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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 5,422 people, 1,768 houses or apartments, and a median cost of homes of $529,904, Kodiak real estate is some of the most expensive in Alaska, although Kodiak home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Kodiak, accounting for 48.29% of the city's housing units. Other types of housing that are prevalent in Kodiak include large apartment complexes or high rise apartments ( 28.09%), duplexes, homes converted to apartments or other small apartment buildings ( 16.44%), and a few row houses and other attached homes ( 4.51%).
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 ( 28.65%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.87%).
Vacant housing appears to be an issue in Kodiak. Fully 16.96% 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'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 5.16%, which is lower than 80% of US communities.
Appreciation rates are so strong in Kodiak that despite a nationwide downturn in the housing market, Kodiak real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kodiak appreciation rates continue to be some of the highest in America, at 8.53%, which is higher than appreciation rates in 75.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kodiak. Kodiak appreciation rates in the latest quarter were at 9.08%, which equates to an annual appreciation rate of 41.56%.
Importantly, this makes Kodiak one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alaska, our data show that Kodiak's latest annual appreciation rate is higher than 90% of the other cities and towns in Alaska.
$529,904
for Alaska
for nation
1,768
$2,332 / per month