Alaska is absolutely massive and contains few major cities, namely the largest city Anchorage and the capital Juneau, plus Fairbanks. More important is the fact that Alaska, like Hawaii, has a cost of living that leaves the 48 contiguous states in the dust.
This makes Alaska a fascinating state to analyze in terms of wealth and property values. Read on to find out the most expensive ZIP codes in Alaska in 2024, based on the latest data from Zillow’s home value index.
The Most Expensive ZIP Codes in Alaska
Harnessing data from Zillow’s home value index, as well as the Census Bureau’s 2023 American Community Survey, we analyzed thousands of ZIP codes across the country as part of a general survey of expensive places. From there, we focused our attention on Alaska. The Zillow home value index tracks (as of November 2024) the home values of 48 ZIP codes in Alaska.
As part of our analysis, we took into consideration the latest monthly home values Zillow has — November 2024 — as well as the average of 12 months of median home values from December 2023 to November 2024.
Although home values have grown immensely across America since the pandemic-induced buying frenzy, home value appreciation among the top most expensive ZIP codes in Alaska have been more gradual. Farther down the list, however, we can see much greater rates of home value appreciation over the last five years.
The Top 5 Most Expensive ZIP Codes in Alaska
The No. 1 most expensive ZIP code in Alaska is 99516, which covers southeast Anchorage, specifically several communities like Huffman/O’Malley, Rabbit Creek, Bear Valley, and Glen Alps. The location is beautiful, especially near the coast. Wealth here is plentiful, with the median household income being $160,341, which even for Alaska’s elevated cost of living is quite high. The average household income is $203,294. Home values have risen steadily, by 23.9%, from a median home value of $508,375 in November 2019 to $630,129 in November 2024.
The second most expensive ZIP code in Alaska is 99540. This ZIP code is also southeast of downtown Anchorage, and southeast of the No. 1 most expensive ZIP code. Centered on the community of Indian, though within Anchorage city limits, ZIP code 99540 stretches from Beluga Point in the west to Bird Point in the east. The median household income is actually lower than the statewide median, at $82,969. The average household income is $103,370. Home value appreciation here has also been steady rather than a surge. From a median home value of $483,319 in November 2019, it rose by 17%, to reach $565,296 in November 2024.
The third most expensive ZIP code in Alaska is 99801, which is centered on Juneau; and it is huge. Home values are affected by small groups of expensive houses that bring the whole average upward. Incomes here are higher than the national average, but within range of Alaska’s overall median: The median household income is $101,141 and the mean household income is $124,113. Home values increased by one-fifth, from a median home value of $407,936 in November 2019, up to $489,328 by November 2024.
The Bottom Line on the Most Expensive ZIP Codes in Alaska
Out of the top 10 most expensive ZIP codes in Alaska, one ZIP codes — 99572 — witnessed double-digit home value growth over one year: 11.1% year-over-year increase, from $416,930 in November 2023 to $463,151 in November 2024. ZIP code 99572 is in the Anchorage area, though centered on Cooper Landing, south of downtown Anchorage at the outlet of Kenai Lake.
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