Total monthly cost of ownership
Cost to Own a Home in Kodiak, Alaska
A $315,000 home here costs
$2,532per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,619. The real number is $913 higher every month — 56% more than the payment most buyers budget for.
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 $254 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
Common questions
How much does it cost to own a home in Kodiak?
A $315,000 home in Kodiak, Alaska costs approximately $2,532 per month with 20% down at 6.66%. That is $1,619 principal and interest, $244 property tax, $84 homeowners insurance, $322 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 $2,532 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.