Places to rent in Anchorage...
I'm moving up in May to Anchorage. I've been looking on Craigslist to get an idea of what's available. Looks like a lot of junk and trashy places for way too much money. Are there any decent places to rent, for a reasonable price in anchorage? I really don't understand why rent is so much up there.
Anyway, any complexes that anyone would recommend? Looking for something temporary so we can get up there and look for something a little more permanent.
How big of place do you need and what is your price range?
When I moved this way 28 years ago I thought then that rent was to high.Where I was coming from back then, rent was about 100 a month. Here it was 700-800.It's only gone up from there. If you have to be in Anchorage, to find rent that is lower you might want to look into the area that it's in as there are some pretty bad parts of town you may not want to live.
If you want to save a little on rent you can check out the mat-su valley.
It's a little less costly, but then you have to drive 40-60 miles to town for work like 50,000+ others do. The way that I got around the high rent back when I moved here was to bring a small camper and live in that for the first summer and buy into some raw land and start building your own place out of your pocket as you can. To give you an idea of how crazy rent is here in the valley there are some small cabins (16x20) with power but no water and they go for $500 a month. Good luck with your move!
Easy, supply and demand.
Originally Posted by mossyhorn
Alaska, even Anchorage, isn't like other places.
I'm looking for a 2 bedroom, with a washer and dryer, preferably a garage, house or apartment. Would like to spend under $1200.
I really don't hold a whole lotta water in the supply vs. demand thing. I see the same ads up week after week, sometimes for months. I don't believe there is that high of a demand for places to live to justify that high of a price. Some rent prices are 2 times what a mortgage would be on the same place. I doubt very much there is a housing shortage when I see a list a mile long for homes and condos for sale every day and same places for rent continuously.
Then contact the landlord and bargain down. If you're willing to sign a lease, they should be willing to drop the rent.
Originally Posted by mossyhorn
Unless they are wacko. And after renting for a few years when I was younger, that might just be the case.
I just looked on Alaskalist and there were several places for rent in your price range. If you insist on having a washer/dryer in your unit, you're going to be looking at renting a condo.
You may be suprised on how much our mortgages are up here, I pay $350 a month just on the taxes on a 250k little house. I would say just keep looking, a couple years ago I was paying $1300 a month on a 2 Bedroom, with garage and a shared washer/dryer.
Originally Posted by mossyhorn
Do you already have a job in Anchorage? I know if I didn't work in town I would live out in the valley or farther. Also in May/June seems like alot of military transfer during that time, might open up a few more places.
things to consider with housing and other-
first of all your welcome to alaska,
i haven't met anyone else coming this year, but many are leaving. ever since the economic woes in the lower 48 we have be inidated with new comers moving to alaska. people have moved up from all over down there.
these guys are just telling you there opinions, and.......they know what they know. realisitcally somethings you will just have to find out for yourself. my 2 cents worth is you should look into you job prospects first here immediately if you haven't already.
something about alaska that is not common knowledge outside is that our economy lags behind the lower 48. right now are economy is in a free fall. so i think that maybe of importance if you are unaware. i don't see you as the welfare type- like so many of the newbies that just landed here last year.
the new people here have created a problem in the, believe it or not "supply and demand" for jobs. and, as of march 12th the unemployment rate on the kenai peninsula is 13.1%. many places here have well above that. where your leaving from is headed a different direction than where your going. as long as you know that.
it's the worst its been since the oil embargo of the early 80's....some thirty years. it is just shinking in here and it's still in the falling stages. here a little link to check the facts, so you know i'm not whistling dixie-
you can click on the individual areas and go back in time and see where were at and where we are at and make your best guess as where were headed and when it will stop.
perhaps you have already done your homework, but in case not i just wanted to let you know. you see alaska is so small population wise and has such few jobs to begin with that the few new residents (actauly more like temporary visitors) we have recieved and other factors have hurt the local job markets bad. there was only about 300,000 year round jobs here anyway to begin with. while a washer and dryer is had here by most, washing clothes by hand can save money and i think you'd be suprised how many people here do
our pfd has also crashed right along with the stock market so we'll all be gettting less and less in the coming years. i'm telling you it is tough times here to make sure you are aware. the gas pipeline dream is not a reality and the oil production is fadding fast. you do sound financially stable and i hope you are because there is not telling how far alaska's ecomomny is going to fall.
i am not trying to discourage you. undersatnd alaska don't export much, but we import everything. it costs a lot to live here and you don't understand why? the price of gas in my town, slowdotna is 3.50 a gallon. many of the guys on here pay upwards of 6.50 a gallon. i am sure you can make it here if you really want to. i recommend getting a place with paid heat, your heating bills......i'll stop there.
if sure your coming keep learning, asking questions, getting prepared, that is all good.
hope this helps you whatever you do
hava nice day
Thanks for the replies. I can understand how commodities are more expensive, most everything needs to be imported and the climate makes it tougher to get things there. I have done a ton of research for the last 6 months. My wife has a job waiting and she's being transferred within her company, she's a manager. I'm a healthcare professional and in the process of getting a job, sounds like I have one waiting as of now, not 100% though. The wife's income is enough for the two of us.
Thanks for the help, I'll keep looking.
Thank you for informing me of the AlaskaList website. I haven't seen that site before and it was helpful and there were several places that seemed a bit more reasonable.
The Alaskan rental market is different from most in the lower 48. You have quite a few people that come up for short term work 2-4 years where their employers cover a portion of their rent. Fed Government employees get a tax free cost of living adjustment, and I believe the military gives a housing stipend as well.
There was a housing boom in the 80's, but after it crashed, housing never really picked up much steam. So there is still a supply and demand issue, and we have high housing costs, whether you rent or buy.
Keep in mind that in Anchorage the real estate system is maxed out in terms of available land to develop. This keeps the supply limited, even though there are lots of places for rent and for sale. The reduction in the supply a decade ago caused values to shoot up. As values shot up the sale prices shot up. A lot of property changed hands 10 to 8 years ago and quite a few folks took on ARMs. That problem is only just now starting to hit home. There are anywhere from 20% to as high as 30% of all homes in possible foreclosure right now. Nobody can make up their minds on how to determine an actual number since both methods are just guesses.
The same silly ARM system hit here the same time it hit the states and home values continued to climb. People bought and sold homes well over their real value. Now people have $300,000 to $450,000 mortgages on a rental property that is really only worth $200,000. The city is having a hay day taxing people on the assessed value (sale price) and not the actual value.
However, most folks in Anchorage still work their oil, government, or health care funded job and are not suffering too bad and are able to pay their high mortgages on their over valued homes.
So yes those rents are high to cover the cost of the mortgage.
Here is an interesting comparison for your review.
This place is listed for rent on C-list: 8650 Kushtaka
Go here and due a property search. It does not hold the searches or I could have provided a search result. You will need this link for when you start looking at homes to buy if you choose Anchorage for the long term.
It will be at the top of the table that shows up. Click on it and then click on the Comparable Sales button. This will show similar properties in the subdivision or neighborhood. This will provide you with an idea was to what places have sold for recently or what they sold for several years ago if still owned by the same person. This above property was bought by the current owner in 2002 and it looks like he might have paid too much for it, or at least he is looking at the last three years a steady decline in value. If he has one of those ARMs he is going to be asking for rent to cover the huge payment.
Now with this above property the rental price is much more than what I would assume the mortgage to be (unless the owner really messed up since its value is dropping like mad maybe). However, one reason this property could justify a hight rental price is the fact that it is at the end of the street and is a stones throw from the Ft Rich land and State Park. Moose, bears, coyotes, and other critters are going to be a short walk away. As will Blackhawks on night training.
There's some truth to your point with regards to places that aren't kept up well, but I own some rentals in Eagle River and never ever have to advertise them for more than a day or two before they're taken. I have one coming up at the end of the week, and I won't even bother to list it until the day before it is empty. A quality place goes that fast up here.
Originally Posted by mossyhorn
I don't doubt it that a nice place goes quick. From all the searches I've done, the nice one's have been few and very far between.
A few weeks ago, one of the local TV stations was reporting the Anchorage rental market was about 92% occupancy. I guess this may help explain the supply and demand theory.