Is Anchorage expensive to live in?

Anchorage is around the middle of the 112 US cities we track. Its one-bedroom rent of $1,052 per month ranks #60 of 112 and is about the same as the $1,080 median.

What is the average rent in Anchorage?

Average rent in Anchorage, AK runs a studio around $1,001, a one-bedroom around $1,052, a two-bedroom around $1,433, a three-bedroom around $1,952 per month (US Census ACS).

How much do you need to earn to live in Anchorage?

To keep a one-bedroom rent of $1,052 near the recommended 30% of gross income, you'd want to earn roughly $42,000 a year. The median household income here is $98,152.

How much does it cost to live in Anchorage per month?

A rough monthly baseline for one person in Anchorage is about $1,320 — one-bedroom rent plus typical residential electricity and heating. It excludes food, transport, and healthcare, so a full budget is higher.

Cost of Living in Anchorage, AK

Population 289,069 · Alaska

~$1,320/mo est.1BR $1,052Home $375,900

Photo: Yuhan Du / Unsplash

Compare with:

The cost of living in Anchorage, AK is driven mostly by housing. A one-bedroom apartment rents for around $1,052 a month — about the same as the $1,080 median across the 112 large US cities we track. Studios average $1,001 and two-bedrooms $1,433.

Median household income here is $98,152, 41% higher than the $69,423 median of the cities we track. Adding typical electricity and heating to one-bedroom rent, a rough monthly baseline for one person is about $1,320 before food and transport. Alaska has no state income tax and no state sales tax.

Rent1BR $1,052

Studio

$1,001

1 Bedroom

$1,052

2 Bedroom

$1,433

3 Bedroom

$1,952

Buying a Home$375,900

Median Home Value

$375,900

Income$98,152

Median Household Income

$98,152

Metro Median Wage (annual)

$60,200

Household income: Census ACS, city. Metro median wage: BLS OEWS, all occupations, 2025 (metro area).

GroceriesWest

Milk (gal)

$4.82

Bread (lb)

$2.04

Eggs (doz)

$2.19

Ground Beef (lb)

$7.36

Chicken (lb)

$2.01

Bananas (lb)

$0.70

Average prices, West (BLS, 2026-07-01). Regional where available, otherwise U.S. average.

Utilities28.2¢/kWh

Electricity

28.2¢/kWh

Natural Gas

$14.40/MCF

Residential, state-level averages (EIA, 2026-05-01). MCF = 1,000 cubic feet.

Gas$5.09/gal

Regular Gasoline (West Coast (PADD 5))

$5.09/gal

EIA weekly retail average, week of 2026-08-17.

State Taxes (AK)No sales tax

State Sales Tax

None

State Income Tax (top rate)

None

State-level rates. Local sales taxes may add more. Income tax shown is the top marginal rate; most filers pay less.

Crime1,016.5 violent

Violent Crime (per 100k/yr)

1,016.5

Property Crime (per 100k/yr)

2,796.2

FBI Crime Data Explorer, Anchorage Police Department (2024). Offenses per 100,000 residents per year. Agency reporting practices vary, so cross-city comparisons are approximate.

People & LifestyleAge 34.9 yrs

Median Age

34.9 yrs

Homeownership

63.7%

Bachelor's+ (25+)

37.7%

Avg Commute

19.0 min

Climate37.4°F

Avg Annual Temperature

37.4°F

Annual Precipitation

17.9 in

Anchorage cost of living — FAQ

Is Anchorage expensive to live in?: Anchorage is around the middle of the 112 US cities we track. Its one-bedroom rent of $1,052 per month ranks #60 of 112 and is about the same as the $1,080 median.
What is the average rent in Anchorage?: Average rent in Anchorage, AK runs a studio around $1,001, a one-bedroom around $1,052, a two-bedroom around $1,433, a three-bedroom around $1,952 per month (US Census ACS).
How much do you need to earn to live in Anchorage?: To keep a one-bedroom rent of $1,052 near the recommended 30% of gross income, you'd want to earn roughly $42,000 a year. The median household income here is $98,152.
How much does it cost to live in Anchorage per month?: A rough monthly baseline for one person in Anchorage is about $1,320 — one-bedroom rent plus typical residential electricity and heating. It excludes food, transport, and healthcare, so a full budget is higher.

Compare Anchorage with nearby cities

Anchorage vs Seattle Anchorage vs Tacoma Anchorage vs Portland Anchorage vs Salem Anchorage vs Spokane Anchorage vs Eugene

Nearby cities

Seattle, WA 1435 mi Tacoma, WA 1450 mi Portland, OR 1540 mi Salem, OR 1562 mi Spokane, WA 1580 mi Eugene, OR 1612 mi

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981-2010 (climate); EIA (gas, utilities); BLS Average Price Data (groceries) & OEWS (metro wage); transit agencies (fares); FBI Crime Data Explorer (crime); Tax Foundation 2026 (state taxes). Monthly estimate = 1BR rent + utilities; not a full cost of living.