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Alaska mortgage calculator

The median home in Alaska runs about $370,000. With 20% down that's a loan near $296,000 — the calculator is pre-filled with that figure. Alaska charges no statewide sales tax, so a car purchase is taxed only where a local borough adds one. Property taxes are middling and concentrated in the Anchorage and Fairbanks areas.

$1,921.82 / month

Total interest
$395,854
Total paid
$691,854
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$74k$148k$222k$296k0612182430Year

How it works

A full Alaska payment is more than principal and interest. At the state's 1.07% effective property tax rate, a $370,000 home owes about $3,959 a year in tax, and homeowners insurance averages roughly $1,000 a year here. Together those add about $413 to the monthly payment before any HOA dues or PMI.

Alaska's median household income is about $89,000, or $7,417 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,077 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Alaska sell in about 40 days on average.

Frequently asked questions

What is a typical mortgage payment in Alaska?
On the state's roughly $370,000 median home with 20% down, the loan is about $296,000. Principal and interest depend on your rate; on top of that, Alaska's 1.07% effective property tax rate and about $1,000 a year in homeowners insurance add roughly $413 per month to the payment.
How much are property taxes on a home in Alaska?
Alaska's effective property tax rate averages about 1.07% of market value — roughly $3,959 a year on the $370,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Alaska?
The average Alaska homeowners policy runs about $1,000 a year. Alaska charges no statewide sales tax, so a car purchase is taxed only where a local borough adds one. Property taxes are middling and concentrated in the Anchorage and Fairbanks areas.
Can I afford a home in Alaska on the median income?
Alaska's median household income is about $89,000 a year, or $7,417 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,077 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Alaska?
A for-sale home in Alaska spends about 40 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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