CALCMONEY // HOME AFFORDABILITY // AK // KETCHIKAN
How much house can you afford in Ketchikan? Based on local median home prices, current AK mortgage rates, and Ketchikan property tax data.
$340,000
$2,240/mo
$95,986/yr
$225,502
Monthly housing costs of $2,240 represent 38.4% of Ketchikan's median gross monthly income ($5,833/mo). At 38.4%, median-income buyers in Ketchikan are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $340,000 |
| Down Payment (20%) | $68,000 |
| Loan Amount | $272,000 |
| Monthly PI Payment | $1,800 |
| Monthly Property Tax | $298 |
| Monthly Insurance Est. | $142 |
| Total Monthly PITI | $2,240 |
| Housing Cost % of Income | 38.4% |
| Required Income (28% rule) | $95,986/yr |
| Max Affordable Home | $225,502 |
$11,900
$2,843/mo
Ketchikan Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $340,000 | Ketchikan city median |
| Down Payment (20%) | $68,000 | Conventional loan |
| Monthly PITI | $2,240 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $95,986 | Annual gross |
| Max Affordable Home | $225,502 | Based on median income |
| FHA Down (3.5%) | $11,900 | Minimum FHA |
| Housing Cost % of Income | 38.4% | Median income: $70,000/yr |
| Property Tax Rate | 1.05% | $3,570/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Ketchikan is $340,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $272,000, generating a monthly P&I payment of $1,800. Adding property taxes ($298/mo) and homeowners insurance ($142/mo) brings total monthly PITI to $2,240.
Ketchikan's property tax rate of 1.05% is near the national average, adding a standard increment to monthly housing costs. On the Ketchikan median home, that is $298/month, or $3,570 per year.
Alaska has no state income tax, improving effective take-home pay for Ketchikan residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Ketchikan's median income of $70,000/year can afford up to $1,633/month in total housing costs. Based on Ketchikan's mortgage rate of 6.95% and property tax rate of 1.05%, that translates to a maximum affordable home price of approximately $225,502 with 20% down on a 30-year loan.
To afford the median Ketchikan home priced at $340,000, you need an annual gross income of approximately $95,986. Total monthly housing costs (principal and interest of $1,800, property taxes of $298, and insurance of $142) come to $2,240/month, which equals 28% of the required income.
At the median home price of $340,000 and median household income of $70,000, the total monthly housing cost of $2,240 represents 38.4% of gross monthly income. This is well above the standard 28% threshold, making Ketchikan a challenging market for buyers at median income.
A conventional 20% down payment on the median Ketchikan home of $340,000 is $68,000. An FHA loan requires just 3.5% down — $11,900 — but adds mortgage insurance of roughly $232/month, bringing total FHA payments to $2,843/month.