Skagway Municipality Real Estate and Livability Trends
Skagway Municipality, Alaska saw significant swings in average taxable income per tax return over the past nine years, peaking in 2019 at $69,428.95 before dropping sharply in 2020 to $50,935.94. This economic volatility, likely influenced by its tourism dependency, indicates potential risks and opportunities that investors should weigh. Additionally, the median home values have seen a steady... Read more
Skagway Municipality Market Trends
Skagway Municipality's median home values have been on a generally upward trend, reaching $434,300 in 2022, significantly higher than the Alaska state median of $318,000 and the national figure of $179,400. This growth hints at a lucrative opportunity for investors or developers, reflecting strong demand in this unique market. Average real estate taxes have fluctuated between $1,660.00 and... Read more
Median Value of Occupied Housing Units in Skagway Municipality, Alaska Over the Last 8 Years
Skagway Municipality's median home values have shown a varying yet upward trend over the past eight years, hitting $434,300 in 2022. Despite slight dips in 2016 and 2017, the area's 2022 median is substantially higher than both the Alaska state median of $318,000 and the national figure of $179,400. This steep growth indicates a lucrative opportunity for investors or those looking to build property in Skagway, Alaska, suggesting a strong demand and potentially promising returns in this unique market.
Average Real Estate Taxes Per Tax Return in Skagway Municipality, AK Over the Last 7 Years
Skagway Municipality, Alaska has experienced some fluctuation in average real estate taxes per tax return over the past seven years, ranging from a high of $2,044.44 in 2013 to a low of $1,660.00 in 2015. This steady variation could potentially impact decisions for prospective investors or homebuyers looking for consistency or anticipating future tax liabilities. Notably, while there was a dip in 2015, the average taxes generally remained around the $2,000 mark, suggesting relatively stable, if not slightly unpredictable, tax expectations.
Number of Mortgages by Occupancy Type in Skagway Municipality, AK Over the Last 5 Years in Skagway Municipality
Skagway Municipality in Alaska has shown fluctuating trends in mortgage counts over the past five years. Principal residences consistently dominated the market, peaking in 2020 with 66 mortgages, while investment properties remained relatively stable with minor variations. This trend highlights a pronounced preference for owner-occupied homes, which carries implications for real estate values, rental market dynamics, and potential underwriting risks. For those looking to invest, this suggests a stable residential demand, whereas real estate agents and builders might see opportunities in meeting housing supply for primary residents. Appraisers and insurance agents need to consider how the prevalent occupancy types could impact property valuation and insurance risk profiles.
Economic Outlook
Skagway Municipality, Alaska has experienced considerable fluctuation in average taxable income per tax return over the past nine years, with highs in 2017 ($60,959.21), 2018 ($63,311.84), and 2019 ($69,428.95), followed by a sharp decline to $50,935.94 in 2020. This volatility, likely tied to the region's dependency on tourism, suggests economic highs and lows that potential residents and investors should carefully consider. Additionally, the region's average total tax liabilities per tax... Read more
Average Taxable Income per Tax Return in Skagway Municipality, AK over the last 9 years
Over the past nine years, Skagway Municipality, AK has seen fluctuating averages in taxable income per tax return, with notable peaks in 2017 ($60,959.21), 2018 ($63,311.84), and 2019 ($69,428.95), followed by a significant dip in 2020 ($50,935.94). This indicates economic volatility, possibly reflecting local industry impacts, such as tourism, which is a crucial sector. For those considering moving or currently living in Skagway, it's essential to consider these financial trends as they highlight both growth periods and potential economic challenges.
Average Total Tax Liability Per Tax Return in Skagway Municipality, AK Over the Last 10 Years
Skagway Municipality in Alaska has seen fluctuating average total tax liabilities per tax return over the last ten years. Peaks occurred in 2013 and 2017, with the tax liability hitting $9,327.27 and $9,850.00 respectively. Conversely, 2020 marked a significant drop to $6,532.00, likely reflecting broader economic impacts. These trends are crucial for potential investors and property developers as they indicate fiscal stability and economic resilience in the region.
Cost of Living in Skagway Municipality
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,690 | $1,858 | $2,358 | $1,783 | $1,620 |
| 1 adult 4 children | $1,690 | $1,517 | $1,825 | $1,783 | $1,750 |
| 2 adults 3 children | $1,690 | $1,518 | $2,035 | $1,783 | $1,345 |
| 1 adult 3 children | $1,690 | $1,239 | $1,502 | $1,783 | $1,460 |
| 2 adults 2 children | $1,389 | $1,242 | $1,712 | $1,556 | $1,077 |
| 1 adult 2 children | $1,389 | $928 | $1,179 | $1,556 | $1,125 |
| 2 adults 1 child | $1,389 | $982 | $1,389 | $819 | $913 |
| 1 adult 1 child | $1,389 | $634 | $856 | $819 | $842 |
| 2 adults | $1,072 | $789 | $1,066 | $0 | $724 |
| 1 adult | $963 | $430 | $533 | $0 | $605 |
Demographics
Skagway Municipality in Alaska seems to have a slightly higher female population than male population. The educational landscape reveals a notable portion of the population has attended some college, with many completing at least a high school diploma. There appears to be a significant percentage of residents in their mid-20s to mid-30s, which could imply a youthful, potentially working-age demographic. Racially, the population is predominantly White, with very few African American, Asian, or... Read more
Race Distribution in Skagway Municipality, Alaska (2022)
Educational Attainment in Skagway Municipality, Alaska (2022)
Age Distribution in Skagway Municipality, Alaska
Citizen Population in Skagway Municipality, Alaska (2022)
School Data
In Skagway Municipality, Alaska, the student-to-teacher ratio has hovered between 9 and 11 students per teacher over the past decade, consistently below the national average of 14. This pattern might appeal to families seeking personalized education, potentially driving up property demand. Real estate values and investment potential could be affected, as quality education often influences appraisal and insurance... Read more
Student-to-teacher ratio in Skagway Municipality, Alaska over the last 10 years
Over the past decade, Skagway Municipality in Alaska has consistently maintained a student-to-teacher ratio below the national average of 14 students per teacher. Ratios here have fluctuated between approximately 9 and 11, with notable lows around 9 in 2015 and 2017, and moderate highs around 11 in 2014 and 2020. While this smaller class size could be attractive to potential residents who prioritize personalized education for their children, it may also influence real estate values and investment potential, as a desirable school district can boost property demand. Additionally, appraisers and insurance agents might factor in the quality of local education when assessing property value and risk.
