The Most Affordable Neighborhoods in Lake and Peninsula Borough, AK by Home Value

These days, finding an affordable place to live in the Lake and Peninsula Borough area can be challenging. Home prices in Lake and Peninsula Borough are now at a median cost of $237,500, lower than the Alaska average of $346,273.

The average cost of rent is $936/mo in Lake and Peninsula Borough, primarily driven by the current value of real estate in the Lake and Peninsula Borough area. In Lake and Peninsula Borough, 34.57% of households rent, and 71.70% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Lake and Peninsula Borough is $5,469 per month. Households that rent pay about 17.12% of their income on rent here. Lake and Peninsula Borough’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the county.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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