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Anchorage Alaska real estate question?

Why is real estate in Anchorage Alaska so expensive?? In surrounding cities, of anchorage, i can buy a single family home for just 150,000, but in Anchorage, that'll only get me a decent apartment to a crappy townhome. There is the obvious answer like " Anchorage is the biggest city and all those other cities are small in population", but i just would like to consider other options. Thanks!

Public Comments

1. Property in Alaska is booming all over. When you say surrounding cities, do you mean Wasilla and Palmer? Cause yes it is cheaper to buy there, and will have more equity in a few years, but you have a 45+ minute drive to Anchorage. Eagle River is the same as Anchorage when it comes to prices, and Girdwood is even worse. Alaska is one of the top places to see, and with Anchorage being the main city people land in to come to Alaska, it is in high demand for property. There is nothing you can really do in terms of getting a cheaper home in Anchorage, unless you want to live in a bad neighborhood.
2. Anchorage has built to it's borders. There really isn't much land that is available to build on. That is why it is so expensive. Also, until recently, everyone had to go to Anchorage or Fairbanks to work and shop. It's been the hub of activity for all the surrounding cities for years. All that's changing now. But the prices for housing and land aren't, it is still in high demand.