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Buying a home in Anchorage, Alaska

Anchorage median home value: $429,600 (Census ACS 2024). AHFC First Home Limited income cap: $135,100 for 1-2 people. About 3,500 parcels lie in a floodplain.

Checked on against the official sources listed at the bottom of the page.

In short

The median value of owner-occupied homes in Anchorage is $429,600 (Census ACS 2024; owner estimates, not sale prices). The FHFA House Price Index shows Alaska prices up 8.3% between the second quarters of 2025 and 2026, the largest gain of any state in that release. Alaska has no real estate transfer tax. Selling a main home you owned and lived in for 2 of the last 5 years, the first $250,000 of gain ($500,000 for a married couple filing jointly) is excluded from federal income tax (IRS Publication 523).

Calculate for Anchorage

If you buy

Alaska state transfer tax

Alaska has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$429,600
State transfer tax$0
Share of the price—

Default price: the Anchorage median value of owner-occupied homes, $429,600 (Census ACS 2024). Rule: No transfer tax exists at state level. Who pays: Nobody pays a transfer tax. The purchase contract decides who pays other closing costs. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Alaska transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Alaska state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

In short

The median value of owner-occupied homes in the Municipality of Anchorage is $429,600, according to the Census Bureau’s 2024 American Community Survey, against $376,500 for Alaska. The Municipality says it has close to 10,000 acres of floodplain and more than 3,500 parcels partly or fully inside it, so check any address before you buy.

How much homes cost in Anchorage

The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on Alaska home prices explains the method in detail. Anchorage is a unified city-borough, so the figure for the municipality is also the figure for the borough.

AreaMedian value, 2024 (ACS)Margin of error (90%)
Municipality of Anchorage$429,600±$16,429
Anchorage, AK metro area$410,900±$13,685
Alaska$376,500±$7,020
United States$360,600±$618

Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.

Are Anchorage prices rising?

FHFA publishes no purchase-only index for the Anchorage metro area. Its purchase-only index for Alaska, published August 25, 2026, shows prices up 8.3% between the second quarters of 2025 and 2026, against 2.1% for the United States. FHFA’s other Anchorage indexes (all-transactions and expanded-data) also rose, by 4.5% and 10.4%, but they use different data and are not directly comparable. See Alaska home prices for the table and the caveats.

What you pay besides the price

Anchorage does not change the state rules, so the costs are on our state pages:

To see how property tax can be paid through your monthly mortgage payment, read our guide to escrow accounts.

Help with the purchase in Anchorage

The Alaska Housing Finance Corporation (AHFC) sets its first-time buyer limits by area. For First Home Limited, the limits effective June 1, 2026 for Anchorage (non-targeted areas) are:

LimitAmount
Household income, 1-2 people$135,100
Household income, 3 or more people$155,365
Price, new or existing single-family home$566,354
Price, existing duplex$725,146

Source: AHFC, First Home Limited (TEP) income and acquisition cost limits. Higher limits apply in targeted census tracts.

The Municipality of Anchorage’s draft 2026 Action Plan lists $616,173 in federal HOME funds, to be used with a nonprofit housing developer and for property acquisition. The full list of programs, rates and options is on our page about first-time buyer programs in Alaska.

Local risks to check before you buy

Flooding

The Municipality of Anchorage says streams, rivers, lakes and coastal areas in the city are susceptible to flooding, and that it has close to 10,000 acres of floodplain with more than 3,500 individual parcels partly or entirely inside it. It participates in the National Flood Insurance Program (NFIP). It also states that federal rules require flood insurance for buildings in a Special Flood Hazard Area, a requirement that affects nearly all mortgages from commercial lenders.

New construction in the floodplain needs a Flood Hazard Permit, and the first floor of living space must be at least one foot above the 100-year flood elevation. The same rules apply to “substantial improvements”, which the Municipality defines as work worth more than 50% of the structure’s appraised or market value. The Municipality’s Flood Hazard Program can be reached at (907) 343-8078 or (907) 343-8135.

Earthquakes

The Municipality’s All Hazards Mitigation Plan describes two major earthquakes: the March 27, 1964 Good Friday earthquake (magnitude 9.2), whose Turnagain Heights landslide destroyed more than 100 homes, and the magnitude 7.1 earthquake of November 30, 2018. Standard homeowners policies generally exclude earthquake damage. Our page on natural hazards and insurance in Alaska explains what to ask your insurer.

Alaska guides for Anchorage buyers

Frequently asked questions

What is the median home price in Anchorage?

The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the Municipality of Anchorage at $429,600 (±$16,429). This is what owners think their home is worth, not the median sale price of recent sales.

Are home prices in Anchorage going up?

FHFA has no purchase-only index for Anchorage. Its Alaska index rose 8.3% between the second quarters of 2025 and 2026. Its all-transactions and expanded-data indexes for the Anchorage metro area rose 4.5% and 10.4%.

What is the income limit for AHFC’s First Home Limited loan in Anchorage?

In non-targeted areas, $135,100 for one or two people and $155,365 for three or more, effective June 1, 2026. Targeted census tracts have higher limits.

Do I need flood insurance in Anchorage?

According to the Municipality, buying flood insurance is required for buildings in a Special Flood Hazard Area, a requirement that affects nearly all mortgages from commercial lenders. Your lender can tell you whether the home you want is in one.

Where can I check whether a home is in a floodplain?

The Municipality of Anchorage publishes floodplain maps in its map viewer and data library. Its Flood Hazard Program can answer questions about a specific parcel.

More Alaska guides

Sources

Professionals by sector of Anchorage

Who licenses each trade in Alaska

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