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Real Estate Prices & Overview

Downtown median real estate price is $512,922, which is more expensive than 79.6% of the neighborhoods in Alaska and 66.9% of the neighborhoods in the U.S.

The average rental price in Downtown is currently $1,534, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 84.9% of Alaska neighborhoods.

Downtown is a suburban neighborhood (based on population density) located in Anchorage, Alaska.

Downtown real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Downtown neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Downtown. The current real estate vacancy rate here is 16.5%. This is higher than the rate of vacancies in 83.0% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Anchorage, the Downtown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Downtown neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 26.1% of its workforce, this neighborhood has a greater concentration of government workers than 99.7% of U.S. neighborhoods.

Furthermore, from major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Downtown neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 99.3% of all American neighborhoods.

Real Estate

The Downtown neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 96.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, one of the really unique and interesting things about the look and setting of the Downtown neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 73.7% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.7% of all neighborhoods in America.

Modes of Transportation

More people in Downtown choose to walk to work each day (26.3%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

People

Of particular note, 15.6% of the people in the Downtown neighborhood currently reside in a correction facility, held due to punishment for a crime.

In addition, the Downtown neighborhood has a greater percentage of children living in poverty (54.1%) than found in 95.5% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Diversity

Did you know that the Downtown neighborhood has more Native American and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.1% of this neighborhood's residents have Native American ancestry and 1.4% have Finnish ancestry.

Downtown is also pretty special linguistically. Significantly, 7.4% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 99.7% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Downtown neighborhood. In the Downtown neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Downtown neighborhood in Anchorage are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.9% of U.S. neighborhoods. With 54.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.5% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Downtown neighborhood, 48.0% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 34.5% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (26.1%), and 12.5% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown neighborhood is English, spoken by 82.1% of households. Other important languages spoken here include Spanish, Native American languages and Italian.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Downtown neighborhood in Anchorage, AK, residents most commonly identify their ethnicity or ancestry as Irish (18.4%). There are also a number of people of German ancestry (15.0%), and residents who report Native American roots (11.1%), and some of the residents are also of Italian ancestry (10.5%), along with some Sub-Saharan African ancestry residents (4.5%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown neighborhood spend under 15 minutes commuting one-way to work (47.0% of working residents), one of the shortest commutes across America.

Here most residents (65.3%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (26.3%) and 6.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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