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$402,190
$2,572/mo
$336,835
$110,213/yr
| Median Home Price | $402,190 |
| Down Payment (20%) | $80,438 |
| Loan Amount | $321,752 |
| Monthly PI Payment | $2,089 |
| Monthly Property Tax | $315 |
| Monthly Insurance Est. | $168 |
| Total Monthly PITI | $2,572 |
| Required Gross Income (28% rule) | $110,213/yr |
| Max Affordable Price (28% rule) | $336,835 |
$14,077
$3,277/mo
Alaska Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $402,190 | State median |
| Down Payment (20%) | $80,438 | Conventional |
| Monthly PITI (median home) | $2,572 | 6.76% rate |
| Required Income (28% rule) | $110,213 | Annual gross |
| Max Affordable Home | $336,835 | Based on median income |
| FHA Down Payment (3.5%) | $14,077 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Alaska is $402,190, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $321,752, resulting in a monthly principal and interest payment of $2,089. Once property taxes and insurance are added, total monthly housing costs reach $2,572.
Property taxes in Alaska average 0.94%, near the national average of 1.1%. On the median Alaska home, property taxes add $315/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 $95,665/year can afford up to $2,232/month in total housing costs (principal, interest, taxes, and insurance). Based on Alaska's current mortgage rate of 6.76% and property tax rate of 0.94%, that translates to a maximum affordable home price of approximately $336,835 with 20% down on a 30-year loan.
To comfortably afford the median Alaska home priced at $402,190, you need an annual gross income of approximately $110,213. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,089, property taxes of $315, and insurance of $168) come to $2,572/month, which should not exceed 28% of your gross monthly income.
Alaska's average property tax rate is 0.94%, which is near the national average of 1.1%. On the median Alaska home of $402,190, that means annual property taxes of $3,781, or $315/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 $402,190, that is $14,077. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($80,438 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.