Kodiak, AK Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Kodiak, AK Housing Market Trends

With a population of 5,813, 1,863 total housing units (homes and apartments), and a median house value of $328,119, Kodiak real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Kodiak, accounting for 48.50% of the city's housing units. Other types of housing that are prevalent in Kodiak include large apartment complexes or high rise apartments ( 30.56%), duplexes, homes converted to apartments or other small apartment buildings ( 17.57%), and a few row houses and other attached homes ( 2.03%).

People in Kodiak primarily live in small (one, two or no bedroom) single-family detached homes. Kodiak has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Kodiak built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Kodiak built between 1940-1969 ( 29.36%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.76%). There's also some housing in Kodiak built before 1939 ( 1.16%).

Vacant housing appears to be an issue in Kodiak. Fully 13.87% of the housing stock is classified as vacant. Left unchecked, vacant Kodiak homes and apartments can be a drag on the real estate market, holding Kodiak real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Kodiak Home Appreciation Rates

Kodiak's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Kodiak during the period has been just 2.74%, which is lower than 70% of US communities.

Over the last year, Kodiak appreciation rates have trailed the rest of the nation. In the last twelve months, Kodiak's appreciation rate has been 4.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kodiak were at 2.60%, which equates to an annual appreciation rate of 10.82%.

Relative to Alaska, our data show that Kodiak's latest annual appreciation rate is lower than 60% of the other cities and towns in Alaska.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Kodiak differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kodiak - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Kodiak real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$328,119

Kodiak, AK HOME PRICES

> $1,131,000
0.0%
0.0%
$848,001 - $1,131,000
0.0%
0.0%
$566,001 - $848,000
4.4%
4.4%
$452,001 - $566,000
17.2%
17.2%
$339,001 - $452,000
16.6%
16.6%
$226,001 - $339,000
38.9%
38.9%
$113,001 - $226,000
17.4%
17.4%
$57,001 - $113,000
2.1%
2.1%
$0 - $57,000
3.6%
3.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for AK

Value Relative To Nation

Number Of Homes And Apartments:
1,863

Kodiak Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
108.07% 3.47%
7
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,840 / per month

Homeownership Rate

Owners
48.6%
48.6%
Renters
51.4%
51.4%
Vacant
13.9%
13.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.8%
4.8%
1970 - 1999
64.7%
64.7%
1940 - 1969
29.4%
29.4%
1939 or Older
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.5%
48.5%
Townhomes
2.0%
2.0%
Small Apt. Buildings
17.6%
17.6%
Apt. Complexes
30.6%
30.6%
Mobile Homes
1.3%
1.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.3%
4.3%
1 Bedroom
19.1%
19.1%
2 Bedrooms
31.1%
31.1%
3 Bedrooms
28.0%
28.0%
4 Bedrooms
14.6%
14.6%
5 or more bedrooms
2.9%
2.9%
0.0% 100.0%
% OF HOMES

Popular Communities Near Kodiak, AK

Zip Codes in Kodiak, AK