I’ve analyzed data from the Zillow Home Value Index to identify Alaska’s standout real estate performers over the past decade. The results reveal a fascinating portrait of growth across The Last Frontier state’s diverse communities.
What strikes me most is the remarkable resilience of Alaska’s housing market, with even the “slowest” growing towns on this list posting more than 20% appreciation since 2016. The top performers—Tanaina, North Lakes, and Girdwood—have surged past 49% growth, outpacing inflation and offering homeowners substantial equity gains despite Alaska’s unique economic challenges.
I’ve arranged these towns in ascending order by percentage growth, from modest performers to the absolute standouts. This order provides a clear view of Alaska’s housing ladder and helps identify where the next wave of appreciation might occur based on consistent upward patterns across the state.
25. Tudor Area
- % change from 2016 to 2025: 21.6%
- 2025: $413,157
- 2024: $395,544
- 2023: $391,693
- 2022: $383,417
- 2021: $366,385
- 2020: $368,966
- 2019: $345,158
- 2018: $338,857
- 2017: $339,489
- 2016: $339,776
Tudor Area’s 21.6% appreciation represents steady but conservative growth that’s outperformed inflation while minimizing volatility. For investors, this suggests reliable rental returns with moderate but predictable equity accumulation. The consistent year-over-year increases indicate a stable demand foundation without speculative bubbles. Nestled in a convenient Anchorage location, Tudor combines accessibility with managed growth potential.
24. Rogers Park
- % change from 2016 to 2025: 23.06%
- 2025: $454,063
- 2024: $433,231
- 2023: $424,506
- 2022: $407,266
- 2021: $387,330
- 2020: $387,653
- 2019: $373,899
- 2018: $373,172
- 2017: $369,334
- 2016: $368,964
Rogers Park’s 23% appreciation translates to approximately $85,000 in equity creation—a solid return for homeowners who purchased in 2016. The accelerating price growth since 2021 signals increasing buyer competition and suggests further appreciation potential. For investors, the area’s higher price point opens opportunities for luxury rentals with stable tenancy. This established Anchorage neighborhood balances residential comfort with calculated investment upside.
23. Airport Heights
- % change from 2016 to 2025: 25.22%
- 2025: $325,624
- 2024: $312,000
- 2023: $304,532
- 2022: $291,856
- 2021: $280,915
- 2020: $282,601
- 2019: $265,038
- 2018: $266,669
- 2017: $260,258
- 2016: $260,034
Airport Heights offers an appealing entry-level investment opportunity with its lower median price point combined with respectable 25% growth. The area has generated approximately $65,000 in equity for 2016 buyers while maintaining affordability compared to other Anchorage neighborhoods. The accelerating price trajectory since 2019 suggests infrastructure improvements or increasing desirability. With its strategic location near employment centers, Airport Heights presents an attractive value proposition for first-time investors.
22. Spenard
- % change from 2016 to 2025: 25.53%
- 2025: $318,093
- 2024: $310,483
- 2023: $300,840
- 2022: $286,464
- 2021: $273,540
- 2020: $275,574
- 2019: $261,523
- 2018: $256,424
- 2017: $254,043
- 2016: $253,390
Spenard’s 25.5% appreciation combined with a sub-$320,000 price point creates an optimal investment scenario for rental property investors seeking cash flow and moderate appreciation. The consistent $10-15K annual value increases since 2020 indicate reliable demand with minimal seasonal volatility. For buyers, this growth pattern suggests a market with healthy liquidity—homes should sell quickly when priced appropriately. This evolving Anchorage neighborhood shows signs of continued upward mobility in the value chain.
21. Abbott Loop
- % change from 2016 to 2025: 26.43%
- 2025: $376,957
- 2024: $366,570
- 2023: $357,017
- 2022: $342,818
- 2021: $324,525
- 2020: $327,627
- 2019: $306,218
- 2018: $299,602
- 2017: $297,681
- 2016: $298,151
Abbott Loop has delivered approximately $79,000 in equity gains over nine years, representing a tax-advantaged return of about 3% annually for homeowners. The market demonstrated particular strength during 2021-2023, suggesting pandemic-era desirability for its residential characteristics. For investors, the moderate price point combined with steady appreciation offers balanced return potential. This family-friendly Anchorage area continues to attract both owner-occupants and strategic real estate investors.
20. Mid-Hillside
- % change from 2016 to 2025: 27.34%
- 2025: $650,681
- 2024: $625,440
- 2023: $612,882
- 2022: $574,447
- 2021: $544,240
- 2020: $534,314
- 2019: $512,445
- 2018: $503,281
- 2017: $510,875
- 2016: $510,979
Mid-Hillside’s premium price point has generated substantial absolute returns—nearly $140,000 in created equity—despite its moderate percentage growth. The wealth creation opportunities here favor high-net-worth investors seeking luxury assets with preservation characteristics. The 2021-2023 acceleration pattern suggests increasing scarcity value in this exclusive enclave. Perched above Anchorage with mountain vistas, Mid-Hillside represents a blue-chip investment with inflation-hedging capabilities.
19. Turnagain
- % change from 2016 to 2025: 27.44%
- 2025: $408,832
- 2024: $396,446
- 2023: $380,429
- 2022: $362,655
- 2021: $344,639
- 2020: $343,695
- 2019: $329,590
- 2018: $321,003
- 2017: $318,879
- 2016: $320,815
Turnagain’s value trajectory reveals an opportunity for strategic timing—its flat performance in 2016-2017 contrasts with consistent growth since 2018, yielding approximately $88,000 in equity. The accelerating appreciation since 2021 signals increasing buyer competition and market liquidity. For investors, the moderate entry point relative to appreciation potential creates favorable cash-on-cash return scenarios. This coastal Anchorage neighborhood offers an appealing blend of lifestyle amenities and investment fundamentals.
18. Taku-Campbell
- % change from 2016 to 2025: 27.6%
- 2025: $313,061
- 2024: $306,632
- 2023: $295,809
- 2022: $285,273
- 2021: $265,455
- 2020: $264,997
- 2019: $249,756
- 2018: $244,824
- 2017: $243,400
- 2016: $245,352
Taku-Campbell represents a prime entry-level investment opportunity with its sub-$315K price point combined with solid 27.6% appreciation. The area’s growth acceleration in 2021-2023 suggests improving neighborhood fundamentals or infrastructure developments enhancing property values. For buyers, the lower entry barrier combined with reliable appreciation creates an attractive wealth-building stepping stone. This emerging Anchorage district shows signs of increasing desirability among both first-time homebuyers and savvy investors.
17. University Area
- % change from 2016 to 2025: 28.91%
- 2025: $362,542
- 2024: $347,482
- 2023: $335,558
- 2022: $324,865
- 2021: $305,095
- 2020: $309,043
- 2019: $286,451
- 2018: $280,960
- 2017: $280,891
- 2016: $281,229
University Area’s proximity to educational institutions creates unique investment dynamics—approximately $81,000 in equity appreciation combined with reliable rental demand. The stability during 2016-2018 followed by acceleration suggests institutional expansion or increasing enrollment driving housing demand. For investors, the area offers potential for both appreciation and recession-resistant rental income. This education-adjacent neighborhood benefits from knowledge economy growth while maintaining reasonable entry points.
16. Sand Lake
- % change from 2016 to 2025: 29.01%
- 2025: $420,949
- 2024: $405,062
- 2023: $393,147
- 2022: $376,203
- 2021: $355,729
- 2020: $356,981
- 2019: $335,179
- 2018: $325,690
- 2017: $325,280
- 2016: $326,293
Sand Lake has generated nearly $95,000 in homeowner equity since 2016, representing meaningful wealth creation through real estate appreciation. The consistent year-over-year growth pattern indicates sustainable market fundamentals rather than speculative activity. For investors, the stable appreciation trajectory suggests reliable long-term value enhancement with minimal downside risk. This well-established west Anchorage community balances recreational amenities with solid investment characteristics.
15. Huffman-O’Malley
- % change from 2016 to 2025: 29.67%
- 2025: $587,128
- 2024: $565,246
- 2023: $544,964
- 2022: $510,352
- 2021: $480,880
- 2020: $474,628
- 2019: $452,047
- 2018: $443,313
- 2017: $449,783
- 2016: $452,800
Huffman-O’Malley’s upscale price point has delivered substantial absolute returns—approximately $134,000 in equity creation—despite moderate percentage growth. The premium nature of this market suggests limited downside risk even during economic contractions. For wealth preservation-focused investors, the area offers inflation protection with luxury lifestyle attributes. This sought-after south Anchorage enclave combines privacy with proximity to urban amenities.
14. Bayshore-Klatt
- % change from 2016 to 2025: 30.83%
- 2025: $463,789
- 2024: $445,413
- 2023: $432,162
- 2022: $412,208
- 2021: $387,075
- 2020: $390,098
- 2019: $364,011
- 2018: $352,829
- 2017: $348,956
- 2016: $354,501
Bayshore-Klatt has delivered approximately $109,000 in homeowner equity since 2016, representing substantial wealth building through property appreciation. The particularly strong value increases during 2021-2023 suggest neighborhood enhancements or increasing amenity value. For investors, the area offers an optimal blend of appreciation potential with solid rental yield possibilities. This southwest Anchorage community combines waterfront proximity with strong investment fundamentals.
13. Scenic Foothills
- % change from 2016 to 2025: 31.44%
- 2025: $355,333
- 2024: $337,865
- 2023: $326,090
- 2022: $314,551
- 2021: $296,244
- 2020: $297,254
- 2019: $nan
- 2018: $272,836
- 2017: $271,803
- 2016: $270,336
Scenic Foothills combines moderate entry pricing with impressive 31.4% appreciation, creating an optimal scenario for first-time investors seeking both cash flow and equity growth. The area has generated approximately $85,000 in homeowner wealth since 2016 despite data gaps in 2019. For buyers, the accelerating price trajectory since 2020 suggests improving neighborhood fundamentals. This northeast Anchorage community offers mountain views with increasingly attractive investment metrics.
12. Turnagain Arm
- % change from 2016 to 2025: 31.56%
- 2025: $563,928
- 2024: $543,097
- 2023: $534,342
- 2022: $501,094
- 2021: $487,982
- 2020: $477,373
- 2019: $474,032
- 2018: $447,213
- 2017: $428,220
- 2016: $428,643
Turnagain Arm’s premium pricing has delivered substantial absolute returns—over $135,000 in homeowner equity—with notably strong performance during 2021-2023. The consistent year-over-year appreciation suggests underlying scarcity value in this distinctive coastal setting. For investors, the area represents a blue-chip holding with both wealth preservation and enhancement characteristics. This scenic corridor south of Anchorage combines natural beauty with increasingly strong investment fundamentals.
11. Old Seward-Oceanview
- % change from 2016 to 2025: 31.78%
- 2025: $441,094
- 2024: $426,130
- 2023: $413,201
- 2022: $391,770
- 2021: $372,136
- 2020: $372,501
- 2019: $345,714
- 2018: $336,554
- 2017: $333,819
- 2016: $334,725
Old Seward-Oceanview has delivered impressive returns for homeowners—approximately $106,000 in equity creation representing a 31.8% gain. The particularly strong performance during 2021-2023 indicates increasing buyer preference for this area’s amenities and location. For investors, the combination of moderate entry point and consistent appreciation creates favorable cash-on-cash scenarios. This south Anchorage neighborhood balances accessibility with increasingly strong investment metrics.
10. Basher
- % change from 2016 to 2025: 33.92%
- 2025: $907,667
- 2024: $853,548
- 2023: $822,809
- 2022: $770,394
- 2021: $718,076
- 2020: $706,326
- 2019: $692,718
- 2018: $679,395
- 2017: $678,373
- 2016: $677,755
Basher represents Alaska’s luxury market with substantial absolute returns—nearly $230,000 in equity creation—despite its relatively modest percentage growth. The exclusive price point limits buyer competition while maintaining consistent appreciation, suggesting durable scarcity value. For high-net-worth investors, the area offers superior wealth preservation characteristics with minimal volatility. This prestigious enclave combines privacy and natural splendor with proven investment performance.
9. Rabbit Creek
- % change from 2016 to 2025: 33.93%
- 2025: $753,736
- 2024: $722,144
- 2023: $695,781
- 2022: $645,832
- 2021: $600,258
- 2020: $583,760
- 2019: $573,972
- 2018: $558,001
- 2017: $561,860
- 2016: $562,795
Rabbit Creek’s premium positioning has generated substantial absolute returns—nearly $191,000 in homeowner equity—representing impressive wealth creation. The acceleration in appreciation since 2020 suggests increasing preference among affluent buyers for this area’s characteristics. For investors, the combination of prestige location and proven appreciation creates compelling wealth-building opportunities. This hillside south Anchorage community offers panoramic views with increasingly strong investment fundamentals.
8. Bjerremark
- % change from 2016 to 2025: 35.37%
- 2025: $221,642
- 2024: $215,850
- 2023: $214,399
- 2022: $211,359
- 2021: $197,758
- 2020: $194,127
- 2019: $185,134
- 2018: $179,488
- 2017: $169,831
- 2016: $163,735
Bjerremark offers a unique value proposition—Alaska’s lowest entry price point on this list combined with impressive 35.4% appreciation. The approximately $58,000 in equity creation represents substantial percentage returns for modest initial investments. For cash flow investors, the lower acquisition cost creates favorable cap rate potential alongside proven appreciation. This emerging community demonstrates how affordable entry points can deliver outsized percentage returns in Alaska’s diverse market.
7. Hillside East
- % change from 2016 to 2025: 35.62%
- 2025: $755,567
- 2024: $719,354
- 2023: $688,650
- 2022: $640,953
- 2021: $604,012
- 2020: $590,787
- 2019: $565,152
- 2018: $554,082
- 2017: $563,714
- 2016: $557,129
Hillside East exemplifies premium real estate performance—nearly $198,500 in equity creation despite moderate percentage growth. The consistent appreciation trajectory suggests enduring desirability among affluent buyers seeking this area’s distinctive characteristics. For wealth preservation investors, the combination of exclusivity and steady value enhancement creates compelling opportunities. This prestigious southeast Anchorage enclave balances natural beauty with proven investment resilience.
6. South Fork
- % change from 2016 to 2025: 40.55%
- 2025: $665,361
- 2024: $639,336
- 2023: $610,655
- 2022: $580,718
- 2021: $540,572
- 2020: $534,244
- 2019: $490,662
- 2018: $472,461
- 2017: $473,169
- 2016: $473,384
South Fork’s impressive 40.5% appreciation has generated approximately $192,000 in homeowner equity—substantial wealth creation that outpaces typical investment alternatives. The accelerating price growth since 2018 suggests increasing buyer competition and limited inventory in this sought-after location. For investors, the combination of strong appreciation with premium positioning creates compelling wealth-building opportunities. This scenic Eagle River community combines natural amenities with increasingly robust investment performance.
5. Bear Valley
- % change from 2016 to 2025: 40.64%
- 2025: $561,323
- 2024: $533,034
- 2023: $510,481
- 2022: $483,006
- 2021: $471,152
- 2020: $468,452
- 2019: $449,250
- 2018: $426,350
- 2017: $418,692
- 2016: $399,107
Bear Valley has delivered exceptional returns—over $162,000 in homeowner equity representing 40.6% appreciation since 2016. The particularly strong performance during 2022-2025 suggests increasing buyer preference for this area’s unique attributes. For investors, the combination of premium positioning with proven appreciation creates compelling wealth-building opportunities. This hillside south Anchorage community combines natural seclusion with increasingly robust investment performance.
4. Knik-Fairview
- % change from 2016 to 2025: 48.28%
- 2025: $370,713
- 2024: $354,778
- 2023: $345,372
- 2022: $334,715
- 2021: $303,654
- 2020: $287,707
- 2019: $nan
- 2018: $254,952
- 2017: $253,472
- 2016: $250,006
Knik-Fairview has delivered exceptional returns—approximately $121,000 in homeowner equity representing 48.3% appreciation despite data gaps. The dramatic acceleration since 2020 suggests fundamental improvements in infrastructure or amenities enhancing property values. For investors, the moderate entry point combined with proven appreciation creates optimal cash-on-cash potential. This rapidly developing Mat-Su Valley community demonstrates the outsized returns possible in Alaska’s emerging submarkets.
3. Girdwood
- % change from 2016 to 2025: 49.58%
- 2025: $486,680
- 2024: $456,829
- 2023: $434,703
- 2022: $405,543
- 2021: $378,094
- 2020: $378,881
- 2019: $360,262
- 2018: $339,950
- 2017: $329,781
- 2016: $325,366
Girdwood exemplifies premium growth with nearly 50% appreciation generating approximately $161,000 in homeowner equity since 2016. The resort community’s dramatic acceleration since 2021 suggests increasing demand for recreational properties and potential inventory constraints. For investors, the combination of vacation rental potential with extraordinary appreciation creates compelling total return scenarios. This mountain resort destination 40 miles from Anchorage demonstrates the power of lifestyle-driven appreciation.
2. North Lakes
- % change from 2016 to 2025: 53.16%
- 2025: $386,242
- 2024: $370,983
- 2023: $360,758
- 2022: $348,607
- 2021: $314,511
- 2020: $295,258
- 2019: $nan
- 2018: $262,140
- 2017: $259,240
- 2016: $252,180
North Lakes has delivered extraordinary returns—approximately $134,000 in homeowner equity representing 53.2% appreciation despite data gaps. The exceptional acceleration since 2020 suggests fundamental improvements in infrastructure or amenities substantially enhancing property values. For investors, the moderate entry point combined with proven appreciation creates optimal wealth-building potential. This emerging Mat-Su Valley community demonstrates the transformative growth possible in Alaska’s rapidly developing suburbs.
1. Tanaina
- % change from 2016 to 2025: 56.17%
- 2025: $379,653
- 2024: $363,178
- 2023: $347,687
- 2022: $332,407
- 2021: $297,104
- 2020: $279,946
- 2019: $nan
- 2018: $249,724
- 2017: $246,543
- 2016: $243,098
Tanaina leads Alaska’s appreciation rankings with an extraordinary 56.2% gain generating approximately $136,500 in homeowner equity since 2016. The remarkable acceleration since 2020 suggests fundamental market shifts—possibly infrastructure improvements or increasing demand for this location. For investors, this moderate price point combined with market-leading appreciation creates exceptional ROI potential. This thriving Mat-Su Valley community demonstrates how Alaska’s emerging submarkets can deliver investment performance that rivals more established metropolitan areas.
