Lake and Peninsula Borough Real Estate and Livability Trends
Lake and Peninsula Borough, Alaska has seen its median home values surge to $167,000 in 2022, still trailing behind both the state average of $318,000 and the national average of $179,400. Mortgage counts for principal residences peaked at 14 in 2018 and 2020, hinting at stable demand for permanent housing. The local student-to-teacher ratio, consistently around 7 to 8, stands out against the... Read more
Lake and Peninsula Borough Market Trends
In Lake and Peninsula Borough, Alaska, median home values hit a high of $167,000 in 2022, still lower than both the Alaska state average of $318,000 and the national average of $179,400. A notable drop occurred in 2017 and 2019, but the recent upswing might point to increased demand or limited housing supply. Mortgage counts for principal residences peaked at 14 in 2018 and 2020, suggesting... Read more
Median Value of Occupied Housing Units in Lake and Peninsula Borough, Alaska Over the Last 8 Years
Median home values in Lake and Peninsula Borough, Alaska have exhibited a fluctuating trend over the past eight years, peaking at $167,000 in 2022. This borough's home values have generally been lower than both the state average in Alaska, which reached $318,000 in 2022, and the national average of $179,400 that same year. Although home values dipped significantly in 2017 and 2019, the recent surge could indicate growing demand or limited housing supply, making it a potential investment hotspot.
Number of Mortgages by Occupancy Type in Lake and Peninsula Borough, AK Over the Last 5 Years in Lake and Peninsula Borough
Lake and Peninsula Borough, Alaska shows fluctuating mortgage counts over the past five years, with a marked emphasis on principal residences. The number of mortgages for principal residences peaked at 14 in both 2018 and 2020, while other occupancy types such as second residences and investment properties saw minimal counts. For potential investors and real estate agents, observing higher mortgages in principal residences might suggest stable demand for permanent housing, possibly indicating a stabile or slowly growing local economy. Appraisers and insurance agents might find these trends beneficial for assessing the area's risk profile and property values. Builders considering new projects might focus on creating residential homes rather than vacation or rental properties due to the stronger demand.
Economic Outlook
Lake and Peninsula Borough, Alaska has had a roller-coaster ride with average taxable income, dropping from $43,038.96 in 2013 to $35,262.16 in 2015, but then climbing to $53,989.47 in 2021. Similarly, tax liability per tax return has seen peaks, such as $7,431.48 in 2013 and $6,472.92 in 2021, with a low point at $4,538.89 in 2015. These fluctuations hint at a shifting yet improving economic landscape that could entice new residents and investors hunting for growth and stability... Read more
Average Taxable Income per Tax Return in Lake and Peninsula Borough, AK over the last 9 years
Over the past nine years, Lake and Peninsula Borough, AK has seen considerable fluctuation in average taxable income. A notable decline from $43,038.96 in 2013 to $35,262.16 in 2015 was followed by a rebound, peaking at $53,989.47 in 2021. This upward trend in more recent years suggests economic improvement, which could be attractive for new residents or investors looking for signs of growth and stability.
Average Total Tax Liability Per Tax Return in Lake and Peninsula Borough, AK Over the Last 10 Years
In Lake and Peninsula Borough, Alaska, tax liability per tax return has shown notable fluctuations over the last decade. Peaks were observed in 2013 at $7,431.48 and recently in 2021 at $6,472.92, indicating economic shifts and possibly changes in local income levels. On the other end, there's a notable dip in 2015 when the liability dropped to $4,538.89. These trends provide potential indicators for investors and residents alike, suggesting a dynamic economic environment that can influence financial planning and real estate decisions.
Cost of Living in Lake and Peninsula Borough
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,204 | $1,922 | $2,739 | $1,477 | $1,226 |
| 1 adult 4 children | $1,204 | $1,570 | $2,119 | $1,477 | $1,319 |
| 2 adults 3 children | $1,204 | $1,570 | $2,364 | $1,477 | $959 |
| 1 adult 3 children | $1,204 | $1,282 | $1,744 | $1,477 | $1,026 |
| 2 adults 2 children | $863 | $1,285 | $1,989 | $1,289 | $749 |
| 1 adult 2 children | $863 | $960 | $1,369 | $1,289 | $695 |
| 2 adults 1 child | $863 | $1,016 | $1,614 | $679 | $678 |
| 1 adult 1 child | $863 | $656 | $995 | $679 | $543 |
| 2 adults | $733 | $816 | $1,239 | $0 | $572 |
| 1 adult | $605 | $445 | $620 | $0 | $457 |
Demographics
Lake and Peninsula Borough, Alaska has an almost balanced gender distribution among its adult population. Educational trends indicate a community where high school education is prevalent, but higher education remains relatively less common. The age distribution shows a notable concentration of residents in younger age brackets, particularly under 35 years, suggesting potential growth in workforce capacity. The racial composition is predominantly American Indian and Alaska Native, with a small... Read more
Race Distribution in Lake and Peninsula Borough, Alaska (2022)
Educational Attainment in Lake and Peninsula Borough, Alaska (2022)
Age Distribution in Lake and Peninsula Borough, Alaska
Citizen Population in Lake and Peninsula Borough, Alaska (2022)
School Data
The student-to-teacher ratio in Lake And Peninsula Borough, Alaska, consistently around 7 to 8 students per teacher, contrasts sharply with the national average of 14. This more favorable ratio might not only translate to better individual student attention and potentially superior educational outcomes but also serves as a compelling factor for families considering relocation. Real estate investors, appraisers, and agents may find this statistic useful as it reflects positively on the... Read more
Student-to-teacher ratio in Lake And Peninsula Borough, Alaska over the last 10 years
Over the past decade, the student-to-teacher ratio in Lake And Peninsula Borough, Alaska, has hovered around 7 to 8 students per teacher, which is notably lower than the national average of 14 students per teacher. This more favorable ratio could imply better individual attention for students, potentially leading to improved educational outcomes. For real estate investors or those considering a move, such metrics can be a significant draw, indicating a potentially higher quality of education. Appraisers and insurance agents might also find this data relevant as it can indirectly reflect on community quality and stability. Real estate agents could leverage this aspect to attract families prioritizing education.
