Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 8,382, 3,459 total housing units (homes and apartments), and a median house value of $676,374, Sitka house prices are not only among the most expensive in Alaska, Sitka real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Sitka, accounting for 50.12% of the city's housing units. Other types of housing that are prevalent in Sitka include duplexes, homes converted to apartments or other small apartment buildings ( 23.15%), large apartment complexes or high rise apartments ( 10.90%), and a few mobile homes or trailers ( 9.71%).
The most prevalent building size and type in Sitka are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.26% owning and 37.74% renting.
There is a lot of housing in Sitka built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sitka built between 1940-1969 ( 24.87%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.79%). There's also some housing in Sitka built before 1939 ( 4.25%).
Vacant housing appears to be an issue in Sitka. Fully 16.41% of the housing stock is classified as vacant. Left unchecked, vacant Sitka homes and apartments can be a drag on the real estate market, holding Sitka real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Sitka have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.31%, which ranks in the top 50% nationwide. This equates to an annual average Sitka house appreciation rate of 6.53%.
Appreciation rates are so strong in Sitka that despite a nationwide downturn in the housing market, Sitka real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sitka appreciation rates continue to be some of the highest in America, at 16.91%, which is higher than appreciation rates in 98.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sitka. Sitka appreciation rates in the latest quarter were at 9.08%, which equates to an annual appreciation rate of 41.56%.
Importantly, this makes Sitka one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alaska, our data show that Sitka's latest annual appreciation rate is higher than 90% of the other cities and towns in Alaska.
$676,374
for Alaska
for nation
3,459
$2,115 / per month