Anchorage, AK Cost Of Living
Cost Of Living In Anchorage, AK Summary
Cost of living in Anchorage research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Anchorage is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Alaska, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Anchorage is 130, with 100 being the average.
The cost of living index in Anchorage is 1.3x higher than the national average.
Anchorage ranks as the #14 cheapest in Alaska out of 22.
Anchorage ranks as the #5,259 cheapest out of 6,412 in the US.
The median home value in Anchorage is $327,500.
The median income in Anchorage is $88,871.
Table Of Contents
Anchorage's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Anchorage, AK?
According to the most recent data on the cost of living, Anchorage has an overall cost of living index of 130, which is 1.3x higher than the national index of 100.
Compared to Alaska, Anchorage has a cost of living index that's 1.0x higher than Alaska's index of 125.
The standard of living in Anchorage ranks as #14 most affordable out of the 22 places we measured in Alaska. By definition, that implies Anchorage ranks as the #8 most expensive place in the Last Frontier.
For more reading on life in Anchorage, check out:
- Living In Anchorage
- Anchorage Crime Report
- Search Homes For Sale In Anchorage, AK
In Alaska
In America
Anchorage Cost Of Living Vs. Alaska
Six factors go into calculating the cost of living index in Anchorage. Here is how it fairs on each of the criteria:
The Services index in Anchorage is 114.
The Groceries index in Anchorage is 128.
The Health index in Anchorage is 148.
The Housing index in Anchorage is 154.
The Transportation index in Anchorage is 110.
The Utilities index in Anchorage is 127.
| Living Expense | Anchorage | Alaska | National Average | |
|---|---|---|---|---|
| Overall | 130 | 125 | 100 | |
| Services | 114 | 119 | 100 | |
| Groceries | 128 | 129 | 100 | |
| Health | 148 | 152 | 100 | |
| Housing | 154 | 119 | 100 | |
| Transportation | 110 | 119 | 100 | |
| Utilities | 127 | 147 | 100 | |
Anchorage, AK Housing Cost Breakdown
Housing swings affordability the most between places in Alaska, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Anchorage is $327,500.
The Median Rent in Anchorage is $1,350.
The Median Income in Anchorage is $88,871.
The Home Value To Income in Anchorage is 3.7x.
The Rent To Monthly Income in Anchorage is 0.18x.
| Statistic | Anchorage | Alaska | United States |
|---|---|---|---|
| Median Home Value | $327,500 | $282,800 | $244,900 |
| Median Rent | $1,350 | $1,279 | $1,163 |
| Median Income | $88,871 | $80,287 | $69,021 |
| Home Value To Income | 3.7x | 3.5x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Anchorage, AK Costs By Category
Detailed Anchorage Services Costs Vs. Alaska
Detailed Anchorage Groceries Costs Vs. Alaska
Detailed Anchorage Health Costs Vs. Alaska
Detailed Anchorage Transportation Costs Vs. Alaska
Detailed Anchorage Utilities Costs Vs. Alaska
Anchorage SnackAbility
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