How to Buy a House in Alaska
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$395,096
Closing Costs
$15,523
3.93% of price
Property Tax Rate
0.91%
$3,680/yr median
Days on Market
62
Median
FHA Loan Limit
$472,030
Attorney Required
No
Foreclosure Type
Non-Judicial
Transfer Tax
None
None
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Key Facts About Buying in Alaska
- ✓No state income tax or sales tax
- ✓Higher home prices due to remote location and construction costs
- ✓Permanent Fund Dividend can help with savings
- ✓Longer days on market compared to lower 48
The Home Buying Process in Alaska
Buying a home in Alaska follows a 10-step process. Alaska does not require an attorney at closing, though you may choose to hire one.
1
Check Your Credit Score & Finances
2
Get Pre-Approved for a Mortgage
3
Find a Real Estate Agent
4
Search for Homes & Make an Offer
5
Get a Home Inspection
6
Secure Your Financing
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First-Time Buyer Programs in Alaska
AHFC First-Time Homebuyer Program
Below-market interest rates for first-time buyers
Reduced interest rates + closing cost assistanceIncome: Varies by area
Cost of Buying a Home in Alaska
| Down Payment (3.5% FHA) | $13,828 |
| Down Payment (20% Conventional) | $79,019 |
| Average Closing Costs | $15,523 |
| Transfer Tax | None |
| Annual Property Tax (est.) | $3,595/yr |
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Legal & Regulatory Details in Alaska
Homestead Exemption
Available
Up to $72,900
Licensing Authority
Alaska Real Estate Commission
Alaska Real Estate Law Overview
| Conveyance Document | Warranty deed |
| Security Instrument | Deed of trust; mortgages sometimes used |
| Foreclosure Process | Non-Judicial |
| Attorney Required at Closing | No |
| Deficiency Judgment | No |
| Redemption After Sale | No |
| Reinstatement Available | Yes |
| Seller Disclosures | Extensive disclosure form required covering structural problems, permit issues and climate-related hazards (freezing water lines, permafrost). Sellers must disclose anything that materially reduces value, including recent deaths on the property. |