Cost of Living in Lake and Peninsula Borough, Alaska

$933/mo

Median Monthly Rent

$166,100

Median Home Value

24% below state averageUnaffordable

At a Glance

Median Monthly Rent

$933/mo

24% below state average

Median Home Value

$166,100

41% below national

Rent-to-Income Ratio

18.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Lake and Peninsula Borough Compares

Median monthly rent comparison

Lake and Peninsula Borough$933/mo

Alaska Average$1,221/mo

National Median$1,163/mo

Detailed Housing Stats

$933/mo

Median Gross Rent

$166,100

Median Home Value

$533/mo

Monthly Owner Cost

18.0%

Rent-to-Income Ratio

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.

Affordability Calculator

See how your income compares to housing costs in Lake and Peninsula Borough

Your Annual Household Income

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

Your rent-to-income ratio17.5%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Lake and Peninsula Borough, Alaska?

Lake and Peninsula Borough, Alaska has a median monthly rent of $933/mo and a median home value of $166,100. The affordability rating is Unaffordable, with rent making up approximately 18.0% of median household income.

What is the median rent in Lake and Peninsula Borough?

The median gross rent in Lake and Peninsula Borough is $933/mo. This is 24% below state average for Alaska.

Is Lake and Peninsula Borough affordable?

Lake and Peninsula Borough is rated Unaffordable based on rent-to-income ratio of 18.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Lake and Peninsula Borough's rent compare to the state average?

Lake and Peninsula Borough's median rent of $933/mo is 24% below state average of $1,221/mo for Alaska.

What is the median home value in Lake and Peninsula Borough?

The median home value in Lake and Peninsula Borough, Alaska is $166,100. This is 41% below the national median home value of $281,900.