Average Rent in Lake and Peninsula Borough, AK↑ Rents rising 3.5% YoY🔻 2nd cheapest in AK
HUD FY2025 · Official government data · Updated annually · Metro pop. 1,007
Market Overview
Lake and Peninsula Borough, AK has rental prices ranging from $693/month to $1,533/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $826/month — 41% below the national average of $1,400/month. With a median household income of $64,000/year, spending $826/month on a 1-bedroom represents 15% of gross income — within the recommended 30% threshold.
How Lake and Peninsula Borough Compares
With an average 2-bedroom rent of $970/month, Lake and Peninsula Borough ranks #33 most expensive of the 34 cities tracked in Alaska — pricier than 59% of all US cities in our data.
The Lake and Peninsula Borough Rental Market
The Lake and Peninsula Borough, AK area has a population of about 1,007 and 39% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.
Rent Trends
2-bedroom rents in Lake and Peninsula Borough, AK have risen by $33/month (3.5%) over the past year, from $937 to $970. This modest growth is consistent with broader inflationary trends seen across US rental markets.
Affordability
To afford a 1-bedroom apartment in Lake and Peninsula Borough, AK without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $33,040. The local median household income of $64,000 exceeds that threshold by $30,960, making Lake and Peninsula Borough relatively accessible compared to local wages.
Economy & Jobs
Lake and Peninsula Borough, AK has an unemployment rate of 4.3%, 0.4 percentage points above the national average of 3.9%. A higher unemployment rate can moderate rental demand over time, which may help keep rent growth in check compared to tighter job markets.
Fair Market Rents
HUD FY2025Is Lake and Peninsula Borough, AK Affordable?
Income needed to rent or buy, price history, and how this city compares to nearby metros.
Affordability Index(30% income rule)
Nearby Cities in AKlargest metros in the state
| City | Studio | 1BR | 2BR | 3BR | Home Value |
|---|---|---|---|---|---|
| Anchorage | $1,089 | $1,191 | $1,563 | $2,190 | — |
| Matanuska | $1,019 | $1,055 | $1,384 | $1,939 | — |
| Fairbanks | $1,144 | $1,272 | $1,669 | $2,339 | — |
| Kenai Peninsula Borough | $943 | $949 | $1,245 | $1,745 | — |
| Juneau City and Borough | $1,202 | $1,336 | $1,753 | $2,456 | — |
| Bethel Census | $1,640 | $1,650 | $1,900 | $2,289 | — |
Rent or Buy in Lake and Peninsula Borough?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real Lake and Peninsula Borough data
Buying breaks even after 5 years — worth it if you stay 5+ years.
Living in Lake and Peninsula Borough
Cost of living, job market, crime rates, and moving cost estimates.
Moving Cost Estimator
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Frequently Asked Questions
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Compare rent & home prices by neighborhood
💵Rent Affordability in Lake and Peninsula BoroughSalary needed to afford rent here
🗺️All Cities in AKSee how Lake and Peninsula Borough ranks statewide
⚖️Compare Lake and Peninsula BoroughSide-by-side rent & cost of living with any city
📋AK Tenant RightsDeposit limits, eviction laws & renters protections