I’ve analyzed the latest Zillow Home Value Index data and compiled this exclusive ranking of Alaska’s top 25 neighborhoods based on February 2025 home valuations. The numbers reveal fascinating patterns of wealth distribution and investment potential across the state’s most sought-after communities.
What stands out immediately is the dramatic price acceleration in certain areas, with neighborhoods like Tanaina and Knik-Fairview showing extraordinary 15-year growth trajectories exceeding 70%. Despite Alaska’s challenging climate, these premium real estate markets have demonstrated remarkable resilience and appreciation.
When examining the financial data across different timeframes, it becomes clear that the top-tier Alaska neighborhoods have consistently outperformed national averages. Let’s explore each area’s valuation journey, starting with the most affordable and working our way to Alaska’s luxury property pinnacle.
25. Airport Heights
- 2025: $329,644.01
- 2020: $286,965.90
- 2015: $255,010.85
- 2010: $222,945.43
- % Change 2020–2025: 14.87%
- % Change 2015–2025: 29.27%
- % Change 2010–2025: 47.86%
Airport Heights has delivered impressive financial returns over the past decade and a half, with property values appreciating nearly 48% since 2010. The area’s price-to-income ratio remains among the most favorable in Anchorage, attracting a steady stream of first-time homebuyers and investors. Located just northeast of downtown Anchorage, Airport Heights offers excellent access to employment centers while maintaining a residential atmosphere.
24. Northeast
- 2025: $330,925.99
- 2020: $298,061.37
- 2015: $269,425.65
- 2010: $247,756.19
- % Change 2020–2025: 11.03%
- % Change 2015–2025: 22.83%
- % Change 2010–2025: 33.57%
Northeast has demonstrated stable investment performance with more modest but consistent gains, posting a 33.57% fifteen-year appreciation rate. The neighborhood’s capitalization rates have historically outperformed many Anchorage submarkets, making it a favorite among rental property investors. This northeast quadrant of Anchorage balances affordability with proximity to major shopping centers and employment hubs.
23. Scenic Foothills
- 2025: $359,337.12
- 2020: $301,160.91
- 2015: $261,161.59
- 2010: $230,657.45
- % Change 2020–2025: 19.32%
- % Change 2015–2025: 37.59%
- % Change 2010–2025: 55.79%
Scenic Foothills has generated remarkable capital appreciation with a 55.79% increase in property values since 2010. Recent transaction data shows accelerating momentum with nearly 20% growth in just the last five years, outpacing inflation by a significant margin. This eastern Anchorage neighborhood is nestled against the Chugach Mountains, offering premium views and recreational access that continues to drive property demand.
22. University Area
- 2025: $365,193.98
- 2020: $311,547.86
- 2015: $271,987.83
- 2010: $239,615.76
- % Change 2020–2025: 17.22%
- % Change 2015–2025: 34.27%
- % Change 2010–2025: 52.41%
University Area has established itself as a financial safe haven with steady 52.41% appreciation over fifteen years. Investor confidence remains high with the latest five-year period delivering an attractive 17.22% return, driven partly by limited housing supply in this education-anchored district. Situated around the University of Alaska Anchorage, this neighborhood benefits from consistent rental demand and institutional stability.
21. Knik-Fairview
- 2025: $369,951.82
- 2020: $286,261.18
- 2015: $238,506.39
- 2010: $216,616.26
- % Change 2020–2025: 29.24%
- % Change 2015–2025: 55.11%
- % Change 2010–2025: 70.79%
Knik-Fairview stands out as an investment powerhouse with a staggering 70.79% fifteen-year appreciation rate. Recent market acceleration is evident in the 29.24% five-year growth figure, representing one of the strongest ROI profiles in the entire state. Located in the Matanuska-Susitna Borough north of Anchorage, this rapidly developing area combines larger lot sizes with more affordable entry points than comparable Anchorage neighborhoods.
20. Tanaina
- 2025: $380,386.65
- 2020: $278,224.79
- 2015: $232,281.32
- 2010: $212,616.48
- % Change 2020–2025: 36.72%
- % Change 2015–2025: 63.76%
- % Change 2010–2025: 78.91%
Tanaina has emerged as Alaska’s top-performing mid-priced neighborhood with an exceptional 78.91% value increase since 2010. The latest five-year growth phase has been particularly robust at 36.72%, indicating strong market momentum and investor confidence in this submarket. This Mat-Su Borough community offers a strategic balance of relatively affordable acquisition costs coupled with outsized appreciation potential.
19. Abbott Loop
- 2025: $380,774.63
- 2020: $331,966.55
- 2015: $289,667.28
- 2010: $259,430.21
- % Change 2020–2025: 14.70%
- % Change 2015–2025: 31.45%
- % Change 2010–2025: 46.77%
Abbott Loop presents a balanced investment profile with 46.77% appreciation over fifteen years and a respectable 14.70% return during the most recent five-year cycle. The neighborhood’s price stability metrics indicate lower volatility than many comparable areas, appealing to risk-averse investors seeking steady appreciation. This south Anchorage district has evolved into a commercial hub while maintaining residential appeal through strategic zoning and development.
18. North Lakes
- 2025: $389,594.18
- 2020: $296,568.83
- 2015: $242,609.21
- 2010: $222,791.52
- % Change 2020–2025: 31.37%
- % Change 2015–2025: 60.59%
- % Change 2010–2025: 74.87%
North Lakes has delivered exceptional financial performance with nearly 75% value appreciation since 2010 and accelerating growth of 31.37% in just the last five years. The neighborhood’s price-to-rent ratios remain favorable for investors despite the significant appreciation, maintaining strong cash flow potential. Located in the Mat-Su Valley, North Lakes combines waterfront properties with affordable entry points compared to similar Anchorage water-adjacent communities.
17. Turnagain
- 2025: $416,032.10
- 2020: $351,308.04
- 2015: $312,114.16
- 2010: $278,527.06
- % Change 2020–2025: 18.42%
- % Change 2015–2025: 33.29%
- % Change 2010–2025: 49.37%
Turnagain has maintained robust capital appreciation with a 49.37% increase in valuation since 2010, including 18.42% growth during the most recent market cycle. The area’s premium for water-proximate properties has widened over time, with Cook Inlet views commanding increasingly higher price differentials. This western Anchorage neighborhood occupies a peninsula between Cook Inlet and Knik Arm, offering numerous waterfront opportunities that drive its premium positioning.
16. Tudor Area
- 2025: $420,731.60
- 2020: $376,022.29
- 2015: $332,443.11
- 2010: $300,861.97
- % Change 2020–2025: 11.89%
- % Change 2015–2025: 26.56%
- % Change 2010–2025: 39.84%
Tudor Area presents a more conservative investment trajectory with 39.84% fifteen-year appreciation and a modest 11.89% five-year return, reflecting its mature market characteristics. The neighborhood maintains pricing stability with lower volatility than many Anchorage submarkets, attracting risk-averse capital. Centrally located in Anchorage along Tudor Road, this area’s strategic position between downtown and midtown business districts supports its steady valuation growth.
15. Sand Lake
- 2025: $426,268.08
- 2020: $362,521.97
- 2015: $318,781.70
- 2010: $279,156.82
- % Change 2020–2025: 17.58%
- % Change 2015–2025: 33.72%
- % Change 2010–2025: 52.70%
Sand Lake has demonstrated strong financial resilience with 52.70% value appreciation since 2010 and a healthy 17.58% growth during the most recent five-year period. Lakefront properties in the district command substantial premiums, with price-per-square-foot metrics often 30-40% higher than non-waterfront homes. This west Anchorage neighborhood is built around its namesake lake, with premium properties enjoying water views and recreational access year-round.
14. Government Hill
- 2025: $442,294.65
- 2020: $413,991.40
- 2015: $367,385.26
- 2010: $309,572.22
- % Change 2020–2025: 6.84%
- % Change 2015–2025: 20.39%
- % Change 2010–2025: 42.87%
Government Hill shows the most conservative recent growth at just 6.84% over five years, though its fifteen-year performance remains solid at 42.87%. The neighborhood’s proximity to Joint Base Elmendorf-Richardson provides strategic investment advantages with reliable demand from military personnel. This historic district sits on a bluff north of downtown Anchorage, offering views of Mount Susitna and Cook Inlet that support its premium positioning in the market.
13. Old Seward-Oceanview
- 2025: $446,274.13
- 2020: $378,270.21
- 2015: $322,539.63
- 2010: $282,463.73
- % Change 2020–2025: 17.98%
- % Change 2015–2025: 38.36%
- % Change 2010–2025: 57.99%
Old Seward-Oceanview has delivered exceptional value growth of nearly 58% since 2010, with the recent five-year period maintaining strong momentum at 17.98%. Properties with Turnagain Arm views command substantial premiums, often 25-35% higher than comparable inland locations within the same neighborhood. This south Anchorage district stretches along Turnagain Arm, offering dramatic water and mountain views that drive its premium market position.
12. South Addition
- 2025: $450,210.03
- 2020: $405,916.84
- 2015: $392,251.15
- 2010: $359,695.52
- % Change 2020–2025: 10.91%
- % Change 2015–2025: 14.78%
- % Change 2010–2025: 25.16%
South Addition represents the lowest fifteen-year appreciation rate in our analysis at 25.16%, indicating a more mature market with less dramatic pricing fluctuations. The neighborhood’s historic character and limited buildable land create scarcity value that supports long-term price stability. This historic district adjacent to downtown Anchorage features some of the city’s oldest homes and established tree-lined streets that maintain its desirability despite slower price growth.
11. Rogers Park
- 2025: $460,529.50
- 2020: $393,094.66
- 2015: $351,119.75
- 2010: $316,361.56
- % Change 2020–2025: 17.15%
- % Change 2015–2025: 31.16%
- % Change 2010–2025: 45.57%
Rogers Park has maintained consistent investment performance with 45.57% appreciation since 2010 and a respectable 17.15% growth over the most recent five-year period. The neighborhood’s price-per-square-foot metrics typically run 10-15% higher than Anchorage averages, reflecting its premium positioning. This midtown Anchorage community is known for its tree-lined streets and well-maintained mid-century homes that command premium pricing in the local market.
10. Bayshore-Klatt
- 2025: $468,646.59
- 2020: $394,606.00
- 2015: $344,893.29
- 2010: $303,767.64
- % Change 2020–2025: 18.76%
- % Change 2015–2025: 35.88%
- % Change 2010–2025: 54.28%
Bayshore-Klatt has generated impressive financial returns with 54.28% appreciation over fifteen years and continued strong performance at 18.76% for the most recent five-year cycle. Waterfront properties in this district frequently command 40-50% premiums over inland homes, creating distinct investment submarkets within the neighborhood. Located in southwest Anchorage along Cook Inlet, this area offers both waterfront properties and inland homes with excellent access to major transportation corridors.
9. Girdwood
- 2025: $490,941.81
- 2020: $382,524.30
- 2015: $323,334.15
- 2010: $295,857.71
- % Change 2020–2025: 28.34%
- % Change 2015–2025: 51.84%
- % Change 2010–2025: 65.94%
Girdwood has emerged as a premier investment opportunity with nearly 66% appreciation since 2010 and accelerating momentum at 28.34% growth over just the past five years. The resort community’s seasonal rental potential creates additional investment returns beyond pure appreciation, enhancing total ROI profiles. This alpine valley community, located about 40 miles southeast of Anchorage, is home to Alyeska Resort and attracts both permanent residents and vacation property investors.
8. Bear Valley
- 2025: $563,505.57
- 2020: $468,309.64
- 2015: $388,436.58
- 2010: $314,002.40
- % Change 2020–2025: 20.33%
- % Change 2015–2025: 45.07%
- % Change 2010–2025: 79.46%
Bear Valley has delivered exceptional financial performance with 79.46% appreciation over fifteen years, second only to Tanaina in our analysis. The neighborhood’s larger lot sizes command significant premiums, with per-acre valuations increasing faster than overall property values. Situated in south Anchorage on the slopes of the Chugach Mountains, Bear Valley offers larger lots, privacy, and stunning views that justify its premium positioning in the market.
7. Turnagain Arm
- 2025: $569,452.23
- 2020: $484,096.39
- 2015: $413,955.97
- 2010: $N/A
- % Change 2020–2025: 17.63%
- % Change 2015–2025: 37.56%
- % Change 2010–2025: N/A%
Turnagain Arm has demonstrated strong investment fundamentals with 37.56% ten-year appreciation and continued momentum at 17.63% growth over the most recent five-year period. Waterfront properties along this dramatic fjord frequently trade at 2-3 times the per-square-foot value of inland properties in surrounding areas. This scenic corridor stretches southeast from Anchorage along the Seward Highway, featuring dramatic tidal flats and mountain backdrops that drive premium valuations.
6. Huffman-O’Malley
- 2025: $591,816.75
- 2020: $478,630.16
- 2015: $444,673.36
- 2010: $404,496.35
- % Change 2020–2025: 23.65%
- % Change 2015–2025: 33.09%
- % Change 2010–2025: 46.31%
Huffman-O’Malley has maintained steady capital appreciation with 46.31% fifteen-year growth and recent acceleration to 23.65% over the past five years. The neighborhood’s executive homes typically command 20-30% price premiums over comparable properties in adjacent districts, reflecting its prestigious status. Located in south Anchorage at higher elevations, this upscale residential area offers larger lots and custom homes with mountain and city views.
5. Mid-Hillside
- 2025: $655,427.70
- 2020: $538,580.80
- 2015: $501,943.84
- 2010: $465,445.93
- % Change 2020–2025: 21.70%
- % Change 2015–2025: 30.58%
- % Change 2010–2025: 40.82%
Mid-Hillside presents a more conservative investment profile with 40.82% appreciation over fifteen years, though recent momentum has increased to 21.70% growth in the past five years. Properties with unobstructed Cook Inlet views command substantial premiums, often 25-40% higher than similar homes without premier vistas. This upscale south Anchorage neighborhood occupies the middle elevations of the Chugach Mountain foothills, offering panoramic views and larger lot sizes.
4. South Fork
- 2025: $668,515.95
- 2020: $536,229.26
- 2015: $460,748.79
- 2010: $440,763.54
- % Change 2020–2025: 24.67%
- % Change 2015–2025: 45.09%
- % Change 2010–2025: 51.67%
South Fork has delivered strong financial returns with 51.67% appreciation since 2010 and accelerating momentum at 24.67% over just the past five years. The area’s larger acreage properties have seen particularly strong demand, with per-acre valuations increasing approximately 3% faster annually than overall property values. Located in Eagle River northeast of Anchorage, South Fork features larger lots and custom homes tucked into a mountain valley setting.
3. Rabbit Creek
- 2025: $753,695.61
- 2020: $584,325.77
- 2015: $554,875.91
- 2010: $531,750.31
- % Change 2020–2025: 28.99%
- % Change 2015–2025: 35.83%
- % Change 2010–2025: 41.74%
Rabbit Creek has experienced substantial market acceleration with nearly 29% appreciation in just the past five years, compared to a more modest 41.74% fifteen-year growth rate. Properties over one acre have seen particularly strong demand, with lot premiums increasing faster than structure values in this exclusive submarket. This prestigious south Anchorage neighborhood sits at higher elevations on the Hillside, offering spectacular views of Cook Inlet, the Alaska Range, and Denali on clear days.
2. Hillside East
- 2025: $757,078.79
- 2020: $590,826.91
- 2015: $539,156.65
- 2010: $524,924.26
- % Change 2020–2025: 28.14%
- % Change 2015–2025: 40.42%
- % Change 2010–2025: 44.23%
Hillside East has demonstrated impressive capital appreciation with 44.23% growth since 2010 and accelerating value increases of 28.14% in just the past five years. Premium properties in this district typically trade at 2.5-3x the Anchorage median price, with price-per-square-foot metrics among the highest in the state. This exclusive enclave in southeast Anchorage features larger parcels on the upper elevations of the Chugach foothills, offering privacy and stunning views that justify its premium position.
1. Basher
- 2025: $911,560.51
- 2020: $708,059.01
- 2015: $650,764.26
- 2010: $635,598.30
- % Change 2020–2025: 28.74%
- % Change 2015–2025: 40.08%
- % Change 2010–2025: 43.42%
Basher reigns as Alaska’s most valuable neighborhood with median values exceeding $911,000 and robust appreciation of 43.42% over fifteen years. The area’s limited inventory and large-acreage properties have created significant scarcity premiums, with recent transactions frequently closing above asking price. This exclusive neighborhood is tucked into the eastern edge of Anchorage along the Chugach State Park boundary, offering unparalleled privacy, mountain access, and expansive natural surroundings that command Alaska’s highest residential valuations.
