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Nome Census Area, AK

Rent vs Own in Nome Census Area, Alaska

Owning the median home in Nome Census Area clears the monthly bar: about $1,402/mo versus HUD's $1,533/mo 2-bedroom rent. The stack below shows which line items create that edge. Owner-occupied homes: 1,882.

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Buying is cheaper in Nome Census Area

Owning runs about $1,402/mo here, under $1,533/mo to rent a comparable 2-bedroom. That is a $131/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Nome Census Area

Primary driver

The tax rate is a national headwind

Nome Census Area's 1.55% effective rate is among the highest of 3,135 tracked counties: only about 91% pay more. Treat that recurring tax line separately from principal and interest.

Decision signal 2

Income supports the median purchase price

Median household income is $78,681, and the 2.7x home-price-to-income ratio leaves room for the ownership stack (property tax alone is 4.1% of median income). The monthly gap above is more about mortgage rate and insurance assumptions than about the purchase price being out of reach.

Decision signal 3

The county sits near the state middle

Using the assumptions above, Nome Census Area ranks 8 of 28 Alaska counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 20 other Alaska counties on this measure.

Decision signal 4

HUD moved the rent benchmark up

HUD raised its 2-bedroom Fair Market Rent for Nome Census Area from $1,477/mo in FY2025 to $1,533/mo in FY2026: it increased by $56/mo (+3.8%). A rising rent benchmark widens the gap in favour of owning over time, because the mortgage share of the ownership cost below is fixed at origination while the rent it is compared against reprices every year.

Decision signal 5

Owning clears the monthly bar here

Nome Census Area's median home ($211,200) carries $3,264/yr in property tax at 1.55%. Under a 20% down, 6.5%, 30-year stack the all-in ownership bill is about $1,402/mo, which undercuts HUD's $1,533/mo 2-bedroom Fair Market Rent by roughly $131/mo before maintenance, HOA, or closing costs.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$1,402
Mortgage (P&I) $1,068
Property Tax $272
Insurance (est.) $62
Monthly Rent (2-BR FMR)
$1,533
Studio$1,227
1-Bedroom$1,334
2-Bedroom$1,533
3-Bedroom$2,132
4-Bedroom$2,525

Adjust Your Scenario

Affordability Context

Median Household Income
$78,681
$6,557/mo
Home Price / Income
2.7x
Affordable (≤3x)
Tax-to-Income Ratio
4.1%
National benchmark: 2-4%

Who actually pays it here

Even with the loan gone, the largest group of Nome Census Area owners still owes $3,000 or more every year - a recurring holding cost of a few hundred dollars a month, which is why "paid off" understates the real cost of keeping property here.

Nome Census Area matches the national pattern: six-figure earners between $100,000 and $200,000 account for more of these write-offs than any other local group.

Against that holding-cost profile, the monthly ownership stack already undercuts HUD rent here, so the long-run tax bill is an ownership feature more than a reason to keep renting.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

Anchorage Municipality
Home: $395,900 Tax: $4,982/yr
Matanuska-Susitna Borough
Home: $346,600 Tax: $3,685/yr
Fairbanks North Star Borough
Home: $298,200 Tax: $3,550/yr
Kenai Peninsula Borough
Home: $323,200 Tax: $2,049/yr
Juneau City and Borough
Home: $449,300 Tax: $4,251/yr
Ketchikan Gateway Borough
Home: $393,300 Tax: $2,619/yr

Frequently Asked Questions

What is the average rent in Nome Census Area? ▼
HUD prices a 2-bedroom unit at $1,533/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $1,298/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
Is it cheaper to rent or buy in Nome Census Area, Alaska? ▼
On the standard 20%-down / 6.5% stack, owning the median Nome Census Area home undercuts HUD's 2-bedroom rent by about $131/mo. Change the down payment, rate, or time horizon in the calculator and that gap can flip - owning also builds equity that rent never does.
How much house can you afford in Nome Census Area? ▼
On the common 3x-income guideline, a $78,681 household here can afford up to $236,043, which comfortably covers this county's $211,200 median home price -- a healthier affordability picture than many of the counties tracked on this site.
What is the median home price in Nome Census Area? ▼
$211,200, per the Census Bureau's ACS 5-Year Estimates. What stands out more than the price itself is the tax load on it: this county's 1.55% effective rate sits near the high end of the 3,135 counties tracked here.
How does Nome Census Area compare to other Alaska counties for renting vs buying? ▼
Out of 28 Alaska counties ranked here on buy-vs-rent value, Nome Census Area lands at spot 8, roughly in the middle of the pack statewide. The <a href="/states/alaska">Alaska state page</a> lists every peer county's tax bill beside this one.
Is rent going up or down in Nome Census Area? ▼
HUD's 2-bedroom Fair Market Rent figure has risen 3.8% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →