Ketchikan, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ketchikan, AK Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Ketchikan Housing Market Information

With 8,197 people, 3,317 houses or apartments, and a median cost of homes of $245,504, Ketchikan real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Ketchikan, accounting for 35.75% of the city's housing units. Other types of housing that are prevalent in Ketchikan include large apartment complexes or high rise apartments ( 31.04%), duplexes, homes converted to apartments or other small apartment buildings ( 25.37%), and a few row houses and other attached homes ( 4.65%).

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

There is a lot of housing in Ketchikan 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 Ketchikan built between 1940-1969 ( 33.53%). A lesser amount of the housing stock also hails from before 1939 ( 15.19%). There's also some housing in Ketchikan built between 2000 and later ( 5.81%).

Vacant housing appears to be an issue in Ketchikan. Fully 13.26% of the housing stock is classified as vacant. Left unchecked, vacant Ketchikan homes and apartments can be a drag on the real estate market, holding Ketchikan 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.

Ketchikan Home Appreciation Rates

In the last 10 years, Ketchikan has experienced some of the highest home appreciation rates of any community in the nation. Ketchikan real estate appreciated 20.04% over the last ten years, which is an average annual home appreciation rate of 1.84%, putting Ketchikan in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Ketchikan definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Ketchikan appreciation rates have trailed the rest of the nation. In the last twelve months, Ketchikan's appreciation rate has been -0.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ketchikan were at 1.94%, which equates to an annual appreciation rate of 8.00%.

Relative to Alaska, our data show that Ketchikan's latest annual appreciation rate is lower than 70% of the other cities and towns in Alaska.

Average Home Values

 

Median Home Value:
$245,504

Ketchikan, AK HOME PRICES

Value Range
> $1,098,000 0.2
$824,001 - $1,098,000 1.1
$549,001 - $824,000 1.9
$439,001 - $549,000 3.2
$330,001 - $439,000 19.2
$220,001 - $330,000 31.5
$110,001 - $220,000 24.0
$55,001 - $110,000 12.6
$0 - $55,000 6.4

High for AK
High for Nation

Value Relative to Nation Value Relative to State
24.2402950992447 29.0322580645161

Number Of Homes And Apartments:
3,317

Ketchikan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
69.25% 3.05% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,527 / per month

Homeownership Rate

Homeownership
Owners 47.58
Renters 52.42
Vacant 13.26

Housing Market Details

 

Age of Homes

AGE OF Ketchikan HOMES
2000 or Newer 5.8
1970 - 1999 45.5
1940 - 1969 33.5
1939 or Older 15.2

Types of Homes

TYPE OF Ketchikan HOMES
Single-Family 35.7
Townhomes 4.7
Small Apt. Buildings 25.4
Apt. Complexes 31.0
Mobile Homes 2.6
Other 0.6

Home Size

SIZE OF Ketchikan HOMES
No Bedroom 6.22
1 Bedroom 21.13
2 Bedrooms 29.00
3 Bedrooms 30.44
4 Bedrooms 7.43
5 or more bedrooms 5.78

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Zip Codes in Ketchikan, AK