Total monthly cost of ownership
Cost to Own a Home in Craig, Alaska
A $244,000 home here costs
$1,929per 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 $82,500 a year.
A standard mortgage calculator would have told you $1,330. The real number is $599 higher every month, 45% more than the payment most buyers budget for.
Compare Prince of Wales-Hyder Census Area with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Craig from a five-year rolling sample, and with about 1,063 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 Prince of Wales-Hyder 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.
Craig against Prince of Wales-Hyder Census Area and Alaska
| Measure | Craig | Prince of Wales-Hyder Census Area |
|---|---|---|
| Median home value | $244,400 | $221,800 |
| Median property tax | $1,108 | $1,043 |
| Effective tax rate | 0.453% | 0.470% |
| Median gross rent | $1,142 | $915 |
| Population | 1,063 | 5,730 |
The weather behind that power bill
Craig sits in Prince of Wales-Hyder Census Area, which averages a high of 64.3°F in its hottest month and a low of 30.4°F in its coldest, with 89.2" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 6 cooling and 7,216 heating degree days, which is what sets the $170 electricity line above.
See the full climate breakdown for Prince of Wales-Hyder Census Area , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Prince of Wales-Hyder Census Area
Full Prince of Wales-Hyder Census Area cost breakdown · Every county in Alaska
Talk to someone who works this market
These are Craig 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 Craig every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Craig?
A $244,000 home in Craig, Alaska costs approximately $1,929 per month with 20% down at 7.24%. That is $1,330 principal and interest, $92 property tax, $65 homeowners insurance, $238 utilities and $203 set aside for maintenance.
What is the property tax rate in Craig?
Craig has an effective property tax rate of 0.453%, based on a median home value of $244,400 and median real estate taxes of $1,108. That is lower than the Prince of Wales-Hyder Census Area average of 0.470%.
What is the average home price in Craig?
The median owner-occupied home value in Craig, Alaska is $244,400, against $221,800 across Prince of Wales-Hyder Census Area.
Is it cheaper to rent or buy in Craig?
Median gross rent in Craig is $1,142 a month, against $1,929 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 Craig?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Craig, Alaska at today's rate takes a household income of roughly $82,500 a year. That covers the full $1,929 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Craig, 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.