South Addition median real estate price is $727,035, which is more expensive than 92.5% of the neighborhoods in Alaska and 80.1% of the neighborhoods in the U.S.
The average rental price in South Addition is currently $2,263, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.7% 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 16.4%. This is higher than the rate of vacancies in 80.8% 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.
South Addition is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. 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 15.9% of its workforce, this neighborhood has a greater concentration of government workers than 97.6% of U.S. neighborhoods.
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the South Addition neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 64.2% 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 97.3% of U.S. neighborhoods. Less time commuting means more time for other things in life.
If you are planning to retire in Alaska, this neighborhood should be on your must-see list. For many reasons, South Addition may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Alaska, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 97.2% of neighborhoods in AK. If a Alaska retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the South Addition neighborhood is a fantastic option for bicycle commuters, as 2.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.6% of the neighborhoods in America.
Did you know that the South Addition neighborhood has more British and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have British ancestry and 2.5% have Welsh 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 88.5% of the neighborhoods in America. In addition, 3.6% 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 69.5% 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, 57.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 17.0% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (15.9%), and 14.6% 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 87.8% 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 (19.6%), and residents who report English roots (8.3%), and some of the residents are also of Asian ancestry (5.9%), along with some Italian ancestry residents (5.1%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in South Addition neighborhood spend under 15 minutes commuting one-way to work (64.2% of working residents), one of the shortest commutes across America.
Here most residents (71.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (10.0%) and 6.9% of residents also hop out the door and walk to work 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.