Study: The average single-family home costs more in Juneau than anywhere else in Alaska

Downtown Juneau successful May 2023. (Clarise Larson/for nan Juneau Empire)

The mean income value for a single-family location successful Juneau was astir $510,000 successful 2023 — which makes it the second twelvemonth successful a row that Juneau had nan astir costly mean successful Alaska. That’s according to a study released by nan Alaska Department of Labor and Workforce Development this month.

Brian Holst, nan executive head of nan Juneau Economic Development Council, said that doesn’t astonishment him. 

“It is not bully for nan moving people of Juneau, but it isn’t a large astonishment because Juneau’s lodging costs person historically been high,” he said. “I’m not amazed to spot america adjacent aliases astatine nan top.”

Rents are high, too. Juneau classed 5th successful nan authorities for nan highest mean rental costs for a two-bedroom, astatine $1,561 a month. That’s a 5% summation from nan twelvemonth before. 

Other necessities are besides costing more, too. 

According to nan study, which comes retired annually, Juneau’s costs for things for illustration wellness attraction and groceries are akin to places for illustration Seattle and San Francisco. Overall, nan study cited Juneau’s costs of surviving arsenic conscionable awkward of 28% supra nan nationalist average. 

Holst said location are a batch of reasons things costs much successful Juneau, for illustration onshore readiness and nan costs to vessel things here. For housing, he said 1 large facet that often gets overlooked is nan demographic changes that are happening successful Juneau. 

“Our aging organization occupies a batch of housing. When you look astatine Juneau complete nan past 10 years, fundamentally our organization is astir nan aforesaid arsenic it was 10 years ago, but we person a batch much elder citizens,” he said. 

Holst said that arsenic Juneau’s population continues to property and enactment successful their homes, prices will support increasing. 

Alaska’s mean location prices and owe payments by area successful 2023. (Alaska Department of Labor and Workforce Development)

“The changing demographics are limiting nan proviso of housing. So, nan value of lodging goes up arsenic nan proviso is limited,”  he said. “Simply, we person not built capable lodging to support up pinch nan demand.”

Assembly personnel Ella Adkison said there’s nary 1 correct measurement to hole nan problem — aliases she would person already pursued it. 

“I don’t deliberation a one-size-fits-all option, but I deliberation we person to beryllium doing frankly everything we tin do,” she said. 

Recently, nan Assembly accrued backing for a city indebtedness program for purchasing mobile homes. And it continues to put money toward nan city’s affordable lodging fund, which gives money to developers to thief get lodging projects disconnected nan ground. 

Adkison said that, arsenic a personification successful her 20s, she knows firsthand really nan deficiency of lodging affects young group successful Juneau. 

“I do get it. I person truthful galore friends who are successful really tight spots, and it’s a problem that each Assembly personnel is alert of but I’m acutely alert of,” she said. “It’s not thing that will hap quickly, and I can’t committedness adjacent year, ‘boom it will beryllium affordable to unrecorded here.’”

But she said things are happening, and she has dream those efforts will commencement to salary disconnected soon.