The typical owner-occupied home in Point Lay is worth about $119,100, 66% below the Alaska median of $352,900 and 64% below the national median of $332,700. The median household earns $104,063 a year, so the median home costs 1.1 times the median income (3.8 times for Alaska). 46% of occupied homes here are lived in by their owners, and 24% of those owners still have a mortgage.
Point Lay at a glance
| Point Lay | Alaska | U.S. | |
|---|---|---|---|
| Median home value | $119,100 | $352,900 | $332,700 |
| Median property tax paid per year | – | $3,901 | $3,119 |
| Median household income | $104,063 | $92,788 | $80,734 |
| Homes lived in by their owners | 46% | 67% | 65% |
| Owner homes with a mortgage | 24% | 60% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,229 | $1,963 |
| Median rent | $1,042 | $1,419 | $1,413 |
| Rent as a share of renters' income | 10.2% | 27.7% | 30.6% |
| Median year homes were built | 1987 | 1986 | 1980 |
| Vacant homes | 18.6% | 17.6% | 10.1% |
| Population | 390 | 735,706 | 334,922,499 |
What a typical home costs per month in Point Lay
At this week's average 30-year rate of 7.11%, buying the median Point Lay home of $119,100 with 20% down costs about $800 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $998, 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 $34,275 for the 20%-down payment. That payment is 9% of the median Point Lay household income of $104,063; at that income and 20% down, the 28% guideline points to a home of about $362,000.
The median rent here is $1,042 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $23,820 |
|---|---|
| Loan amount | $95,280 |
| Principal and interest | $641 |
| Property taxes (1.10% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| PMI | $0 |
| Total per month | $800 |
Change the numbers in the calculator
| Down payment | $4,168 |
|---|---|
| Loan amount | $116,943 |
| Principal and interest | $787 |
| Property taxes (1.10% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| FHA mortgage insurance | $53 |
| Total per month | $998 |
Change the numbers in the calculator
Questions about home buying in Point Lay
What is the median home value in Point Lay?
About $119,100 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 Point Lay?
For the median home with 20% down at 7.11%, the payment is about $800 a month. Keeping that under 28% of gross income takes about $34,275 a year.
More about Point Lay
- Mortgage Refinance in Point Lay
- Debt Relief in Point Lay
- Home Equity Loans in Point Lay
- 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