Why Are People Staying in Their Homes Longer? A Look at Alaska’s Shifting Population Trends

If you’ve been following real estate trends, you may have noticed that homeowners are staying in their homes longer than ever before. Nationwide, the average homeowner tenure has increased significantly, and Alaska is no exception. But while the state’s overall population is seeing slight declines, certain regions—like the Mat-Su Valley—are bucking the trend and experiencing growth. So, why are some Alaskans staying put while others are making moves? Let’s dive in.

Alaska’s Population Trends: A Tale of Two Markets

Alaska’s population has been fluctuating in recent years, with some areas experiencing stagnation and others seeing steady growth.

Statewide Trends

• Overall Population Decline: As of July 1, 2024, Alaska’s population reached 741,147, reflecting a modest 0.3% increase from the previous year. However, long-term projections indicate a slight decline of nearly 2% by 2050, largely due to sustained outmigration, rising death rates, and lower birth rates.
• Net Migration Loss: Alaska continues to see more people leaving than moving in, with a net migration loss of 1,163 people in the past year, though this was offset by a natural increase (births minus deaths) of 3,437 residents.

Anchorage: Population Stagnation

Anchorage, the state’s largest city, has struggled with population stagnation:

• Between 2010 and 2016, Anchorage’s population grew by just 2%, significantly lower than other regions.
• A lack of new job opportunities, high living costs, and a desire for more affordable housing have contributed to slower growth.

Mat-Su Valley: The Fastest-Growing Region in Alaska

In contrast, the Mat-Su Valley has become a hotspot for population growth:

• Booming Growth: Between 2010 and 2020, the Mat-Su Borough’s population surged by 21.7%, reaching 107,081 residents.
• Continued Expansion: From 2022 to 2023, the population grew 1.86%, climbing from 108,661 to 110,677.
• Long-Term Projections: The borough’s population is expected to reach 300,000 within the next 60–100 years, making it one of Alaska’s fastest-growing regions.

Why Is the Mat-Su Valley Thriving?

Several factors are driving growth in the Mat-Su Valley:

✅ More Affordable Housing – Compared to Anchorage, the Mat-Su Valley offers larger homes at lower prices.
✅ Commuter Accessibility – Many residents work in Anchorage but prefer the quieter, more suburban lifestyle of the Valley.
✅ Job Growth – Increased opportunities in healthcare, retail, and local businesses are attracting new residents.
✅ Quality of Life – Access to outdoor recreation, larger properties, and a strong sense of community make it a desirable place to live.

Why Are Homeowners Staying in Their Homes Longer?

While some Alaskans are relocating, many are choosing to stay put for longer than in previous decades. Historically, homeowners moved every 6–7 years, but today, the median tenure has increased to over a decade.

Here’s why:

🏡 Low Mortgage Rates – Many homeowners locked in historically low interest rates and don’t want to trade them for today’s higher rates.
🏡 Limited Inventory – With fewer homes on the market, sellers hesitate to list their homes without clear options for their next move.
🏡 Aging in Place – More baby boomers are choosing to stay in their homes rather than downsize or relocate.
🏡 Affordability Challenges – Rising home prices make moving financially difficult for some homeowners.

Want to see which metro areas have the longest home tenures? Check out this tool from the National Association of Realtors:
🔗 How Long Do Homeowners Stay in Their Homes?

What This Means for Alaska’s Real Estate Market

Understanding these trends is crucial for anyone looking to buy, sell, or invest in real estate:

✔ Increased Home Demand in Growth Areas – The Mat-Su Valley’s expansion means more housing developments and potential for property appreciation.
✔ Stabilized Market in Anchorage – With slower population growth, the Anchorage market may see steadier home prices but fewer bidding wars.
✔ Opportunities for Sellers – With limited inventory, sellers in sought-after areas can still find strong demand.

If you’re thinking about buying or selling in Alaska, let’s chat! Whether you want to capitalize on the Mat-Su Valley’s growth or navigate Anchorage’s stabilizing market, I’m here to help you make the best decision for your future.

📩 Let’s Connect!