Total monthly cost of ownership
Cost to Own a Home in Sterling, Alaska
A $346,000 home here costs
$2,680per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,779. The real number is $901 higher every month — 51% 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.
Sterling against Kenai Peninsula Borough and Alaska
| Measure | Sterling | Kenai Peninsula Borough |
|---|---|---|
| Median home value | $346,100 | $297,500 |
| Median property tax | $2,378 | $1,974 |
| Effective tax rate | 0.687% | 0.664% |
| Median gross rent | $1,095 | $1,163 |
| Population | 6,776 | 59,843 |
The weather behind that power bill
Sterling sits in Kenai Peninsula Borough, which averages a high of 63.3°F in its hottest month and a low of 7.4°F in its coldest, with 18.27" of precipitation a year and 48% of it in a single three-month stretch. That climate drives 1 cooling and 10,693 heating degree days, which is what sets the $254 electricity line above.
See the full climate breakdown for Kenai Peninsula Borough — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kenai Peninsula Borough
Full Kenai Peninsula Borough cost breakdown · Every county in Alaska
Common questions
How much does it cost to own a home in Sterling?
A $346,000 home in Sterling, Alaska costs approximately $2,680 per month with 20% down at 6.66%. That is $1,779 principal and interest, $198 property tax, $93 homeowners insurance, $322 utilities and $288 set aside for maintenance.
What is the property tax rate in Sterling?
Sterling has an effective property tax rate of 0.687%, based on a median home value of $346,100 and median real estate taxes of $2,378. That is higher than the Kenai Peninsula Borough average of 0.664%.
What is the average home price in Sterling?
The median owner-occupied home value in Sterling, Alaska is $346,100, against $297,500 across Kenai Peninsula Borough.
Is it cheaper to rent or buy in Sterling?
Median gross rent in Sterling is $1,095 a month, against $2,680 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 Sterling — 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.