Total monthly cost of ownership
Cost to Own a Home in Tok, Alaska
A $224,000 home here costs
$1,839per 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 $79,000 a year.
A standard mortgage calculator would have told you $1,221. The real number is $617 higher every month, 51% more than the payment most buyers budget for.
Compare Southeast Fairbanks Census Area with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Tok from a five-year rolling sample, and with about 1,490 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 Southeast Fairbanks 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.
Tok against Southeast Fairbanks Census Area and Alaska
| Measure | Tok | Southeast Fairbanks Census Area |
|---|---|---|
| Median home value | $223,700 | $262,800 |
| Median property tax | — | $1,871 |
| Effective tax rate | 0.712% | 0.712% |
| Median gross rent | $648 | $1,304 |
| Population | 1,490 | 6,936 |
The weather behind that power bill
Tok sits in Southeast Fairbanks Census Area, which averages a high of 71.5°F in its hottest month and a low of -22.1°F in its coldest, with 11.27" of precipitation a year and 62% of it in a single three-month stretch. That climate drives 19 cooling and 14,679 heating degree days, which is what sets the $170 electricity line above.
See the full climate breakdown for Southeast Fairbanks Census Area , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Southeast Fairbanks Census Area
Full Southeast Fairbanks Census Area cost breakdown · Every county in Alaska
Talk to someone who works this market
These are Tok 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 Tok 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 Tok?
A $224,000 home in Tok, Alaska costs approximately $1,839 per month with 20% down at 7.24%. That is $1,221 principal and interest, $133 property tax, $60 homeowners insurance, $238 utilities and $187 set aside for maintenance.
What is the property tax rate in Tok?
Place-level tax data is not published for Tok, so the Southeast Fairbanks Census Area rate of 0.712% applies here.
What is the average home price in Tok?
The median owner-occupied home value in Tok, Alaska is $223,700, against $262,800 across Southeast Fairbanks Census Area.
Is it cheaper to rent or buy in Tok?
Median gross rent in Tok is $648 a month, against $1,839 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 Tok?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Tok, Alaska at today's rate takes a household income of roughly $79,000 a year. That covers the full $1,839 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Tok, 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.