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Real Estate Prices & Overview

South Addition median real estate price is $645,706, which is more expensive than 92.3% of the neighborhoods in Alaska and 80.5% of the neighborhoods in the U.S.

The average rental price in South Addition is currently $2,343, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.8% of the neighborhoods in Alaska.

South Addition is an urban neighborhood (based on population density) located in Anchorage, Alaska. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

South Addition real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the South Addition neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

South Addition has a 12.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.2% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Anchorage, the South Addition neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

South Addition is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, South Addition is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the South Addition neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 65.0% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 97.4% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Occupations

The South Addition neighborhood stands out nationally for having a greater proportion of its residents active in the military than 96.9% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Furthermore, the South Addition neighborhood has a greater proportion of government workers living in it than 96.9% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the South Addition neighborhood is a fantastic option for bicycle commuters, as 3.0% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.7% of the neighborhoods in America.

People

If you're nearing retirement age, or in retirement, the South Addition is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 7.9% of retiree-friendly neighborhoods in Alaska, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Alaska. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Diversity

Did you know that the South Addition neighborhood has more British and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have British ancestry and 2.3% have Welsh ancestry.

South Addition is also pretty special linguistically. Significantly, 0.7% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 95.9% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the South Addition neighborhood in Anchorage are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 90.0% of the neighborhoods in America. In addition, 2.9% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 72.1% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the South Addition neighborhood, 55.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 18.0% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (14.9%), and 13.3% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the South Addition neighborhood is English, spoken by 83.9% of households. Other important languages spoken here include Spanish, Polish and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the South Addition neighborhood in Anchorage, AK, residents most commonly identify their ethnicity or ancestry as German (22.2%). There are also a number of people of Irish ancestry (15.4%), and residents who report English roots (9.5%), and some of the residents are also of Asian ancestry (8.4%), along with some British ancestry residents (4.3%), among others. In addition, 11.5% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in South Addition neighborhood spend under 15 minutes commuting one-way to work (65.0% of working residents), one of the shortest commutes across America.

Here most residents (67.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.9%) and 10.2% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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