Chicago, IL vs Anchorage, AK
Cost of living comparison · 2023 Census ACS data
Quick Summary
On the headline indicators, Chicago and Anchorage are closely matched markets (homes within 16% of each other). Distinguishing the two usually requires looking past the cost averages — at the tax structure, commute patterns, and individual neighborhood differences. Anchorage also has no state income tax, while the other state tops out at 5.0% — a meaningful annual difference at higher income levels.
Median Home Value
$315,200 ✓
$375,900
Zillow Home Value
$312,456
$405,600
Median Gross Rent
$1,380/mo ✓
$1,453/mo
Owner Occupied %
45.5%
63.7%
Price-to-Rent Ratio
19.0x
21.6x
Median Household Income
$75,134
$98,152 ✓
Per Capita Income
$48,148
$49,338
Unemployment Rate
7.9%
4.6% ✓
Poverty Rate
16.8%
9.3%
Avg Commute (min)
36.7 min
20.5 min
Drove Alone %
46.0%
71.0%
Public Transit %
19.3%
1.4%
Work From Home %
18.3%
9.6%
State Income Tax
5.0%
None
Total Sales Tax
8.7%
1.8% ✓
Property Tax Rate
2.2%
1.0%
Bachelor's Degree %
24.9%
23.4%
Median Age
35.7
34.9
Avg High Temp
60.3°F
—
Annual Precipitation
34.4"
18.9"
Chicago, IL 2 wins
- ✓Median Home Value
- ✓Median Gross Rent
Anchorage, AK 3 wins
- ✓Total Sales Tax
- ✓Median Household Income
- ✓Unemployment Rate
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