Petersburg Borough, Alaska Housing Market Prices
Petersburg 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 38% below the Alaska median$199,998
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Median rent 33% below the Alaska median Among the top 5 cheapest counties in Alaska$950
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Petersburg Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $199,998 | $320,616 | $248,835 |
| Price Trend (Annual %) | 2.1% | 5.4% | 7.5% |
| Median Gross Rent | $950 | $1,418 | $1,407 |
| Rent Trend (Annual %) | 1.0% | 2.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Petersburg Borough is about 38% lower than in Alaska. Rent is about 33% lower 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 Petersburg Borough, up about 2.1% and 1.0% a year respectively. Home prices are changing faster.
Median rent in Petersburg Borough rose about 1.2% between 2015 and 2024, from $938 to $950. Over the same span, rent in Alaska rose about 23.8%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Petersburg Borough.
Buying the median-priced home in Petersburg Borough costs roughly 17.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Petersburg Borough. The price-to-rent ratio in Alaska is about 18.8.
| Metric | Petersburg Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $199,998 | $320,616 | $248,835 |
| Median Household Income | $75,044 | $93,666 | $80,455 |
| Price-to-Income Ratio | 2.7 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Petersburg Borough rose about 13.9%, while median household income rose about 12.3% between 2010 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 | Petersburg Borough | Alaska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.4% | 55.1% | 58.5% |
| Rental Rate | 25.2% | 27.3% | 31.2% |
| Vacancy Rate | 26.4% | 17.6% | 10.2% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Petersburg Borough has a homeownership rate of 48.4%, lower than the Alaska average of 55.1%. Its housing vacancy rate is 26.4%, compared with 17.6% in Alaska.
Housing Stock
| Metric | Petersburg Borough | Alaska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1977 | 1986 | 1978 |
| Median Number of Rooms | 4.8 | 4.8 | 5.5 |
The typical housing unit in Petersburg Borough was built around 1977. On average, 2.3 people live in a home with about 4.8 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Petersburg Borough, Alaska.
What is the median home price in Petersburg Borough, Alaska?
The median home price in Petersburg Borough, Alaska is $199,998, lower than the Alaska average of $320,616.
What is the average home price in Petersburg Borough, Alaska?
The typical home price in Petersburg Borough, Alaska, reported as the median sale price, is $199,998. 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 Petersburg Borough, Alaska?
The median gross rent in Petersburg Borough, Alaska is $950 per month, lower than the Alaska average of $1,418.
What was the median gross rent in Petersburg Borough in 2020?
In 2020, the median gross rent in Petersburg Borough, Alaska was $931 per month.
What is the price-to-rent ratio in Petersburg Borough, Alaska?
The price-to-rent ratio in Petersburg Borough, Alaska is about 17.6, meaning it would take roughly 17.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Petersburg Borough.
Are home prices or rent rising faster in Petersburg Borough, Alaska?
Both home prices and rent are rising in Petersburg Borough, up about 2.1% and 1.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Petersburg Borough, Alaska?
48.4% of households in Petersburg Borough, Alaska own their home, lower than the Alaska average of 55.1%.
What is the vacancy rate in Petersburg Borough, Alaska?
The housing vacancy rate in Petersburg Borough, Alaska is 26.4%, higher than the Alaska average of 17.6%.
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