The typical owner-occupied home in Coffman Cove is worth about $250,000, 29% below the Alaska median of $352,900 and 25% below the national median of $332,700. The median household earns $62,917 a year, so the median home costs 4.0 times the median income (3.8 times for Alaska). 85% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Coffman Cove at a glance
| Coffman Cove | Alaska | U.S. | |
|---|---|---|---|
| Median home value | $250,000 | $352,900 | $332,700 |
| Median property tax paid per year | – | $3,901 | $3,119 |
| Median household income | $62,917 | $92,788 | $80,734 |
| Homes lived in by their owners | 85% | 67% | 65% |
| Owner homes with a mortgage | 25% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,865 | $2,229 | $1,963 |
| Those costs as a share of the owners' income | 24.4% | 21.6% | 21.0% |
| Median rent | $1,479 | $1,419 | $1,413 |
| Rent as a share of renters' income | 29.2% | 27.7% | 30.6% |
| Median year homes were built | 1993 | 1986 | 1980 |
| Vacant homes | 45.6% | 17.6% | 10.1% |
| Population | 269 | 735,706 | 334,922,499 |
What a typical home costs per month in Coffman Cove
At this week's average 30-year rate of 7.11%, buying the median Coffman Cove home of $250,000 with 20% down costs about $1,679 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,095, 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 $71,946 for the 20%-down payment. That payment is 32% of the median Coffman Cove household income of $62,917; at that income and 20% down, the 28% guideline points to a home of about $219,000.
The median rent here is $1,479 a month, so owning the median home costs about $200 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $50,000 |
|---|---|
| Loan amount | $200,000 |
| Principal and interest | $1,345 |
| Property taxes (1.10% a year) | $229 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| PMI | $0 |
| Total per month | $1,679 |
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| Down payment | $8,750 |
|---|---|
| Loan amount | $245,472 |
| Principal and interest | $1,651 |
| Property taxes (1.10% a year) | $229 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| FHA mortgage insurance | $111 |
| Total per month | $2,095 |
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Questions about home buying in Coffman Cove
What is the median home value in Coffman Cove?
About $250,000 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 Coffman Cove?
For the median home with 20% down at 7.11%, the payment is about $1,679 a month. Keeping that under 28% of gross income takes about $71,946 a year.
More about Coffman Cove
- Mortgage Refinance in Coffman Cove
- Debt Relief in Coffman Cove
- Home Equity Loans in Coffman Cove
- 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