The typical owner-occupied home in Lake and Peninsula Borough is worth about $237,500, 33% below the Alaska median of $352,900 and 29% below the national median of $332,700. The median household earns $65,625 a year, so the median home costs 3.6 times the median income (3.8 times for Alaska). 65% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Lake and Peninsula Borough at a glance
| Lake and Peninsula Borough | Alaska | U.S. | |
|---|---|---|---|
| Median home value | $237,500 | $352,900 | $332,700 |
| Median property tax paid per year | – | $3,901 | $3,119 |
| Median household income | $65,625 | $92,788 | $80,734 |
| Homes lived in by their owners | 65% | 67% | 65% |
| Owner homes with a mortgage | 28% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,375 | $2,229 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 21.6% | 21.0% |
| Median rent | $936 | $1,419 | $1,413 |
| Rent as a share of renters' income | 22.5% | 27.7% | 30.6% |
| Median year homes were built | 1986 | 1986 | 1980 |
| Vacant homes | 75.7% | 17.6% | 10.1% |
| Population | 1,013 | 735,706 | 334,922,499 |
What a typical home costs per month in Lake and Peninsula Borough
At this week's average 30-year rate of 7.11%, buying the median Lake and Peninsula Borough home of $237,500 with 20% down costs about $1,595 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,990, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $68,349 for the 20%-down payment. That payment is 29% of the median Lake and Peninsula Borough household income of $65,625; at that income and 20% down, the 28% guideline points to a home of about $228,000.
The median rent here is $936 a month, so owning the median home costs about $659 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,500 |
|---|---|
| Loan amount | $190,000 |
| Principal and interest | $1,278 |
| Property taxes (1.10% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| PMI | $0 |
| Total per month | $1,595 |
Change the numbers in the calculator
| Down payment | $8,312 |
|---|---|
| Loan amount | $233,198 |
| Principal and interest | $1,569 |
| Property taxes (1.10% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| FHA mortgage insurance | $105 |
| Total per month | $1,990 |
Change the numbers in the calculator
Questions about home buying in Lake and Peninsula Borough
What is the median home value in Lake and Peninsula Borough?
About $237,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Lake and Peninsula Borough?
For the median home with 20% down at 7.11%, the payment is about $1,595 a month. Keeping that under 28% of gross income takes about $68,349 a year.
More about Lake and Peninsula Borough
- Mortgage Refinance in Lake and Peninsula Borough
- Debt Relief in Lake and Peninsula Borough
- Home Equity Loans in Lake and Peninsula Borough
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data