Alaska is a big, wild state with a lot of animals and a lot of rocky terrains. It is no surprise that the Last Frontier’s distinctive way of life and chances appeal to so many people. There are various reasons why individuals decide to migrate to Alaska, ranging from those looking for adventure and outdoor enthusiasts to those looking for a better, happier, and easier life.
In this post, we will examine ten of the reasons why many people are considering moving and buying real estate in Alaska. Read on to find out more, whether you are thinking of living there or simply interested in what it is like to live there.
Reason #1: Abundance of Natural Beauty
Alaska has a beautiful, diversified terrain home to many kinds of natural treasures. The region is renowned for its expansive and untamed landscapes, including soaring mountain ranges, thick woods, and immaculate beaches.
The following are a few of Alaska’s natural wonders and the outdoor activities that make an unforgettable experience and you should not miss when moving to Alaska:
Mountain Ranges
There are various mountain ranges in Alaska, including the Alaska Range, which is home to Denali, the highest peak in North America. The Chugach Mountains, the Brooks Range, and the Aleutian Range are some of the state’s other mountain ranges, perfect for hiking, rock climbing, and mountaineering.
Coastlines
Alaska’s coastline is among the most stunning and diverse in the world, stretching more than 6,600 miles. It consists of thousands of miles of tundra, sand beaches, and rock formations. They provide hiking, whale viewing, kayaking, and fishing opportunities. Moving to Alaska seems like a good idea for adventurous people and those who often want to relax and enjoy life.
Forests
Alaska has vast forested areas, including the Tongass National Forest, the biggest national forest. They are perfect spots for hiking, hunting, and camping. Moose, bears, and wolves are just a few of the animals that call these woodlands home.
Reason #2: Strong and Stable Economy
Natural resources abound in Alaska, which has contributed to the development of a robust economy. Oil, tourism, and fishing are the three main sectors of the state’s economy, which have considerably boosted its economic development and offered its constituents well-paying jobs.
Oil Industry
Almost 90% of Alaska’s state income comes from the oil sector, one of the major industries there. Massive oil reserves have made it one of the top oil-producing states in the nation. The oil business offers a wide range of employment opportunities. The oil business offers employment opportunities, from oil rig laborers to engineers and executives.
Tourism Industry
Each year, Alaska receives millions of visitors spending money on accommodation, food, and leisure activities. The tourist sector brings many work opportunities in several industries, including transportation, hospitality, and entertainment.
Fishing Industry
Many fish species, such as crabs, salmon, and halibut, are abundant in Alaska’s waters and employ thousands of residents. Due to the great demand for seafood from Alaska worldwide, the fishing sector also helps to strengthen the state’s economy through exports.
Reason #3: A Real Estate Market in Recovery
Despite prior struggles, the real estate market in Alaska is looking brighter than ever. Revenues are rising, and the housing market is beginning to show signs of a heated resurgence. The median listing price in the state is $407K, not far from the national average of $428K. Of course, if you know where to look, you can find Alaska real estate priced significantly lower than the average home price.
In Alaska, median sale prices increase by 6.8% yearly, and homes stay on the market for an average of 26 days before selling. Another market trend in The Last Frontier is the low inventory. According to reports from 2022, the state had only 3.2 months’ worth of existing dwellings.
The top markets to own a home for sale in Alaska are the most populated cities: Anchorage (the largest city), Fairbanks, and Juneau (the state’s capital). Real estate is primarily traditional single-family homes for sale and farms, with a few condos peppered throughout. New construction in Alaska has also been surging in recent years.
In more rural areas such as Wasilla or Sitka, investments in land or vacation homes tend to reap higher returns, given the popularity among visitors. Prospective buyers should investigate the market thoroughly and work with a local real estate agent before making any decisions – as different regions have different access to resources and amenities.
Reason #4: Fashion is Not a Priority
Alaska is famous for its severe and unpredictable weather, with lows that can plunge well below zero, powerful winds, and copious snowfall. As a result, Alaskans have perfected a practical method for dressing appropriately for the weather.
Locals choose function before fashion, opting for outfits that keep them dry, warm, and comfortable. If you are aiming for a simple life without thinking about your outfit or how you look, moving to Alaska is the place to be.
Reason #5: Cultural Diversity
In Alaska, there are more than 229 officially recognized tribes that speak more than 20 distinct languages. The Aleut, Athabascan, Eskimo, Yupik, and Tlingit-Haida ethnic groups comprise Alaska’s indigenous population. These native cultures each have its traditions, dialects, and customs.
With a long history of immigration, Alaska also has a large number of Russians, Filipinos, Koreans, Chinese, and Japanese communities. Smaller communities, on the other hand, account for Pacific Islanders, Black Americans, and Latinos.
Reason #6: Exciting Adventures and Winter Sports
Travelers seeking an adrenaline rush or a chance to reconnect with nature can find a limitless variety of thrilling activities in snowy Alaska. It is a place of untamed wilderness and breathtaking natural beauty. Here are just a handful of the thrilling activities Alaska has to offer:
- Dog-sledding
- Heli-skiing
- Wilderness expeditions
- Glacier trekking
- Whale watching
- Northern lights viewing
Reason #7: Unique Living Arrangements
Alaska is a beautiful and popular destination with several living options accessible to individuals seeking an unconventional lifestyle and moving to Alaska. Here are just a few of the many unusual living arrangements Alaska has to offer:
- Tiny homes
- Yurts
- Off-the-grid cabins
- Floating homes
- Earth-sheltered homes
- Treehouses
Reason #8: Lots of Local Options Available in Alaska
Several enterprises in Alaska provide handcrafted items, furniture, and artwork. The state also has a thriving food truck industry that offers a variety of Alaskan staples, such as salmon soup, halibut, and chips.
Other food truck options include BBQ, Thai, Vietnamese, and Cajun cuisine. These establishments provide tourists with a taste of Alaskan culture while also giving local business people and artists a platform to display their skills.
Reason #9: People are Paid to Live in Alaska
A percentage of Alaska’s oil earnings is distributed to the state’s citizens every year as part of the state’s Permanent Fund Dividend (PFD) scheme. The amount of cash dividend Alaskan citizens and their families receive varies yearly, depending on the fund’s investment performance.
In previous years, the payout sum ranged from $900 to $2,000 per individual. Most residents use it to pay expenses, like heating bills, food, and other necessities.
Reason #10: Alaska is a Foodie’s Paradise
If you love to eat, moving to Alaska is an easy decision. Alaska is particularly well-known for its fresh seafood and meat meals, frequently served fresh from the ocean or woods. There are numerous local seafood alternatives to explore in Anchorage, ranging from salmon to halibut to king crab. Moreover, the region is known for its craft beer culture, and tourists may sample a variety of local brews, including the iconic Amber beer.
Things You Should Know About Moving to Alaska
Before visiting or moving to Alaska, take the initiative to know various facts about the place. Get an overview of what to expect about this state to help you prepare for your life in this amazing state.
Land Area, Population, and Government
- Alaska has the biggest land area in the United States, totaling 663,267 square miles or1,717,854 square kilometers.
- It is situated in the far northwest of North America, bordered to the east by Canada and surrounded to the north, west, and south by the Arctic Ocean, Bering Sea, and the Pacific Ocean.
- Alaska has a small population, with around 731,000 inhabitants as of 2020.
- Anchorage is the biggest city, with a population of roughly 292,000 people.
- It is well-known for its harsh landscape, unique fauna, and extreme weather. Several national parks are located here, including Katmai National Park, Denali National Park, and Glacier Bay National Park.
- Alaska’s state government is a republic, with a governor and legislature chosen by the general population.
- The capital of Alaska is Juneau.
Cost of Living in Alaska
In general, Alaska has a higher cost of living than other regions. It is caused by several things, which include the isolation of many Alaskan villages and the high transportation costs. It pays to check the cost of living before moving to Alaska.
Taxes
The absence of a state income tax in Alaska that helps balance the expenses of residents is noteworthy. While residents of Alaska may still be subject to other taxes, such as federal income tax, the absence of state income and sales taxes has a major impact on one’s overall financial condition. It can help reduce higher living expenses, such as food, housing, and electricity.
Although the state has a higher cost of living, having no state income and sales taxes make it more appealing for people wishing to migrate. Moving to Alaska might make financial sense for many people due to the variety of opportunities and experiences the state offers.
Average Costs
Your location, lifestyle, and needs dictate the cost of living in Alaska. Here are some estimates of the state’s average cost of living to give you an idea before moving to Alaska.
- In Anchorage, the rental cost of a one-bedroom apartment ranges from $900 to $1,500/month.
- In other cities or towns, the rent for a one-bedroom apartment ranges from $600 to $1,200/month.
- A typical property in Alaska costs around $400,000 in Alaska.
- Due to transportation expenses and the state’s remoteness, groceries in Alaska may be more costly than in other states, but keep in mind that there is no sales tax in this state.
- Due to Alaska’s extremely cold weather, the average heating expense of a typical household is $150.
- Gasoline prices in Alaska are higher than the national average, about $3.50 per gallon, due to high transportation costs.
Cost of Moving to Alaska
Depending on the distance traveled, the volume of items to be transported, and the mode of transportation selected, the cost of moving to Alaska may vary significantly. Below are some estimated costs.
- Renting a moving truck and driving it yourself can be less expensive, with expenses ranging from $1,000 to $5,000.
- Hiring a moving company could run you anywhere from $3,000 to $10,000.
- The cost of shipping your stuff by cargo ship or airplane might also vary significantly, depending on the volume of your items.
- A one-way flight to Alaska might vary from $200 to $1,000 depending on the season and the point of departure.
Additional Costs of Moving to Alaska
Below are additional costs to consider when moving to Alaska.
- Healthcare expenses
- Transportation costs for pets
- Travel expenses (while looking for a property in Alaska)
- Initial setup costs
Winters in Alaska
Winters in this state are one of the many things to consider before moving to Alaska. Here’s what to anticipate from Alaska’s winter months:
Temperature
The temperature in Alaska during the winter varies widely based on location, though it may swing from 20 to 40 degrees Fahrenheit. Temperatures in Alaska may drop below -50 degrees Fahrenheit in certain areas.
Snowfall
During winter, Alaska is known for its significant snowfall, which may reach 60 to 275 inches per year, depending on where you live. Snowfall can begin as early as October and last until April or May. Moving to Alaska should not be a problem if you love snow and snow-related activities.
Preparing for Winter
Alaskans are used to dealing with tough winters and taking precautions to protect themselves and their houses. It involves winterizing automobiles and residences, storing supplies, and ensuring they have appropriate winter attire, such as thick jackets, boots, and gloves.
Coping with Winter
Alaskans have evolved coping mechanisms for the long and gloomy winter months, such as remaining active and getting outside whenever possible, keeping a happy mindset, and participating in winter leisure activities. Moreover, many Alaskan villages host activities and festivals throughout winter to keep spirits up.
Activities
Alaska is rich in recreational and cultural opportunities, making it a perfect place to live for individuals who appreciate an active lifestyle and a vibrant community feel. You will not run out of things to see and do in Alaska, from outdoor sports and adventures to cultural events and festivals. Here are some activities to look forward to if you are moving to Alaska:
Sports and Adventures
- Alaska is a sanctuary for outdoor enthusiasts thanks to its untamed landscape and magnificent natural splendor.
- It offers a variety of activities, including bicycling, hiking, fishing, hunting, skiing, and snowboarding.
- The state is converted into a winter wonderland in the winter, making it ideal for snow activities like skiing and snowboarding.
- During the summer months, travelers may enjoy hiking paths that snake through imposing mountains and beautiful wilderness regions. Water sports like kayaking, fishing, and whale viewing are also offered along Alaska’s coastline during the cool summers.
Festivals and Cultural Events
The various cultural events and festivals throughout the year represent Alaska’s rich cultural legacy, which includes the following.
- The Alaska Native Heritage Center in Anchorage celebrates Alaska’s indigenous people’s rich customs
- The Alaska State Fair in Palmer is a festival of agriculture and community. The Sitka Summer Music Festival
- Iditarod Trail Sled Dog Race
- World Ice Art Championships
Arts
Alaska has a vibrant arts community, having several avenues for artistic and creative expression. There is something for everyone, from traditional Indian arts to modern art and music. You might want to check the following museums after moving to Alaska.
- The Anchorage Museum at Rasmuson Center: it is a must-see for art and culture enthusiasts, featuring exhibitions that explore Alaska’s history, art, and science.
- The Alaska State Council on the Arts: supports the arts across the state.
- The Alaska Center for the Performing Arts: presents several cultural events throughout the year.
Pros and Cons of Moving to Alaska
Alaska, just like any place in the world, has its own set of perks and downsides. If you’re planning on moving to Alaska, take into account the following advantages and disadvantages.
Pros
- Alaska is famed for its breathtaking natural splendor, which includes snow-capped mountains, glaciers, and crystal-clear lakes.
- With all that natural beauty comes several opportunities for outdoor activities, including hiking, skiing, fishing, and hunting.
- Different animals, such as moose, bears, bald eagles, polar bears, and caribou, may be viewed in their native environment in Alaska’s unspoiled wilderness.
- Alaska provides a slower pace of life but also a sense of adventure, whether it’s by visiting distant locations or participating in extreme activities.
- Alaska has a rich cultural legacy, including indigenous populations and a strong gathering, fishing, and hunting culture.
Cons
- Alaska experiences lengthy, frigid winters and brief, mild summers. Winter can be challenging, with short hours of daylight and heavy snowfall.
- Several sections of Alaska are distant and challenging to access, making travel and obtaining products and services difficult.
- Living in Alaska may be expensive, especially in more distant places where groceries and services need to be transported.
- The state is prone to earthquakes and volcanic eruptions.
FAQs: About Moving to Alaska
Below are some frequently asked questions people have about moving to Alaska.
Why are more people moving to Alaska?
More individuals are moving to Alaska for several reasons, and the state’s natural beauty and variety of outdoor leisure opportunities are two primary reasons.
- Alaska is known for its stunning scenery, which includes mountains, glaciers, and forests, and it provides activities such as hiking, fishing, hunting, skiing, and snowboarding.
- Alaska’s oil and gas economy is prospering, and its tourism business is expanding.
- The state provides several work opportunities related to healthcare, education, and government.
- Alaskans are noted for their strong sense of community and active participation in making the state a better place to live.
- It has no state and sales tax.
- Permanent residents receive a yearly Permanent Fund Dividend from the government.
- The state has a rich cultural legacy, with indigenous populations having a great impact.
- Alaska has a lively artistic sector.
What is it like moving to Alaska for a year or two?
Moving to Alaska for a year or two could be an exhilarating and one-of-a-kind experience. However, it can also be challenging if you have limited information about the place. Here are some things you should consider.
- Alaska is known for its stunning scenery, which includes mountains, glaciers, and forests, and it provides activities such as hiking, fishing, hunting, skiing, and snowboarding.
- Alaska’s oil and gas economy is prospering, and its tourism business is expanding.
Is moving to Alaska a good idea?
Alaska is physically separated from the rest of the country, making certain commodities and services more difficult to get. You may have to drive significant miles to reach a large city or town, depending on where you live in the state. However, moving to Alaska could be a fantastic idea if you are adventurous and enjoy traveling.
Where is the cheapest place to live in Alaska?
Due to its isolation and severe weather, Alaska is known for having a high cost of living. But what people don’t know is that there are also some parts of the state where it is affordable. Some of Alaska’s least expensive neighborhoods include Fairbanks, North Pole, Kenai, and Juneau. Moving to Alaska need not be expensive. You just need to do your homework, or you may ask a trusted real estate agent to help you find an affordable property in this state.
Buying and Selling Properties in Alaska
Working with a real estate agent is beneficial if you are trying to purchase or sell property in Alaska. Here are a few reasons:
Local Expertise
Alaska-market-savvy real estate agents offer helpful information into the purchasing or selling process, including the current state of the market, applicable laws, and property valuations.
Access to Property Listings
A greater variety of property listings, including some that are not accessible to the general public, are available to real estate brokers. They may assist you in locating residences that suit your particular requirements and interests.
Good Negotiator
The parameters of a transaction, such as the asking price, closing expenses, and other specifics, can be negotiated with the help of real estate agents. They can help you in obtaining the best offer and avoid common mistakes.
Legal Knowledge
Real estate purchases may be complicated as there are several legal factors to consider. Dealing with a real estate agent may assist in ensuring that all paperwork and legal procedures are met.
Time-Saver
Working with a real estate agent can help you expedite the process and save you time when buying or selling property.
Conclusion
Moving to Alaska may be a life-changing event. Alaska provides a genuinely unique lifestyle with its spectacular natural beauty, distinct culture, and plenty of outdoor activities. Yet, it is critical to conduct a study and plan for the risks and possibilities of living in the state.
If you’re moving to Alaska, one of the first things you’ll need to do is find a home that suits your needs and preferences. eXp Realty can help you find homes that correspond to your specifications. You may also sign up for notifications when new properties hit the market, ensuring you never miss out on potential properties.
While looking for houses is a crucial step, keep in mind the numerous advantages of dealing with a real estate agent. A local real estate agent can give vital market knowledge, assist you in negotiating sale terms, and guide you through the complicated legal procedures of purchasing or selling a home. So, if you are excited about moving to Alaska and owning a property there, get in touch with a competent real estate agent to learn more.
