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 a population of 2,189, 803 total housing units (homes and apartments), and a median house value of $205,639, 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 7.38%, which ranks in the top 40% nationwide. This equates to an annual average North Pole house appreciation rate of 0.71%.

NeighborhoodScout's data show that during the latest twelve months, North Pole's appreciation rate, at 4.83%, has been at or slightly above the national average. In the latest quarter, North Pole's appreciation rate has been 0.14%, which annualizes to a rate of 0.57%.

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:
$205,639

North Pole, AK HOME PRICES

Value Range
> $1,052,000 0.0
$789,001 - $1,052,000 0.0
$526,001 - $789,000 1.1
$421,001 - $526,000 4.7
$315,001 - $421,000 9.9
$211,001 - $315,000 33.2
$105,001 - $211,000 42.0
$53,001 - $105,000 7.2
$0 - $53,000 1.9

Average for AK
High for Nation

Value Relative to Nation Value Relative to State
30.5519746865112 47.5409836065574

Number Of Homes And Apartments:
803

Rent & Ownership

 

Average Market Rent:
$1,387 / 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

North Pole Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
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
53.17% 2.50% 3 7
* 10 is highest

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Zip Codes in North Pole, AK