Cost of Living in Petersburg Borough, Alaska

$1,208/mo

Median Monthly Rent

$301,300

Median Home Value

1% below state averageUnaffordableACS 2019-2023 · Updated Dec 2024 Compare this county Explore on Map

At a Glance

Median Monthly Rent

$1,208/mo

1% below state average

Median Home Value

$301,300

7% above national

Rent-to-Income Ratio

29.0%

% 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 Petersburg Borough Compares

Median monthly rent comparison

Petersburg Borough$1,208/mo

Alaska Average$1,221/mo

National Median$1,163/mo

Detailed Housing Stats

$1,208/mo

Median Gross Rent

$301,300

Median Home Value

$1,108/mo

Monthly Owner Cost

29.0%

Rent-to-Income Ratio

National Ranking

Affordability Rank

Petersburg Borough ranks #1,002 of 3,144 counties for affordability (top 32%)

Most AffordableLeast Affordable

Data Story

About Cost of Living in Petersburg Borough, Alaska

Petersburg maintains national affordability

Petersburg's median household income of $77,026 slightly outpaces the U.S. average of $74,755, while its 18.8% rent-to-income ratio tracks near the national comfort zone. The Southeast Alaska fishing and timber economy supports wages that keep housing costs proportionally manageable.

Slightly above Alaska's affordability average

At 18.8%, Petersburg's rent-to-income ratio marginally exceeds Alaska's state average of 18.6%, placing it squarely in the middle of the state's affordability spectrum. The $1,208/month median rent reflects a stable community with moderate maritime-economy employment and fishing-driven incomes.

Southeast Alaska's balanced housing market

Petersburg's $1,208/month rent and $77,026 income reflect Southeast Alaska's fishing and timber heritage, positioning it near state affordability norms. Compared to smaller remote boroughs, Petersburg offers more stable employment and slightly lower absolute rents, though higher home values suggest property appreciation.

Fishing economy supports renter stability

Renters allocate $1,208/month rent against a $77,026 annual income ($6,419/month), consuming 18.8% and leaving room for other obligations. Homeowners face substantial monthly costs of $1,108 on properties valued at $301,300—Alaska's second-highest—reflecting Petersburg's desirable Southeast location and limited available land.

Petersburg for Southeast lifestyle seekers

Petersburg suits those valuing Alaska's maritime communities and fishing heritage, with reasonable rent affordability if your household income approaches $77,000. Be prepared for high home purchase prices and limited job diversity outside the fishing and timber sectors.

Cost of Living Advisory: Petersburg Borough

Affordability Verdict

Housing in Petersburg Borough is affordable. The median rent is $1,208/month against a median household income of $77,026, putting rent at 18.8% of income.

Rent vs. Own

The median rent in Petersburg Borough is $1,208/month, while owner costs run $1,108/month. Owning saves approximately $100/month.

Income Needed

To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $48,320/year. For owner costs at the 28% rule, the required income is roughly $47,486/year. With a median household income of $77,026, most households can comfortably afford rent here. Notably, 29.0% of renter households in Petersburg Borough are cost-burdened, spending more than 30% of income on housing.

Regional Context

Compared to Yakutat City and Borough where rent averages $1,276/month, Petersburg Borough is approximately 5% less expensive.

Affordability Calculator

See how your income compares to housing costs in Petersburg Borough

Your Annual Household Income

Rent Burden

18.8%

of gross income

Max Housing (28% Rule)

$1,797

per month

Owner Cost Burden

17.3%

of gross income

The median home in Petersburg Borough may be a stretch

Median home value is $301,300. Estimated monthly cost: $2,405 vs. your max of $1,797.

Rent Affordability Guide

Your rent-to-income ratio18.8%

Recommended max30.0%

Income Needed Calculator

See how much you need to earn to comfortably afford housing

Your Annual Household Income

Rent Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $77,026Needed: $48,320

Owner Cost Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $77,026Needed: $47,486

Mortgage Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $77,026Needed: $70,121

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 Petersburg Borough, Alaska?

Petersburg Borough, Alaska has a median monthly rent of $1,208/mo and a median home value of $301,300. The affordability rating is Unaffordable, with rent making up approximately 29.0% of median household income.

What is the median rent in Petersburg Borough?

The median gross rent in Petersburg Borough is $1,208/mo. This is 1% below state average for Alaska.

Is Petersburg Borough affordable?

Petersburg Borough is rated Unaffordable based on rent-to-income ratio of 29.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Petersburg Borough's rent compare to the state average?

Petersburg Borough's median rent of $1,208/mo is 1% below state average of $1,221/mo for Alaska.

What is the median home value in Petersburg Borough?

The median home value in Petersburg Borough, Alaska is $301,300. This is 7% above the national median home value of $281,900.