North Pole, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Pole, 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 Q1 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

North Pole Housing Market Information

With 2,189 people, 803 houses or apartments, and a median cost of homes of $213,230, North Pole real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in North Pole, accounting for 60.13% of the city's housing units. Other types of housing that are prevalent in North Pole include duplexes, homes converted to apartments or other small apartment buildings ( 18.47%), large apartment complexes or high rise apartments ( 12.38%), and a few row houses and other attached homes ( 6.93%).

The most prevalent building size and type in North Pole are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.19% owning and 43.81% renting.

There is a lot of housing in North Pole 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 North Pole built between 2000 and later ( 24.87%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.95%).

Vacant housing appears to be an issue in North Pole. Fully 15.74% of the housing stock is classified as vacant. Left unchecked, vacant North Pole homes and apartments can be a drag on the real estate market, holding North Pole 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.

North Pole Home Appreciation Rates

Appreciation rates for homes in North Pole have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.09%, which ranks in the top 40% nationwide. This equates to an annual average North Pole house appreciation rate of 0.87%.

Appreciation rates are so strong in North Pole that despite a nationwide downturn in the housing market, North Pole real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, North Pole appreciation rates continue to be some of the highest in America, at 6.29%, which is higher than appreciation rates in 76.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in North Pole. North Pole appreciation rates in the latest quarter were at 3.62%, which equates to an annual appreciation rate of 15.29%.

Importantly, this makes North Pole one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$213,230

North Pole, AK HOME PRICES

Value Range
> $1,091,000 0.0
$818,001 - $1,091,000 0.0
$545,001 - $818,000 1.1
$436,001 - $545,000 4.7
$327,001 - $436,000 9.9
$218,001 - $327,000 33.2
$109,001 - $218,000 42.0
$55,001 - $109,000 7.2
$0 - $55,000 1.9

Average for AK
High for Nation

Value Relative to Nation Value Relative to State
29.1573889605063 42.6229508196721

Number Of Homes And Apartments:
803

North Pole Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
58.95% 2.72% 3 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,435 / per month

Homeownership Rate

Homeownership
Owners 56.19
Renters 43.81
Vacant 15.74

Housing Market Details

 

Age of Homes

AGE OF North Pole HOMES
2000 or Newer 24.9
1970 - 1999 59.2
1940 - 1969 15.9
1939 or Older 0.0

Types of Homes

TYPE OF North Pole HOMES
Single-Family 60.1
Townhomes 6.9
Small Apt. Buildings 18.5
Apt. Complexes 12.4
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF North Pole HOMES
No Bedroom 0.42
1 Bedroom 12.80
2 Bedrooms 21.20
3 Bedrooms 47.53
4 Bedrooms 15.01
5 or more bedrooms 3.04

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Zip Codes in North Pole, AK