• Forecast
  • News Tip
  • Categories
News Alert: Debris from missing plane discovered on Lake Clark - Read More
Temperature Precipitation
Estimated read time
1m 20s

Anchorage housing gridlock driving up rental costs

By KTVA Alaska 7:40 PM June 6, 2014
ANCHORAGE –

The Anchorage housing market is in gridlock, according to city leaders.

They gathered Friday to address the current gridlock, in which the demand for housing has been outpacing production. That according to housing experts is driving rental rates sky high.

Of the 25 most common jobs in Anchorage, only 7 pay enough for someone to afford area housing, according to studies done by the United Way of Anchorage.

“Right now, a household has to have 2.8 minimum wage jobs to be able to afford a one-bedroom apartment,” United Way of Anchorage president Michele Brown said.”That’s not sustainable.”

The federal government says tenants should pay no more than 30 percent of their monthly income on housing. Any more and you’re considered financially unstable.

Due to Anchorage’s housing gridlock almost half of the population spends 50 percent of their income on housing, according to the United Way.

At that rate, the non-profit is concerned a single missed paycheck – due to illness or the loss of a job – could be the difference between keeping or losing housing.

Right now, Brown says Anchorage is at 3 percent vacancy, an improvement over the one or two percent vacancy of recent years. But it’s still lower than the suggested 5 percent vacancy rate.

“There is just so little vacancy that it just keeps driving the price up, and as the production rate has gone down that price keeps going higher and higher,” Brown said.

The United Way hopes to have 18,000 new housing units built by 2030. Brown says they plan to continue working with the Anchorage Assembly and other local agencies to make those plans a reality.

 

Latest Stories

  • News

    Feds expand areas where ballots will be in native languages

    by Associated Press on Dec 09, 8:50

    More people who speak Alaska Native languages will be able to receive translated election material thanks to changes made by the U.S. Census Bureau. KTOO-FM reports that the Census Bureau announced on Monday that it has expanded the number of areas and languages eligible for election material translation. The Census Bureau designates languages for translation […]

  • News

    2 injured in head-on Seward Highway crash

    by Associated Press on Dec 09, 8:41

    Two people were injured in a head-on crash on the Seward Highway six miles north of the junction with the Sterling Highway. Alaska State Troopers say 56-year-old Virginia Ingram of Anchorage was flown by LifeMed helicopter to an Anchorage hospital after the crash at about 7 p.m. Wednesday. A Wasilla man, 66-year-old Ted Peter, was […]

  • Buyer Beware: Holiday gift exchange scams to watch out for on Facebook

    by CBS News on Dec 09, 8:03

    ‘Tis the season … to get scammed on Facebook. Two scams called the “Secret Sister Gift Exchange” and the “Secret Wine Bottle Exchange” are spreading across Facebook like wildfire, and unfortunately, users are falling for it. It sounds like a fun Secret Santa-like gift exchange, but it’s actually a pyramid scheme in disguise. And worse, […]

  • Government proposes letting airline passengers make phone calls

    by Associated Press on Dec 08, 20:16

    WASHINGTON (AP) – The government is proposing that airlines be allowed to permit their passengers to make phone calls during flights using Wi-Fi despite complaints from flight attendants and others that the calls could be disruptive. The Department of Transportation’s proposal leaves it up to airlines whether to allow the calls. But carriers would be […]

  • Lifestyle

    A grim tally soars: More than 50,000 overdose deaths in US

    by Associated Press on Dec 08, 20:08

    NEW YORK (AP) – Health officials say more than 50,000 Americans died from drug overdoses last year, the most ever. The disastrous tally has been pushed to new heights by soaring abuse of heroin and prescription painkillers, a class of drugs known as opioids. The new numbers were part of the annual tally of deaths […]

  • Lifestyle

    Winter waterfowl: Biologists monitor mallards that don’t migrate

    by Heather Hintze on Dec 08, 20:01

    Every winter the Alaska Department of Fish and Game gets calls from people concerned about ducks that haven’t flown south for the winter. Waterfowl biologist Mike Petrula said there are about 1,500 mallards that make Anchorage their year-round home and they seem to be thriving. “Mallards are a very tough duck. They’re a big-bodied bird. […]

  • News

    Vigil planned for murdered Palmer teen

    by Lauren Maxwell on Dec 08, 18:54

    Organizers are expecting a big turnout Friday for a Candlelight Vigil of Hope and Prayer for David Grunwald event. Grunwald is the Palmer teen who was missing for weeks before his body was discovered in the Knik River Road area. Another 16-year-old has been charged with murder and kidnapping in connection to the slaying. Gina Spangler is […]

  • Conservation council looking for fish tales for new almanac

    by Daybreak Staff on Dec 08, 18:08

      Have any good personal or commercial fishing stories, anecdotes, pictures or art? The Alaska Marine Conservation Council is “calling all writers, artists, know-hows and know-nots” for a new Young Fisherman’s Almanac. The almanac, due out next year, is being put together to connect young fishermen and women. Most commercial fishing permit holders are over the […]