appreciation, making current entry points potentially attractive despite the higher absolute price point.
9. Moose Pass
- % change from 2016 to 2025: 50.53%
- Home value in 2016: $178,608
- Home value in 2017: $186,617
- Home value in 2018: $187,877
- Home value in 2019: $205,572
- Home value in 2020: $222,427
- Home value in 2021: $244,138
- Home value in 2022: $271,941
- Home value in 2023: $271,981
- Home value in 2024: $262,294
- Home value in 2025: $268,859
Moose Pass offers an attractive investment thesis with 50.53% appreciation and a relatively low entry point, creating $90,250 in equity growth from a modest initial investment. The 4.64% compound annual return comes with relatively low volatility for a small rural market. The most aggressive growth phase came during 2020-2022 with a 22% gain as pandemic-era buyers sought scenic, less dense communities. Despite a minor 3.6% correction in 2023-2024, the market has already begun recovering, suggesting resilient underlying demand in this Kenai Peninsula community.
8. Palmer
- % change from 2016 to 2025: 50.74%
- Home value in 2016: $254,873
- Home value in 2017: $259,756
- Home value in 2018: $262,753
- Home value in 2019: NA
- Home value in 2020: $295,538
- Home value in 2021: $315,370
- Home value in 2022: $343,684
- Home value in 2023: $356,345
- Home value in 2024: $370,176
- Home value in 2025: $384,198
Palmer has delivered excellent financial returns with 50.74% appreciation over nine years, generating $129,325 in household wealth through real estate equity. The compound annual growth rate of 4.66% significantly outpaces inflation, preserving and building real purchasing power. Note the acceleration in recent years with consistent annual gains between 3-9% since 2020, indicating strengthening market fundamentals. Located in the fertile Matanuska Valley, Palmer combines agricultural heritage with proximity to Anchorage, creating a resilient real estate market with continued growth potential.
7. Delta Junction
- % change from 2016 to 2025: 52.61%
- Home value in 2016: $218,350
- Home value in 2017: $227,320
- Home value in 2018: $220,007
- Home value in 2019: $247,090
- Home value in 2020: $254,831
- Home value in 2021: $297,830
- Home value in 2022: $345,749
- Home value in 2023: $320,675
- Home value in 2024: $315,128
- Home value in 2025: $333,233
Delta Junction’s market dynamics reveal a fascinating investment profile: 52.61% overall appreciation but with significant volatility, including a remarkable 16.8% single-year gain in 2020-2021 followed by a correction in 2022-2024. The net equity gain of $114,883 represents a 4.8% compound annual return despite the fluctuations. For strategic investors, these market cycles present potential buy-low opportunities. Positioned at the junction of the Alaska and Richardson Highways, this interior community’s recent 5.7% rebound in 2024-2025 signals renewed market strength.
6. Meadow Lakes
- % change from 2016 to 2025: 55.73%
- Home value in 2016: $221,269
- Home value in 2017: $228,133
- Home value in 2018: $233,825
- Home value in 2019: $242,356
- Home value in 2020: $264,889
- Home value in 2021: $284,322
- Home value in 2022: $311,062
- Home value in 2023: $323,457
- Home value in 2024: $332,770
- Home value in 2025: $344,584
Meadow Lakes has generated substantial wealth for property owners with 55.73% appreciation, building $123,316 in equity at a solid 5.05% compound annual growth rate. Unlike many markets, this area shows remarkably consistent year-over-year gains without significant corrections, indicating stable demand fundamentals. The steady appreciation accelerated during the pandemic years with a 9.3% jump in 2021-2022, yet avoided the boom-bust cycle seen elsewhere. This Matanuska-Susitna community offers a compelling combination of growth potential with below-average volatility.
5. Hope
- % change from 2016 to 2025: 56.38%
- Home value in 2016: $163,468
- Home value in 2017: $166,915
- Home value in 2018: $165,089
- Home value in 2019: $178,157
- Home value in 2020: $200,145
- Home value in 2021: $216,620
- Home value in 2022: $238,474
- Home value in 2023: $246,883
- Home value in 2024: $241,126
- Home value in 2025: $255,631
Hope has delivered impressive financial returns with 56.38% nine-year appreciation, creating $92,163 in equity per property at a 5.1% compound annual growth rate. The sharp acceleration between 2019-2022 (34% increase) indicates strengthening market fundamentals in this historic gold rush town. Particularly noteworthy is the relatively affordable entry point—even after significant appreciation, average values remain under $260,000. The 2024-2025 rebound after a minor correction suggests continued market confidence and potential for additional gains.
4. Kachemak City
- % change from 2016 to 2025: 56.61%
- Home value in 2016: $301,897
- Home value in 2017: $309,139
- Home value in 2018: $318,261
- Home value in 2019: $347,115
- Home value in 2020: $369,092
- Home value in 2021: $398,305
- Home value in 2022: $457,752
- Home value in 2023: $457,280
- Home value in 2024: $449,111
- Home value in 2025: $472,805
Your investment in Kachemak City would have generated substantial wealth with a 56.61% appreciation, translating to $170,909 in equity growth. The 5.1% compound annual return substantially outperforms many alternative investments while offering the security of a physical asset. The impressive 15% surge during 2021-2022 signals strong demand dynamics in this Kachemak Bay community. For prospective buyers, the slight price correction in 2023-2024 may represent an entry opportunity before the resumed upward trajectory seen in 2025.
3. Seward
- % change from 2016 to 2025: 61.98%
- Home value in 2016: $216,515
- Home value in 2017: $228,539
- Home value in 2018: $235,068
- Home value in 2019: $251,182
- Home value in 2020: $266,798
- Home value in 2021: $289,551
- Home value in 2022: $330,202
- Home value in 2023: $334,752
- Home value in 2024: $335,037
- Home value in 2025: $350,716
Seward’s 61.98% appreciation represents a financial windfall of $134,202 per property, delivering a robust 5.52% compound annual growth rate. The steady year-over-year increases signal a fundamentally sound market rather than speculative bubbles. The 14% jump in 2021-2022 shows particular strength during the post-pandemic period when recreation-focused communities surged in value. This coastal gateway to Kenai Fjords National Park continues to attract both tourism dollars and residential investment, suggesting continued price support.
2. Cooper Landing
- % change from 2016 to 2025: 65.58%
- Home value in 2016: $276,501
- Home value in 2017: $306,405
- Home value in 2018: $310,789
- Home value in 2019: $314,148
- Home value in 2020: $340,181
- Home value in 2021: $351,776
- Home value in 2022: $403,371
- Home value in 2023: $408,437
- Home value in 2024: $406,736
- Home value in 2025: $457,838
Cooper Landing has delivered exceptional financial performance with a 65.58% appreciation, translating to $181,337 in created equity per property. The 5.8% compound annual growth rate significantly outpaces inflation, building real wealth for homeowners. Note the acceleration during 2021-2022 when values jumped nearly 15% in a single year, suggesting strong demand fundamentals. Located at the confluence of Kenai Lake and Kenai River, this market shows remarkable resilience even during broader economic uncertainty.
1. Barrow
- % change from 2016 to 2025: 84.16%
- Home value in 2016: $164,957
- Home value in 2017: $164,248
- Home value in 2018: $162,083
- Home value in 2019: $210,996
- Home value in 2020: $235,665
- Home value in 2021: $253,773
- Home value in 2022: $274,078
- Home value in 2023: $274,867
- Home value in 2024: $277,538
- Home value in 2025: $303,790
Your investment in Barrow would have yielded an exceptional 84.16% ROI since 2016, outperforming virtually all traditional investment vehicles. The dramatic $138,833 equity gain represents a compound annual growth rate of 7.01%, creating substantial wealth-building opportunity. Notice the significant jump between 2018-2019, suggesting a fundamental market shift that continues to drive values upward. For buyers, the current momentum suggests additional upside potential in America’s northernmost community.
