The calculator is pre-filled for a $376,500 home (the Alaska median, ranked 21st of 51) with 20% down at 7.40%. That comes to $2,519.36 a month: $2,085.45 principal and interest, $332.58 tax, $101.33 insurance. With 5% down and PMI it is $3,059.42.
Homestead exemptions and property tax relief
State law requires municipalities to exempt the first $150,000 of assessed value for residents 65 and older and for disabled veterans (AS 29.45.030(e)). Municipalities may also offer an optional residential exemption of up to $50,000 for any owner-occupied home.
First-time buyer programs
Alaska Housing Finance Corporation's First Home loans serve buyers who have not owned a primary residence in three years. The standard version has no income or price limits. First Home Limited has income and price limits and may trigger federal recapture tax when you sell.
Transfer and recording taxes
Alaska has no state or local real estate transfer tax. A deed costs only the recording fee.
Closing costs to plan for
Closing costs are mostly lender, title and escrow fees. Rural homes may need a well and septic inspection, which takes extra time.
When property tax bills are due
Alaska has no statewide property tax on homes. The tax is levied by boroughs and cities, and each sets its own calendar. Anchorage usually mails bills around June 1, with the first half due June 30 and the second August 31, and it adds a 10% penalty after a seven-day grace period. The Matanuska-Susitna Borough bills July 1 and collects in August and February. Ketchikan Gateway Borough bills by July 1 and collects everything by September 30. Ask your closing agent which calendar applies before you set up escrow.
Before you buy in Alaska
Whether a home sits inside a city, a borough or neither changes the tax bill a great deal, so look up the parcel's taxing jurisdictions before you compare listings. The state-required exemption for seniors 65 and older and disabled veterans covers the first $150,000 of assessed value, but you apply locally and the deadline is set by each municipality: Wrangell's 2026 deadline, for example, was March 2. Some municipalities add optional exemptions of up to $50,000 for owner-occupied homes, or increase the senior exemption, so ask the local assessor what applies.
2026 loan limit in Alaska
FHFA 2026 one-unit conforming limits: every county is high-cost, with a top limit of $1,249,125. A median-home loan of $301,200 is conforming.
Alaska numbers used above
| Measure | Alaska | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $376,500 | $360,600 |
| Effective property tax rate | 1.06% (16th highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $1,216 | $1,737 |
| Median household income | $95,665 | $81,604 |
| Median gross rent | $1,444 | $1,487 |
| Income needed at 28% (20% down) | $107,973 | – |
Frequently asked questions
Does Alaska have a state property tax on homes?
No. Boroughs and cities levy property tax, and each sets its own rates, exemptions and due dates.
When are property taxes due in Anchorage?
Usually in two halves, June 30 and August 31, after bills go out around June 1. A 10% penalty applies after a seven-day grace period.
Who qualifies for Alaska's $150,000 exemption?
Residents 65 and older, and disabled veterans with a service-connected disability rating of 50% or more, on their primary residence. Apply with the local assessor by its deadline.
What is the median-home payment in Alaska?
About $2,519.36 a month on a $376,500 home with 20% down at 7.40%, including tax and insurance.
Sources
- Alaska DCRA, property tax exemptions
- Municipality of Anchorage, property tax FAQ
- Alaska DCRA, property tax exemptions
- AHFC first-time loans
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Alaska paycheck