Alaska’s housing landscape is undergoing a “silver wave” as the baby boomer generation (born 1946–1964) enters retirement. Between 2018 and 2023, baby boomers in the Last Frontier faced major decisions about where and how to live. This period saw shifting migration patterns (urban vs. rural living), evolving housing preferences (aging in place or downsizing), and strong motivations driven by cost-of-living, amenities, and lifestyle needs. Backed by government data, real estate studies, and first-hand accounts, we explore how Alaska’s boomers are navigating the housing market – and what it means for different regions across the state.
Demographic Shifts and Migration Patterns
Alaska’s senior population has grown dramatically as boomers age into their 60s and 70s. In 2010, just as the oldest boomers were hitting retirement age, about 55,000 Alaskans were 65 or older. By 2020 that number jumped to 95,000 (about 13% of the state’s population), and by 2024 it reached roughly 115,000 seniors (16%). This 73% surge in Alaska’s 65+ population during the 2010s came despite overall population stagnation and out-migration. In fact, Alaska led the nation in senior growth for much of the 2000s and 2010s, though it has since slowed as other states catch up.
One reason Alaska’s senior boom has tempered is a recent uptick in boomer out-migration. State demographers observed that around 2016–2020, more baby boomers began leaving Alaska than moving in, contributing to four straight years of net population decline. “It seems like the baby boomer generation is migrating out of the state a little faster,” said David Howell, Alaska’s state demographer, in 2021. Many boomers who moved to Alaska in the 1970s and 1980s (during pipeline construction and other booms) are now relocating in retirement. The total number of Alaskans in the boomer age bracket fell from ~186,000 in 2010 to just over 150,000 by 2020.
Regional shifts illustrate where boomers are choosing to live out their later years. Broadly, Alaska’s urban hubs (like Anchorage and Fairbanks) have seen slower senior growth, while some smaller communities attract retirees. In 2024, seniors made up about 15% of Anchorage’s population and 14% in Fairbanks, roughly on par with the state average.
In contrast, the Matanuska-Susitna Borough (“Mat-Su Valley”) and the Kenai Peninsula – both more suburban/rural regions in Southcentral Alaska – have higher concentrations of retirees. Kenai Peninsula Borough, known for its fishing and recreation, has about 22% of its residents aged 65+, the highest share among Alaska’s larger boroughs. The Mat-Su Borough’s senior share is around the statewide average (~16%), but Mat-Su has been the fastest-growing senior region: its 60+ population skyrocketed 117% from 2000 to 2010 and continues to grow rapidly.
At the same time, many rural communities in Western Alaska have smaller proportions of seniors. Remote areas with mostly Alaska Native populations (e.g. the Kusilvak and Yukon-Koyukuk regions) skew very young; some have only 7–8% of residents over 65. This is partly due to higher birth rates in past decades and the out-migration of older folks to regional hubs for health care and housing. In some western villages, housing shortages and limited medical services prompt elders to relocate. Urban centers like Anchorage, or smaller hubs like Nome and Bethel, often offer the only available housing with modern utilities and health facilities for rural elders.
Interestingly, Southeast Alaska has emerged as a retirement haven within the state. Eight of Alaska’s boroughs/census areas with the highest senior percentages are in the Southeast panhandle – scenic communities like Haines, Wrangell, and Petersburg where over 25% of residents are 65+. Haines tops the list with 29% seniors. These communities have seen younger generations move away for jobs, leaving a “graying” population aging in place amid a mild climate (by Alaska standards) and small-town lifestyle.
Overall, most Alaskan boomers appear inclined to stay in-state if they can. Even as some depart, surveys show a strong attachment to Alaska among older residents. In a statewide 2018 survey of Alaskans age 55+, a full 75% said they plan to remain in Alaska for the next five years. Many are long-term Alaskans with deep roots. However, staying in Alaska doesn’t always mean staying in the same house or city – many are relocating within the state in search of the right home for retirement.
Housing Preferences: Aging in Place vs. Downsizing
A defining trait of baby boomer homeowners is their desire to “age in place.” Nationwide, about 54% of boomer homeowners say they never plan to sell their current home, preferring to stay put as long as possible. In Alaska, this tendency is even more pronounced. According to the Alaska Commission on Aging’s 2018 survey, 71% of seniors expect to be living in the same home five years from now. Many have built substantial home equity over decades of ownership and feel relatively content, hoping to remain in their communities for the long haul.
Indeed, most Alaskan boomers are homeowners and tend to stay that way into retirement. The 2018 senior survey found 73% of respondents lived in a house or condo they (or a family member) owned, versus only 4% renting and the rest in senior housing or other arrangements. With so many owning their homes outright or with manageable mortgages, aging in place is financially feasible for many – and often preferable to the upheaval of moving.
However, not all boomers choose to stay in large family homes indefinitely. There is a notable subset embracing downsizing or seeking senior-oriented housing, especially as health needs change. In that same survey, about 8.3% of older Alaskans said they planned to move to a smaller home in their same community in the coming years. Others considered relocating to retirement communities or assisted living: a small fraction (around 3-4%) anticipated moving into an assisted living or nursing facility in Alaska, and an even smaller share (around 2-3%) hoped to find independent living in another Alaskan community. Only about 6% foresaw leaving Alaska for independent living out of state. These figures highlight that while the downsize-and-relocate cohort is a minority, it still represents thousands of boomers statewide making moves to new homes better suited for retirement.
Senior Housing Challenges
When boomers do seek to downsize, suitable housing can be hard to find in Alaska. There is a documented shortage of senior-friendly housing options like smaller single-level homes, condos, and assisted living units. “Nearly all communities [we visited] listed availability of affordable senior housing as an issue in need of improvement,” the Commission on Aging reported after statewide listening sessions. Providers ranked independent senior housing as the second most insufficient service area across Alaska (after in-home care services).
Even dedicated senior housing projects have faced challenges. In Anchorage, a proposed upscale retirement community called Legacy Pointe sought to offer state of the art homes and services for retiring Alaskan residents, promising the “active living senior community” that many boomers say they want. However, the project met community resistance over its size and was eventually shelved. These cases show the tension between boomers’ interest in downsizing and the realities of Alaska’s housing market – high development costs, NIMBYism, and a limited pool of buyers can make such projects slow to materialize.
For many boomers, the alternative to downsizing is to retrofit and remain. Aging in place often requires modifying one’s home (for accessibility) or getting in-home help. Alaska’s seniors are taking advantage of services that enable staying put: popular supports include home-delivered meals, senior transportation shuttles, and chore assistance. Notably, the top concerns seniors voiced about remaining at home were not boredom or isolation, but declining health, access to healthy food, and limited income to afford necessities.
Real Estate Trends and Property Values (2018–2023)
The homebuying behavior of Alaska’s boomers between 2018 and 2023 has had a subtle but important impact on the state’s real estate market. Nationally, adults 55+ made up about 21% of homebuyers in 2023. In Alaska, however, older buyers represent a smaller slice of the market than almost anywhere else. Only 16.8% of Alaska’s homebuyers in 2023 were age 55 or above, ranking Alaska among the bottom ten states for older homebuyer share. Older Alaskans are more often sellers than buyers in recent years, as those who do move tend to downsize or leave, putting their homes on the market rather than acquiring new ones.
That said, boomers have been a stabilizing force in Alaska’s housing market. Through the volatile late 2010s and the pandemic-era real estate surge, many boomers stayed put and did not list their homes, helping constrain supply. Real estate professionals note that boomers aging in place contributes to Anchorage’s tight inventory. This phenomenon, observed nationally, has been dubbed the “gray freeze” – as seniors postpone selling, fewer homes rotate into the market.
Home values in Alaska saw steady growth from 2018 to 2023, influenced in part by boomer trends. In Anchorage, the average single-family home price hit roughly $500,000 by spring 2024, up about 7.5% from the year prior. Boomers who did sell often reaped significant gains from decades of appreciation. This equity windfall has enabled some to cash out and downsize (either locally or out of state).
In Alaska, those who downsized often looked to condos or smaller homes in the same community, but competition can be fierce. When an attractive ranch-style home or condo hits the market in Anchorage or Fairbanks, boomer buyers with cash-on-hand or large down payments often have an edge over younger buyers. With more financial resources on average – greater savings and home equity – older buyers can often make substantial down payments, or even pay in cash, which has kept them competitive.
However, not all boomer moves are local. A notable number of Alaska’s retiring homeowners are selling and relocating outside, either to the Lower 48 or warmer parts of Alaska. The Kenai Peninsula and Mat-Su Valley have attracted some Anchorage retirees. The net effect is that Alaska’s housing market hasn’t yet experienced a “Silver Tsunami” flood of listings, but a slow trickle: as boomers exit their long-time homes gradually, the state will see more inventory freed up.
Cost-of-Living Factors in Housing Decisions
For Alaska’s baby boomers, affordability and cost-of-living considerations are paramount in choosing where to live in retirement. Alaska is often perceived as high-cost, but the picture is nuanced. Some expenses (like heating fuel, groceries, and air travel) are higher than the national average, especially in remote areas. Other factors, like the lack of state income tax and the Permanent Fund Dividend, can offset costs for seniors on fixed incomes.
Within Alaska, housing affordability often drives migration from urban to outlying areas. Nowhere is this clearer than in the move from Anchorage to the Mat-Su Valley. Anchorage’s housing prices and property taxes have steadily risen, squeezing retirees on a budget. In 2022–2023, the property tax on a $500,000 Anchorage home was around $850 per month, whereas in the Mat-Su Borough it would be roughly $460 – a savings of almost $400 monthly in taxes alone. With land and new construction markedly cheaper in the Valley, it’s no surprise that over half of all new single-family homes built in Alaska in 2022 were in Mat-Su. This search for affordability is a key motivation for boomer moves.
Cost-of-living is also a concern in rural Alaska, sometimes motivating elders to relocate to regional centers. Rural homeowners face astronomical utility and maintenance costs – for instance, in parts of the Interior and Bush, heating oil can run $8–$10 per gallon in winter. Until housing stock improves, many seniors in rural areas face high costs or inadequate homes, influencing them to seek better housing elsewhere.
Beyond pure dollars, access to amenities and services plays into boomers’ housing choices. Healthcare is a prime example. As people age, proximity to quality medical care becomes essential – and in Alaska, that often means being near Anchorage or other regional medical hubs. Communities that offer these conveniences tend to be attractive to retirees despite possibly smaller housing stock, because they reduce the need to drive long distances.
Regional Spotlights: Housing Trends Across Alaska
Southcentral (Anchorage, Mat-Su, Kenai)
The Anchorage Bowl has seen many boomers stay but also a steady outflow to nearby areas. Anchorage itself has an increasingly affluent senior homeowner base – those who remain tend to have higher incomes or strong reasons to stay. Many middle-class retirees are selling Anchorage properties and moving to the Mat-Su Valley or the Kenai Peninsula, where housing and taxes are cheaper. The Kenai Peninsula has become Alaska’s version of Florida, with fishing boats instead of golf carts. Kenai’s mix of moderate property prices, lower taxes, and recreational riches makes it a top choice for in-state retirement.
Interior (Fairbanks & Vicinity)
Despite a significant boomer workforce retiring from the military, university, or pipeline industries around Fairbanks, many do not stay there for retirement. Harsh winter conditions and high fuel costs push some retirees to move south. Those who remain often do so because of family ties or because they enjoy the Interior lifestyle. Housing-wise, Fairbanks seniors often downsize from rural homesteads to in-town residences to cut down on maintenance in extreme cold.
Southeast Alaska
Southeast’s small cities and villages have become disproportionately gray as younger residents leave for jobs. Many boomers in Southeast are aging in place by default – they simply stayed after careers in fishing, tourism, or government. These towns have limited eldercare facilities, so a common pattern is that boomers live independently in their homes as long as possible; when they need more care, they might relocate to Juneau or Ketchikan where the larger hospitals and assisted living homes are. The strong sense of community in small towns provides a support network that encourages seniors to stay.
Rural Alaska (Bush Communities)
In the vast expanse of rural Alaska, baby boomers face unique housing challenges. Many rural boomers live a subsistence lifestyle in villages where modern housing is scarce. Overcrowding is a chronic problem – in some regions nearly 40% of homes are overcrowded or severely overcrowded. Multi-generational living is common, sometimes by necessity. Nonetheless, there is a cultural emphasis on staying in one’s ancestral homeland among Alaska Native boomers. Cost-of-living is a major concern: everything from groceries to electricity costs more off the road system, putting pressure on seniors’ fixed incomes.
Voices of Alaska’s Boomers and Experts
Real estate professionals see both challenges and opportunities in serving the boomer market. Mark Romick, planning director at the Alaska Housing Finance Corporation, noted that senior housing demand is growing statewide, estimating. Realtors in Anchorage report that single-level homes and homes with accessibility features are at a premium because of boomer buyers. Developers in Mat-Su and Kenai are increasingly targeting this demographic with ranch homes, townhouses, and cottages that require less upkeep.
Community leaders also stress the importance of “aging-friendly” infrastructure. Transportation is one issue: seniors who can no longer drive need alternatives in both urban and rural settings. If those are lacking, they may be forced to move closer to services. Even simple things like property tax exemptions for seniors (which Alaska provides for the first $150K of home value for those 65+) factor into affordability and the decision to stay in one’s home.
In recent years, a consistent theme has emerged: Alaska’s boomers want to stay connected and purposeful in their golden years. Many are working longer or embarking on second careers, which can influence housing choices. Others immerse themselves in volunteerism and grandparenting. Each story is unique, but taken together, they paint a picture of a generation trying to balance the Alaskan life they love with the practical realities of aging.
References:
- State Plan for Senior Services FY2020–2023 – Alaska Commission on Aging
- Alaska Economic Trends, March 2025 – Alaska Department of Labor
- Few arrivals and many departures – Juneau Empire
- Senior Housing Shortage Statewide – Alaska Public Media
