The typical owner-occupied home in Big Lake is worth about $298,700, 15% below the Alaska median of $352,900 and 10% below the national median of $332,700. Owners pay a median $3,174 a year in property taxes, about 1.06% of their home's value, close to the Alaska rate of 1.11%. The median household earns $81,406 a year, so the median home costs 3.7 times the median income (3.8 times for Alaska). 82% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Big Lake at a glance
| Big Lake | Alaska | U.S. | |
|---|---|---|---|
| Median home value | $298,700 | $352,900 | $332,700 |
| Median property tax paid per year | $3,174 | $3,901 | $3,119 |
| Property tax as a share of value | 1.06% | 1.11% | 0.94% |
| Median household income | $81,406 | $92,788 | $80,734 |
| Homes lived in by their owners | 82% | 67% | 65% |
| Owner homes with a mortgage | 58% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,728 | $2,229 | $1,963 |
| Those costs as a share of the owners' income | 20.7% | 21.6% | 21.0% |
| Median rent | $1,235 | $1,419 | $1,413 |
| Rent as a share of renters' income | 33.0% | 27.7% | 30.6% |
| Median year homes were built | 1993 | 1986 | 1980 |
| Vacant homes | 47.3% | 17.6% | 10.1% |
| Population | 3,585 | 735,706 | 334,922,499 |
What a typical home costs per month in Big Lake
At this week's average 30-year rate of 7.11%, buying the median Big Lake home of $298,700 with 20% down costs about $1,996 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,493, 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 $85,535 for the 20%-down payment. That payment is 29% of the median Big Lake household income of $81,406; at that income and 20% down, the 28% guideline points to a home of about $284,000.
The median rent here is $1,235 a month, so owning the median home costs about $761 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $59,740 |
|---|---|
| Loan amount | $238,960 |
| Principal and interest | $1,608 |
| Property taxes (1.06% a year) | $264 |
| Homeowners insurance (our estimate, 0.5% a year) | $124 |
| PMI | $0 |
| Total per month | $1,996 |
Change the numbers in the calculator
| Down payment | $10,454 |
|---|---|
| Loan amount | $293,290 |
| Principal and interest | $1,973 |
| Property taxes (1.06% a year) | $264 |
| Homeowners insurance (our estimate, 0.5% a year) | $124 |
| FHA mortgage insurance | $132 |
| Total per month | $2,493 |
Change the numbers in the calculator
Questions about home buying in Big Lake
What is the median home value in Big Lake?
About $298,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Big Lake?
Homeowners pay a median $3,174 a year, which is about 1.06% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Big Lake?
For the median home with 20% down at 7.11%, the payment is about $1,996 a month. Keeping that under 28% of gross income takes about $85,535 a year.
More about Big Lake
- Mortgage Refinance in Big Lake
- Debt Relief in Big Lake
- Home Equity Loans in Big Lake
- 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