Anchorage dominates the list of Alaska’s most valuable residential areas, with Huffman‑O’Malley (ZIP 99516) consistently ranked as the state’s most expensive neighborhood. Nestled in Southeast Anchorage, this upscale enclave is where Alaska’s wealth converges, offering breathtaking views, sprawling lots, and premium amenities. Let’s dive into why this neighborhood holds the top spot and what living here truly entails.
Prime Location with Scenic Views and Prestige
Huffman‑O’Malley boasts a hillside perch overlooking Cook Inlet and the Chugach Mountains. As Anchorage’s southeastern residential crown, this area attracts affluent buyers seeking both nature’s grandeur and urban convenience. With limited buildable land and panoramic vistas, property in this ZIP code remains perpetually scarce and highly coveted.
Luxury Homes and High Price Tags
Anchorage commands six of Alaska’s most valued ZIPs, with Huffman‑O’Malley at the pinnacle . Average home values here often exceed $500,000—much higher than Alaska’s overall median. The recently listed $15 million Anchorage mansion exemplifies the upper echelon: a 17,000 sq ft estate complete with an airplane hangar, private airstrip, indoor basketball court, and swimming pool. While this ultra-luxury offer stands alone, it underscores the neighborhood’s capacity for high-end living.
Neighborhood Character and Exclusivity
With about 10,000 residents, Huffman‑O’Malley blends suburban tranquility with selective exclusivity. Public services rival those of the urban core, but with a distinctly private feel. Large lots, mature trees, and proximity to hiking trails give residents a sense of space and escape—even within city limits.
Cost of Living Considerations
Alaska is known for higher living costs compared to the national average; Anchorage tends to run about 26–38% above the U.S. norm . Housing is a major driver of that, with Huffman‑O’Malley exemplifying the region’s premium real estate sector. Residents here understand that exclusivity comes at a cost—but gain with privacy, prestige, and panoramic sunsets.
Beyond the House: Lifestyle Benefits
Huffman‑O’Malley offers more than just impressive homes—it’s a lifestyle. Outdoor enthusiasts enjoy seamless access to trails, while aviation aficionados can appreciate proximity to private airstrips (as seen in ultra‑luxury estates). The neighborhood fosters a community of professionals, executives, and outdoor lovers who value space, views, and Alaska’s adventurous spirit.
Compare: Other Anchorage Enclaves
| Neighborhood | Cost Index Above City Avg. |
|---|---|
| Huffman‑O’Malley | ~15% higher |
| Bear Valley | ~18% higher |
| Hillside East | ~44% higher |
| Basher | ~44% higher |
| South Fork | ~20% higher |
Huffman‑O’Malley consistently ranks near the top for overall cost, but Hillside East and Basher sometimes edge ahead in index rankings—driven by different factors like slope and exclusivity.
Challenges & Considerations
Living in Huffman‑O’Malley comes with trade‑offs:
- Seasonal conditions: Winters bring snow and icy roads; steep driveways may require extra care.
- Limited development: New construction is rare, preserving character but also limiting fresh inventory.
- Access vs seclusion: While close to downtown and schools, the hillside terrain lends a cocooned feel that appeals to some and deters others.
Future Outlook
Alaska’s luxury housing market remains steady. Although only about six Anchorage ZIPs break into the state’s top 30 housing markets, demand in places like Huffman‑O’Malley remains solid. The ultra‑luxury segment may grow, but most turnover is steady, mid‑million‑dollar homes. As Alaska diversifies economically, prime residential enclaves will retain their allure—and their price
Living the Huffman‑O’Malley Dream
For those who can afford it, Huffman‑O’Malley presents:
- Prime vistas of water and mountains
- Generous lot sizes for privacy
- Top-tier homes featuring modern amenities
- A tight-knit community elevated by affluence and outdoor culture
If you’re drawn to Alaska’s rugged beauty yet want upscale comfort, Huffman‑O’Malley offers both—at a price.
Final Thoughts
Huffman‑O’Malley’s reputation as Alaska’s priciest ZIP code reflects more than just high real‑estate values—it embodies lifestyle, location, and luxury. From hillside retreats to multi‑million‑dollar manors with private airstrips, this neighborhood defines high-end living in The Last Frontier. And with its exclusive mix of nature, community, and prestige, it’s easy to see why.
Whether you’re exploring real‑estate options or just curious about Alaska’s upper crust, Huffman‑O’Malley offers a glimpse into a world where stunning panoramas meet unparalleled privacy—and where Alaska’s wealthiest call home.