Cost of Living in Anchorage, AK
Population 289,069 · Alaska · Data vintage 2023
(100 = US avg)
Most of Anchorage's cost indicators track within a reasonable band of national figures, with median household incomes near $98,152 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Anchorage
The median home value in Anchorage is $375,900 — 23% above the national median of $305,000. Median rent runs $1,453/month, 11% higher than the national median of $1,314/month. The median household income of $98,152/year is 32% higher than the US median of $74,580. The local unemployment rate is 4.6%, below the national average of 4.8%. Alaska charges no state income tax, a meaningful advantage for take-home pay. Overall, Anchorage has a cost of living index of 118 versus the US average of 100, meaning it is 18% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Anchorage, AK?
Anchorage has a cost index of 118 (100 = national average). It is 18% above the national average.
What is average rent in Anchorage, AK?
The median gross rent in Anchorage is $1,453 per month based on 2023 Census data.
What is the average home price in Anchorage?
The median home value in Anchorage is $375,900 according to Zillow and Census data.
What is the median income in Anchorage?
The median household income in Anchorage is $98,152 per year (2023 ACS 5-year estimates).
What is the sales tax in Anchorage, AK?
The combined state and local sales tax rate in Anchorage is 1.8%. Alaska has no state income tax.
Is Anchorage, AK affordable?
Anchorage is above average in cost of living, with an index of 118 — about 18% higher than the national average.
Anchorage at a Glance
- Population
- 289,069
- Median Income
- $98,152
- Home Value
- $375,900
- Median Rent
- $1,453/mo
- Unemployment
- 4.6%
- Sales Tax
- 1.8%
Nearby Cities
Compare Anchorage
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Alaska Rankings
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