Homer, AK


Highest Appreciating Homer Neighborhoods Since 2000

Homer, AK Real Estate Data

Homer Housing Market Information

With 5,515 people, 2,090 houses or apartments, and a median cost of homes of $273,575, Homer real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Homer, accounting for 66.90% of the city's housing units. Other types of housing that are prevalent in Homer include duplexes, homes converted to apartments or other small apartment buildings ( 15.84%), large apartment complexes or high rise apartments ( 10.38%), and a few mobile homes or trailers ( 4.31%).

People in Homer primarily live in small (one, two or no bedroom) single-family detached homes. Homer has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Homer built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Homer built between 2000 and later ( 23.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.11%).

Vacant housing appears to be an issue in Homer. Fully 22.28% of the housing stock is classified as vacant. Left unchecked, vacant Homer homes and apartments can be a drag on the real estate market, holding Homer real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Homer Home Appreciation Rates

Appreciation rates for homes in Homer have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.71%, which ranks in the top 40% nationwide. This equates to an annual average Homer house appreciation rate of 0.84%.

Over the last year, Homer appreciation rates have trailed the rest of the nation. In the last twelve months, Homer's appreciation rate has been 3.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Homer were at -0.76%, which equates to an annual appreciation rate of -3.02%.

Notably, Homer's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alaska, our data show that Homer's latest annual appreciation rate is higher than 90% of the other cities and towns in Alaska.

Average Home Values


Median Home Value:


Value Range
> $1,088,000 0.5
$816,001 - $1,088,000 1.5
$544,001 - $816,000 4.8
$435,001 - $544,000 9.1
$326,001 - $435,000 17.8
$217,001 - $326,000 37.6
$109,001 - $217,000 22.3
$55,001 - $109,000 2.6
$0 - $55,000 3.0

Very High for AK
Very High for Nation

Value Relative to Nation Value Relative to State
18.9675377944451 18.0327868852459

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$1,293 / per month

Homeownership Rate

Owners 60.76
Renters 39.24
Vacant 22.28

Housing Market Details


Age of Homes

2000 or Newer 23.2
1970 - 1999 68.4
1940 - 1969 8.1
1939 or Older 0.3

Types of Homes

Single-Family 66.9
Townhomes 2.2
Small Apt. Buildings 15.8
Apt. Complexes 10.4
Mobile Homes 4.3
Other 0.4

Home Size

No Bedroom 5.80
1 Bedroom 17.00
2 Bedrooms 30.75
3 Bedrooms 30.75
4 Bedrooms 13.02
5 or more bedrooms 2.68

Homer Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
64.71% 2.94% 4 8
* 10 is highest

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