South Addition median real estate price is $701,990, which is more expensive than 85.9% of the neighborhoods in Alaska and 76.3% of the neighborhoods in the U.S.
The average rental price in South Addition is currently $2,342, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.6% of the neighborhoods in Alaska.
South Addition is a suburban neighborhood (based on population density) located in Anchorage, Alaska. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
South Addition 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the South Addition 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 South Addition. The current real estate vacancy rate here is 15.6%. This is higher than the rate of vacancies in 81.2% 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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Do you like a coastal setting? If so, this neighborhood may be to your liking. The South Addition neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, South Addition is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
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 South Addition neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 20.8% of its workforce, this neighborhood has a greater concentration of government workers than 99.2% of U.S. neighborhoods.
Furthermore, the South Addition neighborhood stands out nationally for having a greater proportion of its residents active in the military than 96.0% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The South Addition neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the South Addition neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 65.7% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 97.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.
More people in South Addition choose to walk to work each day (11.8%) 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.
The South Addition neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 91.5% of Alaska neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for active retirees and urban sophisticates.
Did you know that the South Addition neighborhood has more Welsh and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.4% of this neighborhood's residents have Welsh ancestry and 4.3% have British ancestry.
South Addition is also pretty special linguistically. Significantly, 0.7% 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 95.9% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the South Addition neighborhood in Anchorage are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 86.8% of the neighborhoods in America. In addition, 1.1% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 78.2% of America'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 South Addition neighborhood, 59.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 20.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.4%), and 12.7% in clerical, assistant, and tech support occupations.
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 South Addition neighborhood is English, spoken by 88.6% of households. Other important languages spoken here include Spanish and Polish.
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the South Addition neighborhood in Anchorage, AK, residents most commonly identify their ethnicity or ancestry as German (20.8%). There are also a number of people of Irish ancestry (17.7%), and residents who report English roots (8.7%), and some of the residents are also of Asian ancestry (5.8%), along with some Welsh ancestry residents (5.4%), among others.
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 South Addition neighborhood spend under 15 minutes commuting one-way to work (65.7% of working residents), one of the shortest commutes across America.
Here most residents (70.2%) 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 (11.8%) and 9.8% 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.