Living Cost Compare
Anchorage

Alaska

$1,330/mo est.

vs
Missoula

Montana

$1,100/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,330 in Anchorage, AK versus $1,100 in Missoula, MT. Overall, Missoula, MT is roughly 17% cheaper to live in day-to-day than Anchorage, AK, driven mainly by electricity costs.

Median household income is $98,152 in Anchorage, AK and $65,329 in Missoula, MT — about 33% higher in Anchorage, AK. Alaska has no state income tax and no state sales tax; Montana has a top state income tax rate of 5.65% and no state sales tax.

Anchorage, AK
Missoula, MT

Rent

Studio
$1,001
$755
+25% in Anchorage, AK
1 Bedroom
$1,052
$953
+9% in Anchorage, AK
2 Bedroom
$1,433
$1,176
+18% in Anchorage, AK
3 Bedroom
$1,952
$1,676
+14% in Anchorage, AK

Buying a Home

Median Home Value
$375,900
$427,400
+14% in Missoula, MT

Income

Median Household Income
$98,152
$65,329
+33% in Anchorage, AK
Metro Median Wage (annual)
$60,200
$47,830
+21% in Anchorage, AK

People & Lifestyle

Median Age
34.9 yr
34.3 yr
+0.6 yr in Anchorage, AK
Homeownership
63.7%
47.8%
+15.9 pp in Anchorage, AK
Bachelor's+ (25+)
37.7%
51.7%
+14.0 pp in Missoula, MT
Avg Commute
19.0 min
16.6 min
+2.4 min in Anchorage, AK

Crime (per 100k/yr)

Violent Crime
1,016.5
601.9
+41% in Anchorage, AK
Property Crime
2,796.2
3,685.2
+32% in Missoula, MT

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
45.9°F
+8.5°F in Missoula, MT
Annual Precipitation
17.9 in
14.1 in
+3.8 in in Anchorage, AK

Gas

Regular Gasoline
$5.21/gal
$4.27/gal
+18% in Anchorage, AK

Area: West Coast (PADD 5) vs Rocky Mountain (PADD 4).

Utilities

Electricity (¢/kWh)
28.2
15.1
+46% in Anchorage, AK
Natural Gas ($/MCF)
$17.35
$10.12
+42% in Anchorage, AK

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

Groceries

Milk (gal)
$4.82
$4.82
about equal
Bread (lb)
$2.04
$2.04
about equal
Eggs (doz)
$2.19
$2.19
about equal
Ground Beef (lb)
$7.36
$7.36
about equal
Chicken (lb)
$2.01
$2.01
about equal
Bananas (lb)
$0.70
$0.70
about equal

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

State Taxes

Sales Tax (AK / MT)
None
None
about equal
Income Tax (top rate)
None
5.65%
+5.7 pp in MT

Anchorage vs Missoula — FAQ

Is it cheaper to live in Anchorage or Missoula?
Missoula, MT is cheaper. Its monthly baseline of $1,100 (1BR rent + utilities) runs about 17% below Anchorage, AK's $1,330, mainly because of electricity costs.
How much more do you need to earn to live in Anchorage than in Missoula?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $42,000 a year in Anchorage versus $38,000 in Missoula.
Which has lower taxes, Anchorage or Missoula?
Anchorage is taxed under Alaska's rules (no state income tax and no state sales tax); Missoula under Montana's (a top state income tax rate of 5.65% and no 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).