It’s getting harder for Alaskans to afford a place to live, whether that means buying a house or renting.
When adjusted for inflation, monthly mortgage rate payments around the state are the highest they’ve been in over three decades according to September’s Economic Trends Magazine. And the increase has been dramatic.
In 2024, the principal and interest payment on a typical 30-year fixed rate mortgage was roughly $2,300 per month, 75% higher than in 2021 according to the study.
Gunnar Schultz, an economist with the state and co-authored the report, said that much of an increase is unusual in a relatively short timeframe…