Kodiak Island Borough, Alaska Housing Market Prices
Kodiak Island Borough Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 162% above the Alaska median Most expensive county in Alaska$840,172
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Median rent 24% above the Alaska median Among the 3 most expensive counties in Alaska$1,764
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Kodiak Island Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $840,172 | $320,616 | $248,835 |
| Price Trend (Annual %) | 36.9% | 5.4% | 7.5% |
| Median Gross Rent | $1,764 | $1,418 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 2.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kodiak Island Borough is about 162% higher than in Alaska. Rent is about 24% higher than the Alaska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Kodiak Island Borough, up about 36.9% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Kodiak Island Borough rose about 80.0% between 2015 and 2024, from $980 to $1,764. Over the same span, rent in Alaska rose about 23.8%.
Affordability
On average, housing unit costs 9.9 yearly household incomes in Kodiak Island Borough.
Buying the median-priced home in Kodiak Island Borough costs roughly 39.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Kodiak Island Borough. The price-to-rent ratio in Alaska is about 18.8.
| Metric | Kodiak Island Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $840,172 | $320,616 | $248,835 |
| Median Household Income | $84,938 | $93,666 | $80,455 |
| Price-to-Income Ratio | 9.9 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kodiak Island Borough rose about 320.0%, while median household income rose about 39.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Kodiak Island Borough | Alaska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.4% | 55.1% | 58.5% |
| Rental Rate | 30.9% | 27.3% | 31.2% |
| Vacancy Rate | 20.8% | 17.6% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Kodiak Island Borough has a homeownership rate of 48.4%, lower than the Alaska average of 55.1%. Its housing vacancy rate is 20.8%, compared with 17.6% in Alaska.
Housing Stock
| Metric | Kodiak Island Borough | Alaska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1986 | 1986 | 1978 |
| Median Number of Rooms | 4.9 | 4.8 | 5.5 |
The typical housing unit in Kodiak Island Borough was built around 1986. On average, 2.6 people live in a home with about 4.9 rooms, staying for about 13.0 years on average.
Kodiak Island Borough, AK Housing Compared With Nearby Counties
How Kodiak Island Borough, AK compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Kodiak Island Borough, AK | 12,771 | $840,172 #1/3 | $1,764 #1/3 | 61.1% #3/3 |
| Kenai Peninsula Borough, AK | 60,577 | $264,574 | $1,183 | 77.1% |
| Anchorage Municipality, AK | 288,818 | $334,902 | $1,488 | 63.9% |
Frequently Asked Questions
Common questions about the housing market in Kodiak Island Borough, Alaska.
What is the median home price in Kodiak Island Borough, Alaska?
The median home price in Kodiak Island Borough, Alaska is $840,172, higher than the Alaska average of $320,616.
What is the average home price in Kodiak Island Borough, Alaska?
The typical home price in Kodiak Island Borough, Alaska, reported as the median sale price, is $840,172. 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 Kodiak Island Borough, Alaska?
The median gross rent in Kodiak Island Borough, Alaska is $1,764 per month, higher than the Alaska average of $1,418.
What was the median gross rent in Kodiak Island Borough in 2020?
In 2020, the median gross rent in Kodiak Island Borough, Alaska was $1,412 per month.
What is the price-to-rent ratio in Kodiak Island Borough, Alaska?
The price-to-rent ratio in Kodiak Island Borough, Alaska is about 39.7, meaning it would take roughly 39.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Kodiak Island Borough.
Are home prices or rent rising faster in Kodiak Island Borough, Alaska?
Both home prices and rent are rising in Kodiak Island Borough, up about 36.9% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kodiak Island Borough, Alaska?
48.4% of households in Kodiak Island Borough, Alaska own their home, lower than the Alaska average of 55.1%.
What is the vacancy rate in Kodiak Island Borough, Alaska?
The housing vacancy rate in Kodiak Island Borough, Alaska is 20.8%, higher than the Alaska average of 17.6%.
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