The typical owner-occupied home in Point Hope is worth about $167,000, 53% below the Alaska median of $352,900 and 50% below the national median of $332,700. Owners pay a median $3,375 a year in property taxes, about 2.02% of their home's value, higher than the Alaska rate of 1.11%. The median household earns $74,844 a year, so the median home costs 2.2 times the median income (3.8 times for Alaska). 55% of occupied homes here are lived in by their owners, and 5% of those owners still have a mortgage.
Point Hope at a glance
| Point Hope | Alaska | U.S. | |
|---|---|---|---|
| Median home value | $167,000 | $352,900 | $332,700 |
| Median property tax paid per year | $3,375 | $3,901 | $3,119 |
| Property tax as a share of value | 2.02% | 1.11% | 0.94% |
| Median household income | $74,844 | $92,788 | $80,734 |
| Homes lived in by their owners | 55% | 67% | 65% |
| Owner homes with a mortgage | 5% | 60% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,229 | $1,963 |
| Median rent | $1,088 | $1,419 | $1,413 |
| Rent as a share of renters' income | 16.5% | 27.7% | 30.6% |
| Median year homes were built | 1982 | 1986 | 1980 |
| Vacant homes | 14.4% | 17.6% | 10.1% |
| Population | 832 | 735,706 | 334,922,499 |
What a typical home costs per month in Point Hope
At this week's average 30-year rate of 7.11%, buying the median Point Hope home of $167,000 with 20% down costs about $1,249 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,528, 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 $53,547 for the 20%-down payment. That payment is 20% of the median Point Hope household income of $74,844; at that income and 20% down, the 28% guideline points to a home of about $233,000.
The median rent here is $1,088 a month, so owning the median home costs about $161 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $33,400 |
|---|---|
| Loan amount | $133,600 |
| Principal and interest | $899 |
| Property taxes (2.02% a year) | $281 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| PMI | $0 |
| Total per month | $1,249 |
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| Down payment | $5,845 |
|---|---|
| Loan amount | $163,975 |
| Principal and interest | $1,103 |
| Property taxes (2.02% a year) | $281 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| FHA mortgage insurance | $74 |
| Total per month | $1,528 |
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Questions about home buying in Point Hope
What is the median home value in Point Hope?
About $167,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Point Hope?
Homeowners pay a median $3,375 a year, which is about 2.02% 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 Point Hope?
For the median home with 20% down at 7.11%, the payment is about $1,249 a month. Keeping that under 28% of gross income takes about $53,547 a year.
More about Point Hope
- Mortgage Refinance in Point Hope
- Debt Relief in Point Hope
- Home Equity Loans in Point Hope
- 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