New mortgage payments in Juneau up 74% since 2019, now second-highest in Alaska, report finds

Number of new mortgages in Juneau drops 26% during that period, according to state study, which declares similar patterns are occurring nationwide

Homes on Douglas Island on July 17, 2026. (Mark Sabbatini / Juneau Independent)

By Mark Sabbatini

Juneau Independent

Juneau’s average monthly payment for a new mortgage of $2,388.98 last year is 74% more than the $1,373.09 payments local homeowners were making in 2019, according to a new state report.

Those mortgage payments are the second-highest in the state, topped only by Sitka at $2,783.04, the September 2026 issue of Alaska Economic Trends reports. The statewide average payment is $2,044.

There has also been a 22% drop in the number of new mortgages in Juneau during the time period, with 76 last year compared to 98 in 2019, the article notes.

Those trends are occurring statewide and nationally, according to the article.

"Since 2023, the cost of a new mortgage for a typical home has remained drastically higher than before and early in the pandemic, and borrowing has remained below pre-pandemic levels," the article notes.

The Matanuska-Susitna Borough, the fastest-growing area of the state, saw the highest increase in mortgage payments at 102%. Bethel was lowest at 69%.

The article also notes residential rent rates rose 2.8% in Juneau compared to a year ago and the city’s vacancy rate of 4% has held steady for the past five years. The average price for a two-bedroom rental in Juneau is listed at $1,708, ranking fifth among 11 communities with Bethel highest at $2,030 and the Wrangell-Petersburg area lowest at $1,288.

Housing costs and shortages have been ongoing issues for years in Juneau, with some local leaders stating the types of residential units available doesn’t match the city’s shifting demographics that include an aging population, more single-person households and fewer children.

New home construction statewide hit 10-year high last year, according to the Alaska Economic Trends report. Juneau gained 36 more single-family homes and 121 residential units in multi-family structures. That nearly 4-1 ratio of new multi-family to single-family units was by far the highest in the state.

The report notes Juneau’s 121 multi-family units are the most since 2020 and the fourth-highest since at least 2005.

• Contact Mark Sabbatini at editor@juneauindependent.com or (907) 957-2306.