The 6 Most Expensive Mountain Towns in Alaska

When it comes to the coldest place in the U.S., living can be pretty expensive. From higher inflation rates to some very expensive houses, here’s what you need to know about Alaska’s mountain towns.

6. Iliamna

Iliamna is a city in central Alaska best known for having the largest lake in the state, Lake Iliamna. The lake is not only the largest in Alaska, it’s also the second-largest in the U.S.

There aren’t many people who live in Iliamna, mainly because there’s such little housing. There are only 59 total housing units in Iliamna, with 31 of them occupied. With an average home value of $325,000, moving to this unique mountain town can be difficult for families. But the gorgeous views, small-town atmosphere, and natural beauty are all worth it.

5. Skagway

Skagway is a small town in southeastern Alaska located in the panhandle. There’s a port in Skagway that is typically very popular for cruise ships to visit. The town itself is pretty small, but the mountains surrounding it are enormous. If you’re looking for a fancy mountain town, Skagway is a great choice. It’s on the border of Canada and provides access to the seas and the mountains.

Whether it’s fall or spring, you’ll never run out of things to do in and around Skagway. One nice thing about this town is that it’s accessible by road, using the Klondike Highway you can reach the town from the U.S. and Canada. 

4. Northway

One small mountain town worth visiting in Alaska is Northway. It’s in central Alaska and takes up around 21 total square miles. The entire area of Northway is broken up into three parts. There’s the Northway Junction on the Alaska Highway, the town of Northway on the Nabesna Slough, and Norway Village, a Native Alaskan community about two miles south of the town.

One of the draws to Northway is Tetlin National Wildlife Refuge. It’s a 730,000-acre preserve with huge mountains, gorgeous rivers, and plenty of forest land. If you love the mountains and don’t mind paying a pretty penny, consider buying a home in Northway, where average home values sit around $332,500.

3. Sitka

Sitka is a city in southeastern Alaska with around 8,500 residents. It’s the 5th-most-populated city in the state and the largest city in the U.S. by total area. Sitka has a land area of 2,870.3 square miles and a total area of 4,811.4 which includes water territory. 

Like the rest of Alaska, Sitka once belonged to Russia. When it was a part of Russian America, Sitka was called New Archangel Town. It served as the site of the Alaska Purchase in 1867, when Russia accepted $7.2 million in exchange for the territory.

Today, Sitka is a bustling mountain city. The main part of the city is located in the valley between two large mountains. It’s a great place to buy a mountain home, but average home values are around $335,800, making it one of the more expensive mountain towns. 

2.  Cooper Landing

Cooper Landing is a small town on the north end of Kenai Lake. It’s just off the Sterling Highway, making it fairly easy to access for both visitors and residents. Cooper Landing has a median home value of $345,600. While that’s certainly steep, one reason is that there aren’t many homes in Cooper Landing.

The census-designated place has always been small, its population was first recorded at 60 on the 1950 census. As of 2020, the population was 344, however, many residents live in the same homes. Only 161 housing units are occupied year-round, with 236 vacant housing units that are used for ‘seasonal, recreational, or occasional use’. 

Though Cooper Landing is situated in the foothills of some beautiful mountains with miles of hiking trails, the area is most popular for its fishing. Every summer, tons of anglers flock to the Kenai River to try their hand at trout and salmon.

1. Elfin Cove

Elfin Cove is hands down the most expensive mountain town in Alaska. However, this small census-designated place is unique because it’s also an island. Elvin Cove is on Chichagof Island and takes up a total area of 10.4 square miles. You can hike the mountains, ride around the water, and soak in the views in this amazing place. 

Something worth noting about Elfin Cove is that you cannot drive to it. The island is only accessible via boat or seaplane, each of which comes and goes multiple times daily. The median home value in Elfin Cove is $481,300, easily making it the most expensive mountain town in the state.

Summary of Most Expensive Mountain Towns in Alaska

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