Anchorage
About Anchorage, Alaska
Welcome to Anchorage, Alaska, a unique city where urban amenities meet the wilderness. Known as the gateway to the stunning landscapes of Alaska, Anchorage offers a blend of vibrant cultural heritage, modern conveniences, and unparalleled access to outdoor adventures. The city is surrounded by majestic mountains and wildlife, offering activities such as hiking, skiing, and wildlife viewing. Anchorage's economy is driven by a combination of industries including oil, tourism, and military, which provide a robust job market and make it a pivotal city in the state.
Average Home Prices in Anchorage
The average home price in Anchorage, AK, is approximately $366,849, reflecting the city's premium on access to both city life and the vast wilderness of Alaska. Anchorage's real estate market offers a diverse range of properties, from downtown condos to suburban single-family homes, catering to a variety of preferences and lifestyles. The scenic views and the proximity to nature also add to the city’s appeal, making it a desirable location for both living and investment.
Based on calculations of home data from MLS and/or public records.
Veteran Benefits in Alaska
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Alaska Veterans and Pioneers Home
The Alaska Veterans and Pioneers Home in Palmer provides assisted living to older Alaskans with 75% of its 79 beds designated for veterans. Qualifying veterans, who are 65 or older and require assisted living care, are eligible for a per diem from the U.S. Department of Veterans Affairs to help cover costs. Applicants must have resided in Alaska for one year or more prior to application.
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Veterans Land Discount/Purchase Preference
Under the Veterans Land Sale Preference, before any unoccupied residential land is offered to the general public at auction, a veteran has the exclusive opportunity to purchase the land at a restricted sale at fair appraised market value. The Veterans Land Discount program allows a 20% discount on state residential/recreational land purchases, usable once in a veteran's lifetime.
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Veterans Housing and Residential Loans
The Alaska Housing Finance Corp. administers the Veterans Mortgage Program, which offers low-interest rates and little to no down payment for qualified veterans and active duty military personnel. Qualified veterans can also receive a 1% interest rate reduction on the first $50,000 of the loan amount.
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Alaska State Tax Benefits
Veterans with a VA or military disability rating of 50% or more are exempt from property taxes on the first $150,000 of the assessed value of their residence. This exemption extends to the spouse if the veteran passes away and the spouse is at least 60 years old.
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Alaska Veteran Employment Benefits
State employment gives a preference to veterans, awarding additional points on examinations. Honorably discharged veterans are also eligible to buy up to five years of military service for state retirement benefits.
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Alaska Veteran Education Benefits
The surviving spouse or dependent of a service member who died in the line of duty or who was listed as a prisoner of war may be entitled to free tuition at the University of Alaska.
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Alaska Veteran Recreation Benefits
The Alaska Railroad offers a 20% discount to active-duty military, retirees, and their dependents. The Alaska Marine Highway System provides a reduced-fare pass for veterans with a service-connected disability. Free state park camping passes and free hunting and fishing licenses are available to disabled veterans.
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Death Gratuity
A death gratuity of $750 is paid to the surviving spouse or personal representative of a deceased veteran who was a resident of Alaska at the time of death, meeting specific service criteria.
Anchorage Neighborhoods and Surrounding Areas
Explore the variety of neighborhoods in Anchorage, each offering unique qualities and lifestyle options. Here's a closer look at 20 vibrant communities:
- Downtown Anchorage: The heart of the city, featuring a mix of modern amenities, cultural institutions, and a bustling business district, ideal for those seeking an urban lifestyle.
- South Anchorage: Known for its newer developments, South Anchorage offers a range of housing options with beautiful mountain views and easy access to outdoor recreation.
- Midtown Anchorage: A commercial hub with many offices and shopping centers, Midtown also offers residential areas with easy access to city amenities.
- West Anchorage: Close to the Ted Stevens Anchorage International Airport, this area has a variety of residential neighborhoods with easy access to coastal trails and parks.
- East Anchorage: A diverse area with a range of affordable housing options, close to military bases and with good transport links to the rest of the city.
- Eagle River: Located just north of Anchorage, Eagle River is a separate community that blends suburban and rural living, popular with families for its schools and outdoor activities.
- Girdwood: A scenic resort town within the Municipality of Anchorage, known for its ski resort, hiking trails, and vibrant arts community.
- Mountain View: One of the most diverse neighborhoods in the U.S., Mountain View boasts vibrant community life and is undergoing various revitalization projects.
- Rogers Park: A well-established residential area known for its spacious homes and large lots, close to downtown and midtown amenities.
- Spenard: A quirky and eclectic neighborhood, known for its history as a red-light district, now featuring a variety of shops, cafes, and entertainment venues.
- Turnagain: Known for its historic homes and the scenic Tony Knowles Coastal Trail, Turnagain has a strong community spirit and stunning inlet views.
- Hillside: An upscale area with large properties offering spectacular city and mountain views, popular among affluent buyers looking for privacy and space.
- Bear Valley: A remote and scenic neighborhood, ideal for those seeking solitude and direct access to natural wilderness areas.
- Rabbit Creek: Offering large estates and luxury homes, Rabbit Creek is known for its wilderness access and panoramic views of the city and mountains.
- Sand Lake: A family-friendly neighborhood with a mix of residential options, close to lakes and parks, making it ideal for outdoor enthusiasts.
- Oceanview: As the name suggests, this area offers stunning views of the ocean, with well-maintained parks and access to beachfront activities.
- Birchwood: Located in the northern part of the municipality, Birchwood offers rural living with close-knit community vibes and spacious properties.
- Bootleggers Cove: A historic area near downtown, known for its upscale condos and proximity to the Anchorage Coastal Wildlife Refuge.
- Government Hill: The oldest neighborhood in Anchorage, located on a bluff overlooking downtown, known for its community feel and historical significance.
- Airport Heights: Close to the airport, this neighborhood offers convenient access to the rest of Anchorage and is popular among professionals and families alike.
Military Presence in Anchorage
Anchorage is a significant military hub with several key installations contributing to its community and economy. Notable bases include:
- Joint Base Elmendorf-Richardson (JBER): A combined U.S. Army and Air Force installation that supports and trains active-duty, guard, reserve, and retired military personnel across the region.
Local Universities in Anchorage
Anchorage hosts a range of educational institutions offering diverse academic programs. Key universities include:
- University of Alaska Anchorage (UAA): The largest university in Alaska, offering a wide range of programs from technical certificates to doctoral degrees.
- Alaska Pacific University: A small liberal arts college known for its environmental science and outdoor studies programs, providing a personalized learning experience.
VA Home Loans and MHS Lending in Anchorage
VA Home Loans provide valuable benefits for veterans looking to settle in Anchorage, including:
- No Down Payment Required: Eligible veterans can purchase homes without a down payment, facilitating access to homeownership.
- Competitive Interest Rates: VA Loans typically feature lower rates than many conventional loans, reducing monthly payments.
- No Private Mortgage Insurance (PMI): These loans do not require PMI, saving homeowners significant monthly costs.
MHS Lending, specializing in VA Loans, helps veterans navigate the buying process, ensuring they can fully utilize their benefits in Anchorage.
