CALCMONEY // HOME AFFORDABILITY // AK
Find out how much home you can afford in Alaska using local median home prices, current mortgage rates, and AK-specific property tax data.
Open Full Calculator$342,000
$2,311/mo
$249,319
$99,048/yr
| Median Home Price | $342,000 |
| Down Payment (20%) | $68,400 |
| Loan Amount | $273,600 |
| Monthly PI Payment | $1,829 |
| Monthly Property Tax | $339 |
| Monthly Insurance Est. | $143 |
| Total Monthly PITI | $2,311 |
| Required Gross Income (28% rule) | $99,048/yr |
| Max Affordable Price (28% rule) | $249,319 |
$11,970
$2,922/mo
Alaska Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $342,000 | State median |
| Down Payment (20%) | $68,400 | Conventional |
| Monthly PITI (median home) | $2,311 | 7.05% rate |
| Required Income (28% rule) | $99,048 | Annual gross |
| Max Affordable Home | $249,319 | Based on median income |
| FHA Down Payment (3.5%) | $11,970 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Alaska is $342,000, with a current 30-year fixed mortgage rate of 7.05%. A buyer putting 20% down on the median home would carry a loan of $273,600, resulting in a monthly principal and interest payment of $1,829. Once property taxes and insurance are added, total monthly housing costs reach $2,311.
Property taxes in Alaska average 1.19%, near the national average of 1.1%. On the median Alaska home, property taxes add $339/month to total housing costs.
Alaska has no state income tax, which increases effective take-home pay relative to higher-tax states and can improve overall buying power for AK residents.
Using the 28% rule, a household earning Alaska's median income of $77,800/year can afford up to $1,815/month in total housing costs (principal, interest, taxes, and insurance). Based on Alaska's current mortgage rate of 7.05% and property tax rate of 1.19%, that translates to a maximum affordable home price of approximately $249,319 with 20% down on a 30-year loan.
To comfortably afford the median Alaska home priced at $342,000, you need an annual gross income of approximately $99,048. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,829, property taxes of $339, and insurance of $143) come to $2,311/month, which should not exceed 28% of your gross monthly income.
Alaska's average property tax rate is 1.19%, which is above the national average of 1.1%. On the median Alaska home of $342,000, that means annual property taxes of $4,070, or $339/month. Because lenders include property taxes in your debt-to-income calculation, Alaska's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Alaska home of $342,000, that is $11,970. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($68,400 on the median Alaska home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Alaska-specific minimum down payment requirements beyond federal guidelines.