Matanuska-Susitna Borough, Alaska Housing Market
In Matanuska-Susitna Borough, Alaska, the median home value is $346,600, with a median monthly rent of $1,299. This places Matanuska-Susitna Borough at #434 nationally out of 3134 counties by median home value, and #8 within Alaska.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,146
- Establishments: 2,802
- BLS QCEW, 2025
Housing Supply
- Single-family: 79
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 43,344 (avg $88,843)
- Outflow: 39,531 (avg $89,833)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Matanuska-Susitna Borough · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 99645 | 274.0 | +7.88% | 2025 |
| 2 | 99623 | 257.5 | +5.32% | 2025 |
| 3 | 99654 | 258.9 | +3.75% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
📝 Local Market Notes
Matanuska-Susitna Borough presents a balanced-to-slightly-buyer’s market, characterized by high ownership rates and moderate rental burdens. The 77.2% owner-occupancy rate indicates strong residential stability, while the 16.6% rent burden sits below the national average of 17.2%, suggesting reasonable affordability for tenants relative to local incomes. However, the price-to-income ratio of 3.69 exceeds the national benchmark of 3.20, signaling that home entry costs are becoming more demanding for the average household. This divergence is further highlighted by a price-to-rent ratio of 22.2, which is significantly higher than the national average of 18.7, indicating that purchasing equity is currently less cost-effective than renting when compared to broader national standards. The market has experienced accelerated appreciation, with median home values rising from $235,600 in 2017 to $346,600 in 2024. This trajectory includes a sharp 12.0% increase in 2022 and continued 8.6% growth in 2024, outpacing the more gradual 2.5% to 3.6% annual gains observed between 2018 and 2021. Recent FHFA data confirms this momentum, showing a 5.29% year-over-year price increase in 2025, though this lags behind the state’s 8.28% growth, marking a 2.99 percentage point underperformance relative to Alaska’s broader market. This deceleration suggests the county is stabilizing after its rapid expansion phase, yet it remains 22.3% above the state average and 52.2% above the national median home value. Economic fundamentals support this sustained demand, driven by a median household income of $94,031, which is 38.3% higher than the national average. Local employment supports this income level with an average weekly wage of $1,146 across 24,505 jobs. Despite this economic strength, housing supply remains constrained, with only 79 new single-family units authorized in 2025 and zero multi-family permits, creating a structural imbalance. Net migration of 3,813 filers between 2021 and 2022 further intensifies demand, with inflowing households averaging $88,843 in income. For potential buyers, the combination of high mortgage rates at 7.40% and limited new supply implies that entry-level options will remain scarce, while renters may find relative stability in the housing stock despite rising asset values.
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| Metric | Matanuska-Susitna Borough | Alaska Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $346,600 | $283,493 | $227,706 |
| Median Gross Rent | $1,299 | $1,248 | $968 |
| Owner Occupancy Rate | 77.2% | 64.7% | 73.3% |
| Price/Rent Ratio | 22.2 | 19.0 | 18.7 |
Market Analysis
The median home value in Matanuska-Susitna Borough is 22.3% above the Alaska state average and 52.2% above the U.S. national average. The median rent of $1,299/month is 4.1% above the state average.
With a price-to-rent ratio of 22.2, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Matanuska-Susitna Borough has an owner-occupancy rate of 77.2%, compared to 64.7% in Alaska and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Anoka County | Minnesota | $346,500 | $1,464 |
| Warren County | New Jersey | $346,500 | $1,409 |
| Lawrence County | South Dakota | $346,500 | $938 |
| Northumberland County | Virginia | $346,800 | $1,038 |
| Montgomery County | Texas | $346,200 | $1,532 |
Other Counties in Alaska
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Chugach Census Area | $346,200 | $1,369 | 63.8% |
| Kenai Peninsula Borough | $323,200 | $1,184 | 77.0% |
| Petersburg Borough | $315,100 | $950 | 65.7% |
| Ketchikan Gateway Borough | $393,300 | $1,505 | 68.6% |
| Fairbanks North Star Borough | $298,200 | $1,459 | 61.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).