Alaska Homes under $500,000

**Discover the Allure of Alaska: Affordable Homes Under $500,000**

Nestled in the breathtaking embrace of nature, Alaska is a land of stunning landscapes, vibrant wildlife, and a unique lifestyle that beckons adventurers and dreamers alike. Known as the "Last Frontier," this magnificent state offers an unparalleled blend of rugged beauty and modern living, making it a sought-after destination for homebuyers looking for more than just a house – but a way of life.

For those seeking affordable housing options, Alaska has a treasure trove of homes priced under $500,000. Whether you’re drawn to the charming towns of the Kenai Peninsula, the bustling energy of Anchorage, or the serene surroundings of Fairbanks, you’ll find a variety of properties that cater to diverse tastes and lifestyles. From cozy cabins with stunning mountain views to contemporary homes nestled in welcoming neighborhoods, there’s something for everyone in this vast and beautiful state.

Imagine waking up to the sound of nature, with the majestic backdrop of the Alaska Range or the tranquil waters of the Pacific at your doorstep. With homes available at such accessible prices, you can embrace outdoor adventures, explore the rich cultural tapestry, and enjoy the warmth of Alaska’s tight-knit communities without breaking the bank.

Alaska’s real estate market is not just about finding a house; it’s about investing in a lifestyle filled with exploration, adventure, and the breathtaking beauty of the great outdoors. Come and explore the possibilities that await you in this extraordinary state – your dream home in Alaska is just a heartbeat away!

Newest Alaska Homes under $500,000

$425,000

3 Beds ⋅ 3 Baths ⋅ 26-13505 MLS

Unique tri-level home with a huge oversized 3 car garage. This is a 3 bedroom, 3 full bathroom home, with large deck and fully fenced yard. Modern kitchen with new LVP throughout. Property has lots of trees for additional privacy. Yard is full of raspberries, peonies and other perennials come Spring.

14067 W Hollywood Road, Big Lake

Listing Office Signature Real Estate Alaska

$250,000

3 Beds ⋅ 1 Baths ⋅ 26-13468 MLS

Value is in the lot. Lots of new construction in the area.

3803 Greenland Drive, Anchorage

Listing Office Great Land

$210,000

1 Beds ⋅ 1 Baths ⋅ 26-13466 MLS

What's not to love with this condo?? Low dues & it's located between the trees & trail system. Steps from the paved Chester Creek Trail, wooded APU trails and University Lake. Gorgeous unit with updated LVP flooring, huge bedrm & a private washer/dryer. Detached 1 car private gar and plenty of guest parking. Large shared common deck. HOA has garden plots and RV/storage as well. A MUST SEE!!

4842 Mills Drive Unit #76, Anchorage

Listing Office Coldwell Banker Endeavor Realty

$235,000

2 Beds ⋅ 2 Baths ⋅ 26-13462 MLS

This inviting residence offers a stylish blend of comfort and convenience, featuring thoughtful updates throughout and a functional floor plan designed for easy living. The spacious living area is filled with natural light and opens to a private balcony, creating the perfect space to relax or entertain. The updated kitchen offers ample cabinet and counter space, while the adjoining dining area s everyday meals and gatherings effortless. The generous primary bedroom provides a peaceful retreat, complemented by a convenient half bath. A second bedroom offers flexibility for guests, a home office, or hobby space. Updated finishes and modern touches throughout give the home a fresh, move-in-ready feel. Located in the Cordova Square complex, residents enjoy locked building access, elevator, dedicated garage parking space, roof top decks and the convenience of being just minutes from downtown restaurants, shopping, parks and trails.

310 E 11th Avenue Unit #313, Anchorage

Listing Office Herrington and Company, LLC

$399,000

3 Beds ⋅ 2 Baths ⋅ 26-13460 MLS

Location, location, location! Situated on a desirable corner lot in the heart of Wasilla, this well-maintained ranch-style home offers the perfect combination of convenience, privacy, and extensive recent upgrades! Just minutes from shopping, dining, schools, and everyday amenities, you'll love having everything Wasilla has to offer right at your fingertips while enjoying a wooded private location Numerous improvements have been completed within the last few years, including a new roof, Andersen windows/doors, upgraded garage door, updated flooring, interior paint, and a beautifully remodeled kitchen featuring updated cabinetry, countertops, and stainless steel appliances. The attached garage also features a recent epoxy-coated floor for a clean, finished look. Outside, enjoy a paved driveway, mature trees, and plenty of yard space. With so many major updates already completed and an unbeatable central Wasilla location, this property is one you won't want to miss!

1165 W Winter Avenue, Wasilla

Listing Office Signature Real Estate Alaska

$159,900

1 Beds ⋅ 1 Baths ⋅ 26-13459 MLS

Check out this 1 bed, 1 bath condo located at Cordova Square. All ready for the new owner to put their own style into this condo! Stacked washer and dryer in the condo. Large closets along with main bldg storage closet. Elevator, secure entrance. Dedicated parking space in the parking lot. Rooftop deck with seating area and grill! Watch the Rondy sled dogs & New Year's fireworks from the rooftop!

310 E 11th Avenue Unit #119, Anchorage

Listing Office Herrington and Company, LLC

$395,000

3 Beds ⋅ 2 Baths ⋅ 26-13458 MLS

Beautiful Private Lot and Extensively Remodeled Home! Brand New Roof, New Kitchen Cabinets/Countertops, Appliances, Flooring/Carpet, Bathroom Updates and More! Just Under an Acre of Land with Tons of Privacy and Lots of Parking. Floor Plan Features 2 Bedrooms Upstairs, and 1 Bedroom Down. 2 Family Rooms; 1 on each level! Oversized Garage approx 384 SF.

7420 E Eden Circle, Wasilla

Listing Office RE/MAX Dynamic Properties

$475,000

3 Beds ⋅ 3 Baths ⋅ 26-13454 MLS

Incredible opportunity to own a slice of Alaska on a private lot with world class views. Perfectly perched on the bluff with great sun exposure and easy access to town. This home is set up for multi generational living or rental income. The top two floors offers 3 bedrooms, 2 full baths and open kitchen/living/dining room. Downstairs has a full apartment ready to use how you want. Detached garage is oversized and perfect for parking cars and still having room for projects. The apartment has a private bath, bedroom and plenty of room for storage. If you're looking for incredible property with tons of opportunity this is it! The home has natural gas run to the property so no need to worry about having fuel brought in. Don't miss out on this opportunity to own a piece of paradise.

66285 Bluff Drive, Ninilchik

Listing Office Jack White Real Estate

$260,000

3 Beds ⋅ 2 Baths ⋅ 26-13453 MLS

Big views, big potential, and a project worth imagining! Kachemak Bay, glaciers, and surrounding mountains set the stage for this 3-bedroom, 2-bath home with a garage and separate studio cabin. Roll up your sleeves and get ready to put some elbow grease into something worthy of the effort! This opportunity is being sold AS-IS, WHERE-IS, including vehicles and personal property. Buyer to verify.

51442 Mossberry Avenue, Homer

Listing Office Kachemak Real Estate Group Real Broker

$435,000

4 Beds ⋅ 3 Baths ⋅ 26-13452 MLS

Rare opportunity in Talkeetna! Properties like this don't come on the market often! Situated on 5 acres with NO covenants, conditions, or restrictions, this versatile duplex offers endless possibilities in a prime location near Mile 4 of Talkeetna Spur Road, just behind Sunshine Community Health Center. Designed to function as two independent units, each with everything a family needs, this property also has the flexibility to serve as one larger home. An internal stairwell connects the two levels, allowing the spaces to easily function together - just leave the door unlocked! The daylight walk-out basement features a 2-bedroom, 1-bathroom apartment with its own kitchen and living area. The main and upper levels offer an additional 2 bedrooms, 2 bathrooms, kitchen, living room, bonus room, and attached garage. Additional basement storage adds on functionality. A small barn and woodshed outside provide even more storage space. The mostly level, beautifully forested 5-acre lot offers plenty of room for future projects and features a convenient circular driveway. A large deck is perfect for outdoor BBQs, entertaining, or enjoying those warm summer days. With no restrictions, the property offers potential for a business, additional rental cabins, or short-term vacation rentals, etc. Tucked away in a quiet neighborhood on a year-round maintained road, yet conveniently located just 4 miles from amenities at the Y and 10 miles from downtown Talkeetna. All utilities are in place. A rare combination of acreage, flexibility, income potential, and location. Whether you're looking for a home, an investment, or both, this property offers an exceptional opportunity to make your vision a reality!

34417 S Walsted Lane, Talkeetna

Listing Office McKinley View Real Estate LLC

Mile 139.5 Glenn Highway Tract 5, Nelchin Estates, Glennallen

$220,000

1 Beds ⋅ 26-13441 MLS

Classic Alaska cabin, ~995sqft on 4.88-acre lot at Mile 139.5 Glenn Hwy, Glennallen w/ ~365 ft highway frontage. Open main room w/ sleeping loft, wood stove + Toyo stove, & metal roof. Power run to home. Creek water source with a pump and a new 1,200-gal tank. Built in 1995 on concrete pads. NO property taxes! Tall spruce & birch surround the clearing. Garden area w/ apple & cherry trees, black currants, and raspberries along the trail. Typical Alaska wildlife - moose, spruce hens, martens, owls, eagles & other birds. Small creek at the back of the lot; a pump sends water up the hill to the tank (water room built in 2026). Delivered water is common in the area. State-maintained Glenn Hwy frontage, driveway extended to the cabin in 2025. Storage shed & Wood shed. Heat: wood stove + Toyo stove (2025). Gas range/oven, fridge & microwave. Starlink internet in use. Seller-reported utilities ~$3-400/month all-in (electric ~$100, oil ~$150, Starlink ~$85); worst winter month $400 at 47 below. Roof maintained annually. Homemade hot tub, sauna & 9,600W generator included. No septic, outhouse. Surveyed lot w/ marked corners (metal spikes, easy to follow w/ a metal detector). Outside the Mat-Su Borough = NO property taxes. True Alaska cabin living.

Mile 139.5 Glenn Highway Tract 5, Nelchin Estates, Glennallen

Listing Office RMG Real Estate

9309 Jewel Lake Road Unit 203, Anchorage

$268,000

2 Beds ⋅ 2 Baths ⋅ 26-13439 MLS

Perched on the top floor at Dimond Place Condominiums, 9309 Jewel Lake Road, Unit 203 has been cared for and thoughtfully updated through the years, and it shows the moment you walk in. Vaulted ceilings open the space up and fill it with an airy, spacious feel, and with no neighbors overhead, mornings are quiet and the home feels calm and settled. Plush carpet adds warmth underfoot, and stainless steel appliances give the kitchen a clean, modern finish. The tile surround fireplace anchors the living area and sets the scene for cozy Alaska evenings, whether its a snowy night in or a slow weekend morning with coffee. Alaska winters are easier here, too. Underground parking means no scraping windshields on frigid mornings, with additional exterior parking available. A personal storage "shed" in the garage keeps seasonal gear, tools, and totes neatly out of your living space. The location makes everyday life simple. Groceries are just minutes away for quick weeknight hauls, Campbell Lake is nearby for an evening stroll, and the airport is a quick uber ride, ideal for travel days. Comfortable, convenient, and well kept, this is a home that lets you settle in and enjoy Anchorage. Schedule your showing today! Features you'll love: - Hot Water Heater (2023) - Replaced all interior switch plates and outlet plates - Plenty of interior storage - Stainless steel oven with stainless steel hood vent - Primary Bedroom has plenty of open floor space for easy movement - Secondary Bedroom has vaulted tongue and groove ceiling - Primary en-suite and secondary bathroom feature tiled showers

9309 Jewel Lake Road Unit 203, Anchorage

Listing Office Tanner Group Premier Real Estate

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The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than Fiorelli Real Estate are marked with either the listing brokerage’s logo or the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Listing last updated:

Alaska Homes under $500,000

Newest Alaska Homes under $500,000

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