Is it cheaper to live in Anchorage or Milwaukee?

Milwaukee, WI is cheaper. Its monthly baseline of $1,040 (1BR rent + utilities) runs about 21% below Anchorage, AK's $1,320, mainly because of rent.

How much more do you need to earn to live in Anchorage than in Milwaukee?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $42,000 a year in Anchorage versus $34,000 in Milwaukee.

Which has lower taxes, Anchorage or Milwaukee?

Anchorage is taxed under Alaska's rules (no state income tax and no state sales tax); Milwaukee under Wisconsin's (a top state income tax rate of 7.65% and a 5% state sales tax).

Anchorage vs Milwaukee Cost of Living 2026

Anchorage

Alaska

$1,320/mo est.

Milwaukee

Wisconsin

$1,040/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,320 in Anchorage, AK versus $1,040 in Milwaukee, WI. Overall, Milwaukee, WI is roughly 21% cheaper to live in day-to-day than Anchorage, AK, driven mainly by rent.

Median household income is $98,152 in Anchorage, AK and $51,888 in Milwaukee, WI — about 47% higher in Anchorage, AK. Alaska has no state income tax and no state sales tax; Wisconsin has a top state income tax rate of 7.65% and a 5% state sales tax.

Anchorage, AK

Milwaukee, WI

Rent

Studio

$1,001

$841

+16% in Anchorage, AK

1 Bedroom

$1,052

$849

+19% in Anchorage, AK

2 Bedroom

$1,433

$1,031

+28% in Anchorage, AK

3 Bedroom

$1,952

$1,193

+39% in Anchorage, AK

Buying a Home

Median Home Value

$375,900

$172,000

+54% in Anchorage, AK

Income

Median Household Income

$98,152

$51,888

+47% in Anchorage, AK

Metro Median Wage (annual)

$60,200

$51,160

+15% in Anchorage, AK

People & Lifestyle

Median Age

34.9 yr

32.2 yr

+2.7 yr in Anchorage, AK

Homeownership

63.7%

41.5%

+22.2 pp in Anchorage, AK

Bachelor's+ (25+)

37.7%

26.6%

+11.1 pp in Anchorage, AK

Avg Commute

19.0 min

22.4 min

+3.4 min in Milwaukee, WI

Crime (per 100k/yr)

Violent Crime

1,016.5

1,452.3

+43% in Milwaukee, WI

Property Crime

2,796.2

2,772.2

+1% in Anchorage, AK

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

37.4°F

47.9°F

+10.5°F in Milwaukee, WI

Annual Precipitation

17.9 in

34.8 in

+16.8 in in Milwaukee, WI

Gas

Regular Gasoline

$5.09/gal

$3.94/gal

+23% in Anchorage, AK

Area: West Coast (PADD 5) vs Midwest (PADD 2).

Public Transit

Base Fare (one-way)

—

$2.25

Adult base one-way fare — — vs MCTS (2026).

Utilities

Electricity (¢/kWh)

28.2

19.7

+30% in Anchorage, AK

Natural Gas ($/MCF)

$14.40

$11.79

+18% in Anchorage, AK

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

Groceries

Milk (gal)

$4.82

$4.31

+10% in Anchorage, AK

Bread (lb)

$2.04

$1.66

+19% in Anchorage, AK

Eggs (doz)

$2.19

$3.63

+66% in Milwaukee, WI

Ground Beef (lb)

$7.36

$6.77

+8% in Anchorage, AK

Chicken (lb)

$2.01

$2.10

+4% in Milwaukee, WI

Bananas (lb)

$0.70

$0.62

+12% in Anchorage, AK

Average prices — West vs Midwest (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (AK / WI)

None

+5.0 pp in WI

Income Tax (top rate)

None

7.65%

+7.7 pp in WI

Anchorage vs Milwaukee — FAQ

Is it cheaper to live in Anchorage or Milwaukee?: Milwaukee, WI is cheaper. Its monthly baseline of $1,040 (1BR rent + utilities) runs about 21% below Anchorage, AK's $1,320, mainly because of rent.
How much more do you need to earn to live in Anchorage than in Milwaukee?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $42,000 a year in Anchorage versus $34,000 in Milwaukee.
Which has lower taxes, Anchorage or Milwaukee?: Anchorage is taxed under Alaska's rules (no state income tax and no state sales tax); Milwaukee under Wisconsin's (a top state income tax rate of 7.65% and a 5% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).