Total monthly cost of ownership
Cost to Own a Home in Cordova, Alaska
A $385,000 home here costs
$3,001per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $128,500 a year.
A standard mortgage calculator would have told you $2,099. The real number is $902 higher every month, 43% more than the payment most buyers budget for.
Compare Chugach Census Area with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Cordova from a five-year rolling sample, and with about 2,405 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Chugach Census Area figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cordova against Chugach Census Area and Alaska
| Measure | Cordova | Chugach Census Area |
|---|---|---|
| Median home value | $384,500 | $330,900 |
| Median property tax | $2,883 | $3,033 |
| Effective tax rate | 0.750% | 0.917% |
| Median gross rent | $1,359 | $1,397 |
| Population | 2,405 | 6,964 |
The weather behind that power bill
Cordova sits in Chugach Census Area, which averages a high of 61.9°F in its hottest month and a low of 19.0°F in its coldest, with 86.18" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 1 cooling and 9,136 heating degree days, which is what sets the $170 electricity line above.
See the full climate breakdown for Chugach Census Area , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chugach Census Area
Full Chugach Census Area cost breakdown · Every county in Alaska
Talk to someone who works this market
These are Cordova averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Cordova every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cordova I already own here and may sell
Common questions
How much does it cost to own a home in Cordova?
A $385,000 home in Cordova, Alaska costs approximately $3,001 per month with 20% down at 7.24%. That is $2,099 principal and interest, $241 property tax, $103 homeowners insurance, $238 utilities and $321 set aside for maintenance.
What is the property tax rate in Cordova?
Cordova has an effective property tax rate of 0.750%, based on a median home value of $384,500 and median real estate taxes of $2,883. That is lower than the Chugach Census Area average of 0.917%.
What is the average home price in Cordova?
The median owner-occupied home value in Cordova, Alaska is $384,500, against $330,900 across Chugach Census Area.
Is it cheaper to rent or buy in Cordova?
Median gross rent in Cordova is $1,359 a month, against $3,001 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Cordova?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cordova, Alaska at today's rate takes a household income of roughly $128,500 a year. That covers the full $3,001 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cordova, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Alaska.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.