Cost of Living in Lake and Peninsula Borough, Alaska
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lake and Peninsula Borough Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lake and Peninsula Borough ranks #1,970 of 3,144 counties for affordability (bottom 37%)
Data Story
About Cost of Living in Lake and Peninsula Borough, Alaska
Lake and Peninsula beats national affordability
Lake and Peninsula's rent-to-income ratio of 17.5% falls comfortably below the national affordability threshold, meaning housing costs consume a reasonable share of household income. With a median household income of $64,000 and median rent of $933/month, residents here strike a better balance than most Alaska boroughs.
Alaska's more affordable option
At 17.5%, Lake and Peninsula ranks below Alaska's state average rent-to-income ratio of 18.6%, placing it among the state's better-positioned boroughs for renters. The combination of moderate rents ($933/month) and steady local incomes makes this one of Alaska's more livable remote communities.
Moderate costs, moderate income
Lake and Peninsula's $933/month rent sits between Alaska's pricier urban centers and the cheapest rural areas, reflecting its mid-tier regional economy. Compared to nearby Kusilvak (lower rent, lower income) and Nome (higher rent, higher income), it offers a balanced middle ground.
Balanced housing and income picture
At $933/month rent against a $64,000 annual household income ($5,333/month), Lake and Peninsula residents allocate roughly 17.5% of income to rent—a sustainable ratio. Homeowners face monthly costs of $533 on properties averaging $166,100, creating an accessible ownership path compared to pricier Alaska boroughs.
Lake and Peninsula for balanced relocation
Lake and Peninsula offers relative affordability and reasonable rent-to-income ratios for those seeking Alaska's remote lifestyle without financial strain. If your household income hovers near $64,000, this borough delivers livable housing costs and a stable local economy.
Cost of Living Advisory: Lake and Peninsula Borough
Affordability Verdict
Housing in Lake and Peninsula Borough is affordable. The median rent is $933/month against a median household income of $64,000, putting rent at 17.5% of income.
Rent vs. Own
At $933/month rent versus $533/month in owner costs, owning is roughly $400/month cheaper — a 43% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $37,320/year. For owner costs at the 28% rule, the required income is roughly $22,843/year. With a median household income of $64,000, most households can comfortably afford rent here. Notably, 18.0% of renter households in Lake and Peninsula Borough are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Alaska, Lake and Peninsula Borough is less affordable than Hoonah-Angoon Census Area by roughly 5% ($933/mo vs $986/mo).
Affordability Calculator
See how your income compares to housing costs in Lake and Peninsula Borough
Rent Burden
17.5%
of gross income
Max Housing (28% Rule)
$1,493
per month
Owner Cost Burden
10.0%
of gross income
You can likely afford the median home in Lake and Peninsula Borough
Median home value is $166,100. Estimated monthly cost: $1,326 vs. your max of $1,493.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Lake and Peninsula Borough, Alaska?
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Is Lake and Peninsula Borough affordable?
How does Lake and Peninsula Borough's rent compare to the state average?
What is the median home value in Lake and Peninsula Borough?
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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