North Pole, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Pole, AK Real Estate Data


North Pole Housing Market Information

With 2,189 people, 828 houses or apartments, and a median cost of homes of $199,109, 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 62.89% 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 ( 15.64%), large apartment complexes or high rise apartments ( 12.84%), and a few row houses and other attached homes ( 5.61%).

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 54.83% owning and 45.17% 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 ( 25.24%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.48%).

Vacant housing appears to be an issue in North Pole. Fully 10.68% 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 5.79%, which ranks in the top 50% nationwide. This equates to an annual average North Pole house appreciation rate of 0.56%.

Over the last year, North Pole appreciation rates have trailed the rest of the nation. In the last twelve months, North Pole's appreciation rate has been 4.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Pole were at 1.73%, which equates to an annual appreciation rate of 7.12%.

Relative to Alaska, our data show that North Pole's latest annual appreciation rate is lower than 60% of the other cities and towns in Alaska.

Average Home Values

 

Median Home Value:
$199,109

North Pole, AK HOME PRICES

Value Range
> $1,059,000 0.0
$794,001 - $1,059,000 0.0
$529,001 - $794,000 0.0
$423,001 - $529,000 3.5
$317,001 - $423,000 9.3
$212,001 - $317,000 32.2
$106,001 - $212,000 43.0
$53,001 - $106,000 10.1
$0 - $53,000 2.0

Average for AK
High for Nation

Value Relative to Nation Value Relative to State
33.4192188323476 60.3174603174603

Number Of Homes And Apartments:
828

Rent & Ownership

 

Average Market Rent:
$1,602 / per month

Homeownership Rate

Homeownership
Owners 54.83
Renters 45.17
Vacant 10.68

Housing Market Details

 

Age of Homes

AGE OF North Pole HOMES
2000 or Newer 25.2
1970 - 1999 61.3
1940 - 1969 13.5
1939 or Older 0.0

Types of Homes

TYPE OF North Pole HOMES
Single-Family 62.9
Townhomes 5.6
Small Apt. Buildings 15.6
Apt. Complexes 12.8
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF North Pole HOMES
No Bedroom 0.32
1 Bedroom 14.67
2 Bedrooms 23.09
3 Bedrooms 46.82
4 Bedrooms 10.14
5 or more bedrooms 4.96

North Pole Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
49.40% 2.39% 2 6
* 10 is highest

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