Alaska’s housing landscape is undergoing a “silver wave” as the baby boomer generation (born 1946–1964) enters retirement. Between 2018 and 2023, baby boomers in the Last Frontier faced major decisions about where and how to live. This period saw shifting migration patterns (urban vs. rural living), evolving housing preferences (aging in place or downsizing), and strong motivations driven by cost-of-living, amenities, and lifestyle needs. Backed by government data, real estate studies, and first-hand accounts, we explore how Alaska’s boomers are navigating the housing market – and what it means for different regions across the state.
Demographic Shifts and Migration Patterns
Alaska’s senior population has grown dramatically as boomers age into their 60s and 70s. In 2010, just as the oldest boomers were hitting retirement age, about 55,000 Alaskans were 65 or older. By 2020 that number jumped to 95,000 (about 13% of the state’s population), and by 2024 it reached roughly 115,000 seniors (16%). This 73% surge in Alaska’s 65+ population during the 2010s came despite overall population stagnation and out-migration. In fact, Alaska led the nation in senior growth for much of the 2000s and 2010s, though it has since slowed as other states catch up.
One reason Alaska’s senior boom has tempered is a recent uptick in boomer out-migration. State demographers observed that around 2016–2020, more baby boomers began leaving Alaska than moving in, contributing to four straight years of net population decline. “It seems like the baby boomer generation is migrating out of the state a little faster,” said David Howell, Alaska’s state demographer, in 2021. Many boomers who moved to Alaska in the 1970s and 1980s (during pipeline construction and other booms) are now relocating in retirement. The total number of Alaskans in the boomer age bracket fell from ~186,000 in 2010 to just over 150,000 by 2020.
Regional shifts illustrate where boomers are choosing to live out their later years. Broadly, Alaska’s urban hubs (like Anchorage and Fairbanks) have seen slower senior growth, while some smaller communities attract retirees. In 2024, seniors made up about 15% of Anchorage’s population and 14% in Fairbanks, roughly on par with the state average…