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Borough in Alaska

Kodiak Island Borough, Alaska

Kodiak Island Borough, in Alaska, has 12,771 residents: No. 8 of 30 by population. Kodiak Island Borough has an FHA limit of $541,650 for one-unit homes. The typical home value here is $412,300. HUD's Fair Market Rent for a 2-bedroom apartment is $2,239 a month; to pay it without spending more than 30% of your income, you need to earn about $43.06 an hour.

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  • Typical home price

    $412,300

    +17% vs. Alaska +24% vs. U.S.

    Half of owner-occupied homes are worth more and half are worth less.

    • Kodiak Island
    • Alaska
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

  • Fair market rent, 2 bedrooms

    $2,239 a month

    +47% vs. Alaska +28% vs. U.S.

    HUD's reference rent for a two-bedroom apartment, with basic utilities.

    • Kodiak Island
    • Alaska
    • United States

    Source: HUD, Fiscal year 2027

  • FHA limit 2026, 1 unit

    $541,650

    FHA high-cost area

    The most you can borrow with an FHA loan for a one-unit home here.

    • Kodiak Island
    • Floor
    • Ceiling

    Source: HUD, 2026 data

  • Property tax

    0.87% of value per year

    −22% vs. Alaska −7% vs. U.S.

    $3,569 a year for the typical owner

    • Kodiak Island
    • Alaska
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$403,388
3.1% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Data from October 2026

In short

What is housing like in Kodiak Island Borough today?

The monthly payment on a typical home with FHA would be about $3,396, that is, 47% of the typical household income in Kodiak Island Borough. For that payment to be 28% of income, a household would need to earn about $145,523 a year; the typical income here is $86,250. Homes here are worth 17% more than the average across Alaska. Here 61% of households live in a home they own; across Alaska it is 67%. This is a high-cost area for FHA: the limit is above the national floor.

Renting is less of a stretch than in Alaska: 38% of renters put 30% or more of their income toward housing, against 45% statewide.

Sources: U.S. Census Bureau (Average 2020–2024); HUD (2026 data).

Only here

What sets Kodiak Island Borough apart

  1. Kodiak Island Borough has the highest typical rent in its area: $1,765, more than any of its 6 neighboring boroughs; next is Anchorage Municipality ($1,489).

  2. Kodiak Island Borough has the highest typical home value in its area: $412,300, more than any of its 6 neighboring boroughs; next is Anchorage Municipality ($395,900).

  3. At $1,765, Kodiak Island Borough ranks 2nd among the 30 boroughs in Alaska for the highest typical rent.

  4. From 2020 to 2025, home prices in Kodiak Island Borough rose 25% on FHFA's index, slower than in Alaska (39%).

Sources: U.S. Census Bureau (Average 2020–2024); FHFA (2025 data).

The homes here

Housing in Kodiak Island Borough

What homes there are in Kodiak Island Borough, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

As in Alaska, most homes in Kodiak Island Borough are detached houses (66%).

Year built

In Kodiak Island Borough, half of the homes were built before 1987; in Alaska, before 1986.

There is more room for a big family here: 60% of homes have 3 bedrooms or more, against 56% in Alaska.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA loan limit for this borough is $541,650, and about 75% of owner-occupied homes in Kodiak Island Borough are worth less than that.

Monthly rent with utilities

With a mortgage

$2,396 a month

Alaska: $2,229 a month

Without a mortgage

$494 a month

Alaska: $690 a month

Owners with a mortgage

59%

Alaska: 60%

In Kodiak Island Borough, 59% of owners have a mortgage, and their typical cost is $2,396 a month, against $2,229 in Alaska. Without one it drops to $494.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Kodiak Island Borough rose 46%; in Alaska, it rose 31%.

Since 2015–2019, the typical rent in Kodiak Island Borough did not change clearly, according to the Census.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureKodiak Island BoroughAlaskaUnited States
Rental vacancy Unreliable estimate7.0%5.5%
Homeowner vacancy Unreliable estimate0.9%0.9%
More than one person per room 8.7%5.7%3.4%
People per household 2.622.612.53
Drive alone 66%65%69%
Carpool 13%12%9%
Public transit Unreliable estimate1%3%
Walk or bike 9%8%3%
Work from home 5%10%15%
Other means 6%4%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes

More than one person per room: that is how 8.7% of households in Kodiak Island Borough live, more than in Alaska (5.7%).

A household in Kodiak Island Borough has 2.62 people on average, about the same as in Alaska (2.61).

To get to work, 66% of workers in Kodiak Island Borough drive alone; in Alaska, 65%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month in Kodiak Island Borough?

A typical home costs more than the typical income allows

We start with a typical home of $412,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 47% of the typical household income here, which is $86,250 a year. For that payment to be 28% of income, a household would need to earn about $145,523 a year.

Your numbers

Local data
$

Starts at the typical home value in Kodiak Island Borough. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $14,431 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,396

at 7.18% · 30 years

Loan amount
$404,832
Total interest
$582,458
Paid off in
November 2056

Includes $6,963 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,013 a month

  • Tight

    $2,013 to $2,588 a month

  • Hard

    more than $2,588 a month

    Your payment · 47%

Compared with the typical household income in Kodiak Island Borough ($86,250 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,396
Principal & interest$2,742
Property tax$299
Home insurance$172
FHA mortgage insurance (MIP)$182

You need at least $14,431 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

Buying a home

Buying a home in Kodiak Island Borough

Here you'll see how prices have changed, how Kodiak Island Borough compares with Alaska and the country, and what you'd pay each month with four kinds of loans.

How have home prices changed?

According to the FHFA House Price Index, home prices in Kodiak Island Borough rose 38% in the 10 years through 2025. FHFA's index follows the price of the same homes over the years.

Period Here Alaska United States
In 2025 −4.7% +4.1% +2.9%
5 years (2020–2025) +25% +39% +47%
10 years (2015–2025) +38% +52% +85%
See each year's change

The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Kodiak Island Borough compared with Alaska and the United States

Home value, rent and household income, side by side. "Typical" is the median: half are above it and half below.

Typical home value
  • Kodiak Island $412,300
  • Alaska $352,900
  • United States $332,700
Typical rent a month
  • Kodiak Island $1,765
  • Alaska $1,419
  • United States $1,413
Typical household income a year
  • Kodiak Island $86,250
  • Alaska $92,788
  • United States $80,734
See the full table
Kodiak Island compared with Alaska and the United States
MeasureHereAlaskaU.S.
Residents12,771735,706334,922,499
Typical home value$412,300$352,900$332,700
Typical household income$86,250$92,788$80,734
Typical rent$1,765$1,419$1,413
Fair Market Rent (2 bedrooms)$2,239$1,519$1,750
Hourly wage to rent a 2-bedroom$43.06$29.21$33.65
Typical property tax$3,569$3,901$3,119
Effective tax rate0.87%1.11%0.94%
Households that own their home61%67%65%
Renters spending 30% or more on rent38%45%51%
FHA limit (1 unit)*$541,650$541,287$541,287

FHA limit: Alaska shows the median of its counties; the United States, the national floor. Download CSV

Four ways to pay for a typical home in Kodiak Island Borough

For a typical $412,300 home at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, the county's property tax, an example homeowners insurance and mortgage insurance when it applies.

Loan Monthly payment Down payment Loan amount Rate Mortgage insurance Cash to close Minimum score
FHA, 3.5% down $3,396 $14,431 $404,832 7.18% FHA MIP · $182 $26,800 580
Conventional, 5% down $3,320 $20,615 $391,685 7.18% PMI · $196 $32,984 620*
Conventional, 20% down, no PMI $2,705 $82,460 $329,840 7.18% None $94,829 620*
ITIN, 15% down (example) $3,086 $61,845 $350,455 8.18% None $74,214 Set by the lender
  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Closing costs

Loan limits

This is a high-cost area, so FHA limits in Kodiak Island Borough are above the national floor. The limit is set for the whole metro area (Non-Metro). If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.

VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($1,249,125 for one unit). VA loan limits (va.gov)

USDA loans. They're for homes in eligible rural areas and households with incomes within USDA's limit. Check whether the address and your income qualify on the official site. USDA eligibility (usda.gov)

Home type FHA limit Conforming limit
1 unit $541,650 $1,249,125
2 units $693,400 $1,599,375
3 units $838,150 $1,933,200
4 units $1,041,650 $2,402,625

Source: HUD, 2026 data · Source: FHFA, 2026 data

Taxes and risks

Property tax and flooding in Kodiak Island Borough

Two costs that change a lot from place to place and that a house payment does include: property tax and, in risk zones, flood insurance.

Property tax

In Kodiak Island Borough, the typical owner pays $3,569 a year: about 0.87% of the home's value. That is less than the rest of Alaska and less than the national average.

  • Kodiak Island 0.87%
  • Alaska 1.11%
  • United States 0.94%

What Alaska publishes Optional municipal residential exemption (Alaska State Legislature (Alaska Statutes 2025))

Exemptions and deadlines in Alaska

Is there a flood risk?

FEMA’s maps count no homes in high-risk flood zones in Kodiak Island Borough. That does not mean there is no risk: some areas have no map. Check your address.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. (44 CFR 59.1)
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. (42 U.S.C. 4012a)
  • Most homeowners insurance does not cover flood damage. (FEMA, FloodSmart)

Source: FEMA, As of August 3, 2026

Look up your address on FEMA’s map

Owning a home here

Owning a home in Kodiak Island Borough

The natural hazards FEMA measures in Kodiak Island Borough, a maintenance plan for your climate and what the trades earn in your area.

Risks to your home

FEMA, National Risk Index 1.20.0 (December 2025)

In Kodiak Island Borough, FEMA rates the natural hazard risk as relatively low.

To rate it, FEMA weighs the expected loss with social vulnerability and community resilience.

In all, FEMA estimates natural hazards cause about $25.3 million in losses a year in Kodiak Island Borough, across buildings, people and crops.

The hazard that would do the most damage to homes and buildings here is earthquake: about $10.4 million a year.

Loss FEMA expects each year to homes and buildings, by hazard
  1. EarthquakeRelatively moderate $10.4 million a year
  2. Inland floodingVery low $669,818 a year
  3. Winter weatherRelatively low $18,298 a year
  4. WildfireVery low $9,658 a year
  5. TornadoVery low $1 a year

What it means for your home

The ratings are FEMA's own. FEMA says its data is meant for planning and does not replace a local study. Drought is not shown: FEMA counts its loss in crops only.

National Risk Index, version 1.20.0 (December 2025), retrieved November 6, 2026

FEMA notice: This product uses the Federal Emergency Management Agency's National Risk Index dataset API or downloadable datasets but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s).

Climate and upkeep

Department of Energy (PNNL), 2021 IECC zones

The home energy code (IECC) puts Kodiak Island Borough in zone 6A: cold.

The zone's number says how hot or cold it gets; the letter says how humid: A is moist, B is dry and C is marine.

  • Spring

    • Book the air conditioner's check-up before the heat: ENERGY STAR advises checking the cooling system in the spring, because contractors get busy once summer comes. ENERGY STAR (EPA)
    • Clean and repair the roof gutters. EPA

  • Summer

    • Seal the air ducts that run through the attic, crawlspace, basement or garage with duct mastic or foil tape, then wrap them in insulation. ENERGY STAR (EPA)
    • Check that the ground slopes away from the house, so water does not collect around the foundation. EPA

  • Fall

    • Book the heating check-up in the fall. If it runs on gas or oil, the technician should check the connections: faulty ones are a fire hazard. ENERGY STAR (EPA)
    • Seal air leaks and add insulation in the attic: ENERGY STAR says it lowers the chance of ice dams on the roof in snowy climates. ENERGY STAR (EPA)

  • Winter

    • Get the house ready for the cold with insulation, caulking and weather stripping, and learn how to keep pipes from freezing. Ready.gov (FEMA)
    • Put clear plastic film over the windows: it is inexpensive, cuts drafts, helps the house feel warmer in winter and reduces moisture on the glass. ENERGY STAR (EPA)

All year

  • Check the air filter every month, especially in heavy-use months. If it looks dirty, change it; change it at least every 3 months. ENERGY STAR (EPA)
  • Test the smoke alarms every month and replace their batteries at least once a year. USFA (FEMA)

Each task comes from the official page beside it. The spring air-conditioning and fall heating check-ups are the timing ENERGY STAR advises; the rest is a suggested order.

Climate zones by county, 2021 IECC

What the trades charge here

BLS, wages for May 2025

TradeTypical hourly wage8 in 10 earn between
Electricians$44.24$25.07 and $64.35
Plumbers, pipefitters and steamfitters$40.28$25.66 and $59.90
Heating, air conditioning and refrigeration mechanics$28.28$21.66 and $50.50
Roofers$31.64$22.50 and $39.45
Carpenters$34.47$23.59 and $63.27
Painters, construction and maintenance$32.69$22.04 and $42.71
Maintenance and repair workers, general$29.51$18.96 and $45.24

According to BLS, an electrician earns about $44.24 an hour in the Alaska nonmetropolitan area; a plumber, about $40.28.

These are workers' hourly wages, not the price of a job.

Need help paying for a repair?

Renting

Renting in Kodiak Island Borough

The typical rent in Kodiak Island Borough is $1,765 a month. HUD also publishes a “fair market rent” by unit size: it's the one programs like Section 8 use.

38% of renter households in Kodiak Island Borough spend 30% or more of their income on housing. 15% spend half or more.

Fair market rent by size

To pay the fair market rent without spending more than 30% of income, working full time (40 hours a week).

Size Fair rent a month Hourly wage Income needed per year
Studio $1,559 $29.98 $62,360
1 bedroom $1,712 $32.92 $68,480
2 bedrooms $2,239 $43.06 $89,560
3 bedrooms $2,716 $52.23 $108,640
4 bedrooms $2,943 $56.60 $117,720

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Free help in Kodiak Island Borough

Programs and counseling in Kodiak Island Borough

We didn't find counseling agencies near this borough.

Official programs for the down payment and loans for buyers. Check which ones you might qualify for with your income and your county.

Three generations of a family gather on the porch of their home.

HUD counseling is free or low-cost

Alaska down payment programs

  1. Closing Cost Assistance Program (CCAP)

    Alaska state authority help of 3% or 4% of the loan, paid at closing and not repaid, for the down payment, closing costs or to reduce the principal; with 30-year fixed-rate FHA, VA or USDA mortgages

    The source does not say whether you must be a first-time buyer. Run by Alaska Housing Finance Corporation (AHFC).

    Grant Verified November 5, 2026

Which programs do I qualify for? See all Alaska programs

Help in Spanish in Kodiak Island Borough

None of the 0 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Public housing agencies

HUD lists no public housing authority based in Kodiak Island Borough. The authority of a nearby county or the state may serve this area.

Free legal help

If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.

Find legal aid (lsc.gov)

Housing counseling nearby

We didn't find counseling agencies near this borough.

Places

Cities in Kodiak Island Borough

This site has no city pages of Kodiak Island Borough. The neighboring counties are below.

See all 1 cities of Kodiak Island Borough

Nearby places

Each row compares its typical value, typical rent and FHA limit with Kodiak Island Borough.

Read next

Guides that help here

We picked them by this county's numbers: what weighs most here is what's worth understanding first.

Frequently asked questions

What is the FHA loan limit in Kodiak Island Borough in 2026?

Kodiak Island Borough has an FHA limit of $541,650 for a one-unit home. For 2 units it's $693,400, for 3 it's $838,150 and for 4 it's $1,041,650. It's a high-cost area, so the limit is above the national floor.

What is the conforming loan limit in Kodiak Island Borough?

Kodiak Island Borough has a conforming limit of $1,249,125 for one-unit conventional loans in 2026. A bigger loan is a “jumbo” loan.

How much does a typical home cost in Kodiak Island Borough?

The typical home value in Kodiak Island Borough is $412,300 (Average 2020–2024, U.S. Census). Across Alaska it's $352,900.

How much does it cost to rent in Kodiak Island Borough?

Kodiak Island Borough has a typical rent of $1,765 a month (Average 2020–2024, U.S. Census). HUD's fair market rent for a 2-bedroom apartment is $2,239 (Fiscal year 2027).

How much do you need to earn to rent a 2-bedroom apartment in Kodiak Island Borough?

About $43.06 an hour working full time (2,080 hours a year), or $89,560 a year, so the fair market rent of $2,239 stays under 30% of income.

Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); Income Limits (Fiscal year 2026); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (As of November 5, 2026); FHFA House Price Index (2025 data); Homes with flood insurance (As of August 3, 2026); National Risk Index (2025 data); IECC climate zones by county (2021 data); Occupational Employment and Wage Statistics (2025 data); Census Bureau cartographic boundary files (2024 data).