Alaska, often called the Great North, is the largest state in the Union by land area, much of it wilderness and undeveloped territory. For many who love to live in or on the edge of the natural world, Alaska is home. The state's economy is anchored by oil and gas production, but federal and military spending, commercial fishing and seafood, tourism, and mining all play major roles. Major population centers are located around Anchorage and Fairbanks, while much of the interior remains remote and sparsely settled. For those who want to live close to nature and away from suburbia, Alaska offers no shortage of striking locations and properties.
Despite its immense size, Alaska is one of the least populous states in the country. As of 2025, the Alaska Department of Labor and Workforce Development estimated the state's population at roughly 739,000 people, and about half of all Alaskans live in or around Anchorage. The state also has one of the smaller economies in the nation by total output, though its economy is unusually resource-dependent and its per-capita income tends to rank near the middle of the pack among states.
Here are two interesting facts about the state of Alaska: the United States purchased it from Russia in the 1860s for around two cents per acre, and the official state sport is dog mushing.
The Cities of Alaska
As noted above, roughly half of Alaska's population resides in or around Anchorage. Even so, several other communities are worth knowing.
Anchorage
Population: approximately 287,000
Anchorage is the state's largest city and its commercial hub, with an economy tied to oil and gas, transportation and logistics, healthcare, government, and its role as a major air-cargo gateway. It is often the first stop for visitors arriving in Alaska and remains the center of the state's population and economy.
Fairbanks
Population: approximately 32,000
Fairbanks, the largest city in Alaska's interior, is notable for a few reasons. It is home to the University of Alaska Fairbanks and sits near major military installations. It is also a popular destination for visitors, offering attractions such as the Northern Lights and winter ice sculpting.
Juneau
Population: approximately 32,000
Juneau is the capital of Alaska and one of the few U.S. state capitals not connected to the rest of the state by road, reachable only by boat or plane. Though modest in population, the city covers an enormous land area, and its economy leans heavily on government employment.
Wasilla
Population: roughly 11,000
Wasilla is located in the Matanuska-Susitna Borough north of Anchorage and anchors one of the fastest-growing parts of the state. Many residents of the surrounding Mat-Su area commute toward Anchorage for work.
College
Population: roughly 12,000
College is a community adjacent to Fairbanks, home to the University of Alaska Fairbanks campus, and is considered part of the greater Fairbanks area.
Banks and Credit Unions in Alaska
The following banks and credit unions are headquartered or based in Alaska:
- First National Bank Alaska
- Northrim Bank
- Denali State Bank
- Mt. McKinley Bank
- First Bank (Ketchikan)
- Global Credit Union (formerly Alaska USA Federal Credit Union)
- Credit Union 1
- Denali, a division of Nuvision Credit Union (formerly Denali Alaskan Federal Credit Union)
- Matanuska Valley Federal Credit Union
- Spirit of Alaska Federal Credit Union
- True North Federal Credit Union
- Tongass Federal Credit Union
- Northern Skies Federal Credit Union
- ALPS Federal Credit Union
National banks also operate in Alaska, including Wells Fargo and KeyBank. Whether you're looking for a local bank, a national bank, or a credit union, Alaska offers a range of options. Each financial institution has its own advantages and trade-offs, so finding the right fit will require shopping around.
Finding a Mortgage in Alaska
RateZip.com can help you compare mortgage options for buying a home in Alaska. As of 2025, the typical home value in the state was around $400,000 according to Zillow, with meaningful variation from region to region, so it pays to understand local market conditions before you start shopping. It also helps to understand the type of home loan that best fits your situation. Fixed-rate mortgages-whether 10, 15, 20, or 30 years in term-are among the most popular options. A fixed-rate loan offers payment stability, since your principal-and-interest payment stays the same over the life of the loan. An adjustable-rate mortgage (ARM) can offer a lower payment during an initial period, though the payment can change over time; ARMs may appeal to borrowers who don't plan to stay in the home long. Because much of Alaska is rural, many buyers may also qualify for USDA loans through the U.S. Department of Agriculture's Rural Development program. First-time buyers should also look into the Alaska Housing Finance Corporation (AHFC), which offers reduced-rate first-time homebuyer loan programs and down-payment assistance through approved lenders. Compare current rates and programs to find the option that works best for you.