A typical Mill Bay home is worth roughly $479,000
Home prices around Mill Bay have risen about 25% over the past 5 years.
What kind of housing town is Mill Bay?
Read from the numbers below. The page puts what stands out first.
Home prices up 25% in 5 years
The federal house price index for the ZIP code around Mill Bay rose 25% over the past 5 years, slower than across Alaska (39%). Last year prices fell 4.7%. Carrying the Census median home value forward with that index puts the typical Mill Bay home at roughly $479,000 today.
Carrying the Census median forward with the index puts a typical home at about $479K.
How Mill Bay ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Mill Bay, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 5.4 years of income
More than across Alaska (4.3 years). Try your own numbers below.
That’s $134K short of a typical Mill Bay home.
A two-bedroom rents for about $2,090 a month here, $790 less than owning.
How Mill Bay ranks on affordability →
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Mill Bay’s typical property tax (0.92% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
83% of Mill Bay households own their home
Half of Mill Bay’s homes were built before 2000.
Alaska: 67% own.
U.S. Census Bureau, American Community Survey 2020-2024.
A two-bedroom rents for about $2,090
Renters already here pay a median of $2,710.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Kodiak Island Borough, AK): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Mill Bay vs. its neighbors
The towns that share a border with Mill Bay. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Mill Bay | $479K* | −4.7%† | $2,090 | — | $88,580 |
| Kodiak | $450K | +4.2% | $2,090 | 9 | $90,292 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Mill Bay buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.