Total monthly cost of ownership
Cost to Own a Home in Kodiak, Alaska
A $315,000 home here costs
$2,547per 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 $109,000 a year.
A standard mortgage calculator would have told you $1,717. The real number is $829 higher every month, 48% more than the payment most buyers budget for.
Compare Kodiak Island Borough with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Kodiak against Kodiak Island Borough and Alaska
| Measure | Kodiak | Kodiak Island Borough |
|---|---|---|
| Median home value | $314,800 | $382,700 |
| Median property tax | $2,930 | $3,509 |
| Effective tax rate | 0.931% | 0.917% |
| Median gross rent | $1,430 | $1,669 |
| Population | 5,497 | 12,878 |
The weather behind that power bill
Kodiak sits in Kodiak Island Borough, which averages a high of 64.6°F in its hottest month and a low of 9.8°F in its coldest, with 21.44" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 3 cooling and 10,385 heating degree days, which is what sets the $170 electricity line above.
See the full climate breakdown for Kodiak Island Borough , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kodiak Island Borough
Full Kodiak Island Borough cost breakdown · Every county in Alaska
Talk to someone who works this market
These are Kodiak 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 Kodiak every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Kodiak I already own here and may sell
Common questions
How much does it cost to own a home in Kodiak?
A $315,000 home in Kodiak, Alaska costs approximately $2,547 per month with 20% down at 7.24%. That is $1,717 principal and interest, $244 property tax, $84 homeowners insurance, $238 utilities and $263 set aside for maintenance.
What is the property tax rate in Kodiak?
Kodiak has an effective property tax rate of 0.931%, based on a median home value of $314,800 and median real estate taxes of $2,930. That is higher than the Kodiak Island Borough average of 0.917%.
What is the average home price in Kodiak?
The median owner-occupied home value in Kodiak, Alaska is $314,800, against $382,700 across Kodiak Island Borough.
Is it cheaper to rent or buy in Kodiak?
Median gross rent in Kodiak is $1,430 a month, against $2,547 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 Kodiak?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Kodiak, Alaska at today's rate takes a household income of roughly $109,000 a year. That covers the full $2,547 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Kodiak, 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.