Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Aleutians East Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,000 | $303,164 | $242,182 |
| Price Trend (Annual %) | — | 5.4% | 8.2% |
| Median Gross Rent | $1,040 | $1,387 | $1,342 |
| Rent Trend (Annual %) | 1.7% | 2.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Aleutians East Borough is about 51% lower than in Alaska. Rent is about 25% lower than the Alaska average.
Median Home and Rent Price Trends
Median Home Prices, 2019
Median Rent Prices, 2015-2023
Median rent in Aleutians East Borough rose about 11.8% between 2015 and 2023, from $929 to $1,040. Over the same span, rent in Alaska rose about 21.0%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Aleutians East Borough.
Buying the median-priced home in Aleutians East Borough costs roughly 12.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Aleutians East Borough. The price-to-rent ratio in Alaska is about 18.2.
| Metric | Aleutians East Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,000 | $303,164 | $242,182 |
| Median Household Income | $72,096 | $90,338 | $78,145 |
| Price-to-Income Ratio | 2.1 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Occupancy & Tenure
| Metric | Aleutians East Borough | Alaska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.5% | 54.5% | 58.2% |
| Rental Rate | 36.5% | 27.3% | 31.3% |
| Vacancy Rate | 15.0% | 18.2% | 10.6% |
| Median Tenure (years) | 21.0 | 14.0 | 15.0 |
| Median Year Moved In | 2005 | 2012 | 2011 |
Aleutians East Borough has a homeownership rate of 48.5%, lower than the Alaska average of 54.5%. Its housing vacancy rate is 15.0%, compared with 18.2% in Alaska.
Housing Stock
| Metric | Aleutians East Borough | Alaska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.63 people | 2.54 people |
| Median Structure Built Year | 1981 | 1985 | 1978 |
| Median Number of Rooms | 5.0 | 4.8 | 5.5 |
The typical housing unit in Aleutians East Borough was built around 1981. On average, 2.2 people live in a home with about 5.0 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Aleutians East Borough, Alaska.
What is the median home price in Aleutians East Borough, Alaska?
The median home price in Aleutians East Borough, Alaska is $150,000, lower than the Alaska average of $303,164.
What is the average home price in Aleutians East Borough, Alaska?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Aleutians East Borough, Alaska?
The median gross rent in Aleutians East Borough, Alaska is $1,040 per month, lower than the Alaska average of $1,387.
What was the median gross rent in Aleutians East Borough in 2020?
In 2020, the median gross rent in Aleutians East Borough, Alaska was $1,087 per month.
What is the price-to-rent ratio in Aleutians East Borough, Alaska?
The price-to-rent ratio in Aleutians East Borough, Alaska is about 12.0, meaning it would take roughly 12.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Aleutians East Borough.
What is the homeownership rate in Aleutians East Borough, Alaska?
48.5% of households in Aleutians East Borough, Alaska own their home, lower than the Alaska average of 54.5%.
What is the vacancy rate in Aleutians East Borough, Alaska?
The housing vacancy rate in Aleutians East Borough, Alaska is 15.0%, lower than the Alaska average of 18.2%.