Kodiak Island Borough Real Estate and Livability Trends
Kodiak Island Borough, Alaska, presents an intriguing real estate landscape marked by a consistent rise in average taxable income, from $56,107.67 in 2013 to $78,662.94 in 2021, underscoring increasing financial viability. Home values have shot up dramatically from $245,400 in 2015 to $355,000 in 2022, outstripping state and national growth rates. However, the surge in local and state taxes,... Read more
Kodiak Island Borough Market Trends
Kodiak Island Borough, Alaska has seen a stark rise in median home values from $245,400 in 2015 to $355,000 in 2022, outpacing both state and national trends. The average residential energy tax credit per tax return spiked significantly in 2021 to $1,200.00, indicating potential new incentives or policy shifts. Real estate taxes have climbed notably, from $3,690.51 in 2012 to about $5,375.00 by... Read more
Median Value of Occupied Housing Units in Kodiak Island Borough, Alaska Over the Last 8 Years
Kodiak Island Borough, Alaska has experienced a pronounced upward trend in median home values over the last 8 years, increasing from $245,400 in 2015 to $355,000 in 2022. This local growth outpaces both state and national trends, with Alaska's median home values rising from $250,000 to $318,000 over the same period, and national figures moving from $125,500 to $179,400. For those looking to invest in or move to Kodiak Island Borough, understanding these dynamics could suggest strong local economic factors or housing demand driving up property values, offering a potentially lucrative opportunity for investors and developers.
Residential Energy Tax Credit Per Tax Return in Kodiak Island Borough, AK Over the Last 7 Years
Kodiak Island Borough, Alaska has seen fluctuations in the average residential energy tax credit per tax return over the past seven years. Notably, there was a sharp increase in 2021, with the average credit hitting $1,200.00, a significant jump from the relatively stable figures around $300.00 to $400.00 in previous years. This spike could indicate new incentives or changes in energy policies that might be attractive for homeowners and investors focused on energy efficiency.
Average Real Estate Taxes Per Tax Return in Kodiak Island Borough, AK Over the Last 10 Years
Kodiak Island Borough, Alaska, has seen a notable upward trend in average real estate taxes per tax return over the past decade. From about $3,690.51 in 2012, the average has increased to approximately $5,375.00 by 2021. The sharpest rise occurred between 2017 and 2018, shooting up to $5,183.78 from $4,103.85 the year before. This data indicates a general trend upwards with some variability, suggesting increasing property values or changing tax rates, which could impact both investment decisions and the cost of living for residents.
Percentage of Farm Returns in Kodiak Island Borough, AK Over the Last 8 Years
Farm tax returns in Kodiak Island Borough, Alaska have shown a slight and fluctuating trend over the last eight years, representing a minimal percentage of total tax returns filed. In 2012, 0.42% of tax returns were farm-related, dipping to 0.28% in 2013, and then rising again to 0.43% in 2014. For those considering investing, moving, or building property in the area, this data suggests a relatively stable, yet minor agricultural presence. Moderate increases were seen from 2019 to 2021, with percentages hovering around 0.30% to 0.35%, indicating a subtle rise in farm tax activities in recent years. Understanding this trend is crucial for investors and residents who are keen on the agricultural sector's impact on the local economy.
Number of Mortgages by Occupancy Type in Kodiak Island Borough, AK Over the Last 5 Years in Kodiak Island Borough
In Kodiak Island Borough, Alaska, the trend over the past five years shows that mortgages for principal residences significantly outnumber those for investment and second properties. From 2018 to 2022, there is a noticeable fluctuation with a peak in principal residence mortgages in 2020, reaching 643, and a decline to 315 in 2022. Investment properties have seen a substantial decrease, from 49 in 2021 to 21 in 2022. The relatively low and stable numbers for second residences suggest limited interest in this category. For investors, this shift might indicate varying levels of demand and indicate potential opportunities in the primary housing market. Appraisers and real estate agents could find these patterns impactful when evaluating property values and market trends. Lower numbers in investment properties might signal shifts in rental market potential, affecting future developments or investments. Insurance agents might see these trends as indicative of the risk profile for predominantly single-family residences versus rental properties.
Economic Outlook
Kodiak Island Borough, Alaska has witnessed a steady climb in average taxable income per tax return, rising from $56,107.67 in 2013 to $78,662.94 in 2021, with the most pronounced jump occurring between 2020 and 2021. This boost in income signals a potentially attractive financial landscape for prospective residents. However, state and local income taxes have seen notable fluctuations, hitting a low of $750.00 in 2020 and spiking to $2666.67 in 2021, which is a variable factor prospective... Read more
Average Taxable Income per Tax Return in Kodiak Island Borough, AK over the last 9 years
Kodiak Island Borough, AK has seen a consistent upward trajectory in average taxable income per tax return over the past nine years, with a notable increase from $56,107.67 in 2013 to $78,662.94 in 2021. The most significant year-over-year growth occurred between 2020 and 2021, reflecting a robust economic factor that could attract potential residents seeking strong financial opportunities.
Average State and Local Income Taxes Per Tax Return in Kodiak Island Borough, AK Over the Last 10 Years
Kodiak Island Borough, AK has seen fluctuating state and local income taxes per tax return over the past decade. The lowest point was in 2020 at $750.00, followed by a substantial spike in 2021 reaching $2666.67. This variability can be crucial for prospective residents considering the impact on their financial planning.
Average Total Tax Liability Per Tax Return in Kodiak Island Borough, AK Over the Last 10 Years
Over the past decade, Kodiak Island Borough, Alaska has seen fluctuating tax liabilities per tax return, hitting a high of $11,855.98 in 2021 and a low of $8,400.75 in 2018. Notably, the increases in total tax liability near the end of the decade could indicate economic growth or changes in tax policy impacting residents. Investors and potential property builders should be aware of these trends as they reflect the economic landscape and potential tax burdens in the area.
Cost of Living in Kodiak Island Borough
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,023 | $1,922 | $2,739 | $1,589 | $1,879 |
| 1 adult 4 children | $2,023 | $1,570 | $2,119 | $1,589 | $1,965 |
| 2 adults 3 children | $2,023 | $1,570 | $2,364 | $1,589 | $1,584 |
| 1 adult 3 children | $2,023 | $1,282 | $1,744 | $1,589 | $1,695 |
| 2 adults 2 children | $1,636 | $1,285 | $1,989 | $1,394 | $1,255 |
| 1 adult 2 children | $1,636 | $960 | $1,369 | $1,394 | $1,277 |
| 2 adults 1 child | $1,636 | $1,016 | $1,614 | $760 | $1,043 |
| 1 adult 1 child | $1,636 | $656 | $995 | $760 | $977 |
| 2 adults | $1,243 | $816 | $1,239 | $0 | $817 |
| 1 adult | $1,094 | $445 | $620 | $0 | $678 |
Safety trends & Data
In Kodiak Island Borough, Alaska, property crime trends over the past five years have shown a mixed bag with burglary and larceny-theft decreasing, while vandalism spiked in 2020 with 10.0 cases before dipping again. Notably, 2018 was a peak year for larceny-theft at 13.0 and motor vehicle theft at 6.0. These shifts offer crucial insights for real estate agents and investors, as the fluctuating crime rates could impact property values and insurance... Read more
Property Crime Trends in Kodiak Island Borough, AK Over the Last 5 Years
Over the last five years in Kodiak Island Borough, Alaska, there appears to be a steady fluctuation in property crime with burglary, larceny-theft, and motor vehicle theft each trending variably. Notably, 2018 witnessed higher instances of larceny-theft at 13.0 and motor vehicle theft at 6.0 compared to subsequent years. Vandalism incidents peaked in 2020 with 10.0 cases, then saw a decline. These trends provide valuable insights for real estate agents and investors, highlighting an overall decrease in burglary and larceny while vandalism remains a concern. This evolving crime landscape might influence property values and insurance rates.
Demographics
Kodiak Island Borough, Alaska shows a somewhat balanced gender demographic with males slightly outnumbering females. The predominant group by race is White, yet the area stands out with a significant representation of Asian and American Indian and Alaska Native populations. Educational attainment appears varied; a considerable portion of the population holds a high school diploma or some college experience, but a strikingly smaller group has achieved a graduate or professional degree. The age... Read more
Race Distribution in Kodiak Island Borough, Alaska (2022)
Educational Attainment in Kodiak Island Borough, Alaska (2022)
Age Distribution in Kodiak Island Borough, Alaska
Citizen Population in Kodiak Island Borough, Alaska (2022)
School Data
In Kodiak Island Borough, Alaska, the student-to-teacher ratio has seen fluctuations between 2015 and 2023, peaking at 21 students per teacher in 2015 and 20 in 2019. By 2023, the ratio settled around 15 students per teacher, aligning more closely with the national average. These variations can influence the local real estate market, especially for families prioritizing educational quality, thereby impacting property demand and valuations. Real estate agents and investors might find this data... Read more
Student-to-teacher ratio in Kodiak Island Borough, Alaska over the last 10 years
Over the last decade in Kodiak Island Borough, Alaska, the student-to-teacher ratio has experienced notable fluctuations, deviating several times from the national average of fourteen students per teacher. Peaks were observed in 2015 and 2019 with ratios of 21 and 20 students per teacher respectively, indicating periods of significantly larger class sizes. By contrast, in 2023, the ratio normalized to approximately 15 students per teacher, aligning more closely with national figures. These shifts may impact local real estate markets, as families with school-age children often prioritize areas with favorable student-to-teacher ratios. Furthermore, larger discrepancies can influence appraisors' and insurance agents' evaluations, given the significant role of educational quality in community desirability and housing values. For real estate agents and prospective investors, understanding these trends is essential, as they directly affect demand, property values, and the broader allure of the area.
