KODIAK — The annual state survey of the most expensive places to rent an apartment in Alaska has found the Kodiak Island Borough in a familiar spot — at the top.
According to the survey in this month’s issue of Alaska Economic Trends magazine, the average monthly rent for an apartment in Kodiak is $1,088. That’s $77 more than the state average of $1,011 and $29 more than the No. 2 borough, Anchorage.
The average rent for a one-bedroom apartment in Kodiak was $830, a two-bedroom was $1,221 and a three-bedroom was $1,420.
The information was collected in March and the study was written by economists Rob Kreiger and Caroline Schultz.
Kodiak has had the most expensive average rent in the state since 2009, when it outpaced the Valdez-Cordova Census Area, $1,039 to $1,036.
Kodiak also had the most expensive average rent in 1999 and 2000.
According to the study, part of the reason for Kodiak’s high prices comes from its low apartment vacancy rate.
“Greater numbers of tenants competing for limited available units may drive up costs due to increased demand,” the survey states.
Only seven of 343 Kodiak apartments in the survey were vacant when measurements were taken, equaling 2 percent. The Valdez-Cordova area, which had the fourth-highest average rent, had the lowest vacancy rate, 1.2 percent.
Trevor Brown, executive director of the Kodiak Chamber of Commerce, was unavailable for comment Thursday, but in an interview with KMXT radio, he said the large number of Coast Guard personnel who receive a housing allowance is another contributor to Kodiak’s high rental prices.