Bristol Bay Borough Real Estate and Livability Trends
Bristol Bay Borough, Alaska is showing intriguing trends in its real estate market. Average taxable income jumped to $77,785.37 in 2021 from $56,764.81 in 2013, suggesting economic growth. Meanwhile, median home values rose from $187,500 in 2015 to $253,400 by 2022, hinting at unique local demand dynamics. Real estate taxes have varied notably, indicating shifting property values or tax policies.... Read more
Bristol Bay Borough Market Trends
Bristol Bay Borough's median home value rose moderately, from $187,500 in 2015 to $253,400 by 2022, compared to a steadier climb in Alaska overall. This fluctuation suggests unique local demand or economic factors. Additionally, average real estate taxes in the borough varied notably, with peaks and dips over six years, possibly reflecting shifting property values or tax policy changes. Mortgage... Read more
Median Value of Occupied Housing Units in Bristol Bay Borough, Alaska Over the Last 8 Years
Bristol Bay Borough's median home values over the past 8 years show an interesting trend when compared to Alaska and national figures. From 2015's $187,500, the median home value rose moderately, hitting $253,400 by 2022. While Alaska saw more consistent growth, topping at $318,000 in 2022 from $250,000 in 2015, Bristol Bay Borough experienced more fluctuation. This could suggest varying demand or economic factors unique to the borough. Nationally, the values consistently increased from $125,500 in 2015 to $179,400 in 2022, highlighting a less volatile market. For investors and future residents, the fluctuations in Bristol Bay Borough might indicate a possibility of both opportunity and risk.
Average Real Estate Taxes Per Tax Return in Bristol Bay Borough, AK Over the Last 6 Years
Average real estate taxes per tax return in Bristol Bay Borough, Alaska have displayed some notable fluctuations over the past six years. Starting at $1,825.00 in 2012, there's a noticeable peak in 2014 at $2,466.67, followed by a dip and then a more stable period around $2,100.00. For investors or prospective residents, this variability in taxes could suggest shifts in local property values or changes in municipal tax policies, impacting the overall appeal and cost of owning property in the area.
Number of Mortgages by Occupancy Type in Bristol Bay Borough, AK Over the Last 5 Years in Bristol Bay Borough
The mortgage trends in Bristol Bay Borough, Alaska, indicate a notable fluctuation in activity based on occupancy type. Principal residences consistently have the highest mortgage counts, peaking at 24 in 2021, which might suggest a stable demand for primary housing. Investment properties show intermittent activity, with varied counts over the years, hinting at a less predictable market for rental or commercial use. Second residences have the lowest mortgage activity, implying a limited market for vacation or secondary homes. These dynamics could influence decisions for investors, developers, and insurance agents, as they often reflect broader economic conditions and demands in the region. Understanding the distribution of mortgage types helps appraisers and real estate agents better assess property values and market opportunities.
Economic Outlook
In Bristol Bay Borough, Alaska, the average taxable income per tax return has seen a significant rise, hitting $77,785.37 in 2021 from $56,764.81 in 2013, signaling potential economic growth and affluence. Concurrently, average total tax liabilities increased from $8,173.91 in 2012 to $11,475.68 in 2021, reflecting not only higher financial contributions from residents but also a more demanding fiscal environment. These trends suggest a burgeoning local economy, possibly attracting new... Read more
Average Taxable Income per Tax Return in Bristol Bay Borough, AK over the last 9 years
Over the past nine years, Bristol Bay Borough, AK has experienced fluctuating average taxable incomes per tax return, showing significant growth particularly in recent years. Starting from $56,764.81 in 2013, there were dips and rises with a notable increase to $70,165.31 in 2019 and reaching a peak of $77,785.37 in 2021. This upward trend signals a potential increase in economic activity and affluence, which could be appealing for new residents or investors looking to benefit from a thriving local economy.
Average Total Tax Liability Per Tax Return in Bristol Bay Borough, AK Over the Last 10 Years
Over the last decade, Bristol Bay Borough, Alaska has seen a notable increase in average total tax liability per tax return, rising from $8,173.91 in 2012 to $11,475.68 by 2021. Key jumps are observed in 2019 and 2021, with figures moving to $10,532.56 and $11,475.68 respectively, indicating a trend towards higher financial contributions from residents. This trend suggests a growing economic environment, which could attract investors and new residents looking for a rising market, but might also reflect increasing fiscal demands on current property owners and locals.
Cost of Living in Bristol Bay Borough
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,559 | $1,922 | $2,739 | $1,635 | $1,714 |
| 1 adult 4 children | $1,559 | $1,570 | $2,119 | $1,635 | $1,813 |
| 2 adults 3 children | $1,559 | $1,570 | $2,364 | $1,635 | $1,414 |
| 1 adult 3 children | $1,559 | $1,282 | $1,744 | $1,635 | $1,517 |
| 2 adults 2 children | $1,097 | $1,285 | $1,989 | $1,427 | $1,074 |
| 1 adult 2 children | $1,097 | $960 | $1,369 | $1,427 | $1,058 |
| 2 adults 1 child | $1,097 | $1,016 | $1,614 | $752 | $893 |
| 1 adult 1 child | $1,097 | $656 | $995 | $752 | $777 |
| 2 adults | $833 | $816 | $1,239 | $0 | $715 |
| 1 adult | $769 | $445 | $620 | $0 | $573 |
Safety trends & Data
Bristol Bay Borough, Alaska has seen some changes in property crimes over the last five years, including steady burglary rates that peaked at three incidents in 2020. Motor vehicle thefts and vandalism have generally shown minimal fluctuations, but the emergence of fraud cases in 2021 and 2022 could indicate new risks. Investors or developers might want to weigh these crime trends when evaluating the area's potential for growth and... Read more
Property Crime Trends in Bristol Bay Borough, AK Over the Last 5 Years
Bristol Bay Borough, Alaska has observed a modest fluctuation in property crimes over the past five years. Noteworthy trends include a relatively consistent incidence of burglary, peaking at three occurrences in 2020, while motor vehicle thefts and vandalism incidents remained steady with few upticks. The introduction of fraud cases in 2021 and 2022 indicates potential shifts in the criminal landscape. Those looking to invest or build property in the region should consider these fluctuations alongside other factors when assessing risk and opportunities.
Demographics
In Bristol Bay Borough, Alaska, males slightly outnumber females among the adult population, though the difference isn't stark. The area seems to have a fairly educated populace with a notable percentage reaching at least some college education, yet most adults only have a high school diploma or some college experience without a degree. The population skews younger with a sizable group between 25 and 34 years old. Racially, the borough is predominantly White, closely followed by American Indian... Read more
Race Distribution in Bristol Bay Borough, Alaska (2022)
Educational Attainment in Bristol Bay Borough, Alaska (2022)
Age Distribution in Bristol Bay Borough, Alaska
Citizen Population in Bristol Bay Borough, Alaska (2022)
School Data
Bristol Bay Borough, Alaska has experienced significant swings in its student-to-teacher ratio, peaking at 131 in 2016 and dropping as low as 9 in 2020. Recently, the ratio has settled closer to the national average, with 14 students per teacher in 2022 and rising slightly to 20 in 2023. These fluctuations could impact property investment decisions, family relocations, and local real estate valuations. Lower ratios might suggest a more personalized education, appealing to parents, while higher... Read more
Student-to-teacher ratio in Bristol Bay Borough, Alaska over the last 10 years
Bristol Bay Borough, Alaska has seen a dramatic fluctuation in its student-to-teacher ratio over the past decade, peaking at 131 in 2016 and dropping as low as 9 in 2020. More recently, the ratio has settled closer to the national average, with 14 students per teacher in 2022 and rising slightly to 20 in 2023. These variations could significantly affect decisions for those looking to invest in property, families considering relocation, and the valuation of local real estate. Lower ratios might indicate a more personalized education, appealing to parents, while higher ratios could suggest either a potential strain on educational resources or shifts in population, relevant for appraisers and real estate agents. Understanding these changes helps stakeholders gauge the appeal and future potential of the area.
