Average Rent in Prince of Wales, AK↑ Rents rising 0.7% YoY🔻 4th cheapest in AK
HUD FY2025 · Official government data · Updated annually · Metro pop. 5,730
Market Overview
Prince of Wales, AK has rental prices ranging from $873/month to $1,445/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $946/month — 32% below the national average of $1,400/month. With a median household income of $59,079/year, spending $946/month on a 1-bedroom represents 19% of gross income — within the recommended 30% threshold.
How Prince of Wales Compares
With an average 2-bedroom rent of $1,048/month, Prince of Wales ranks #31 most expensive of the 34 cities tracked in Alaska — pricier than 70% of all US cities in our data.
The Prince of Wales Rental Market
The Prince of Wales, AK area has a population of about 5,730 and 28% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.
Rent Trends
2-bedroom rents in Prince of Wales, AK have risen by $7/month (0.7%) over the past year, from $1,041 to $1,048. Rents have remained relatively stable year over year, indicating a balanced rental market in the area.
Affordability
To afford a 1-bedroom apartment in Prince of Wales, AK without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $37,840. The local median household income of $59,079 exceeds that threshold by $21,239, making Prince of Wales relatively accessible compared to local wages.
Fair Market Rents
HUD FY2025Is Prince of Wales, 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 Prince of Wales?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real Prince of Wales data
Buying breaks even after 3 years — worth it if you stay 3+ years.
Living in Prince of Wales
Cost of living, job market, crime rates, and moving cost estimates.
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Frequently Asked Questions
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💵Rent Affordability in Prince of WalesSalary needed to afford rent here
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