Living Cost Compare
Anchorage

Alaska

$1,320/mo est.

vs
Salt Lake City

Utah

$1,300/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 $1,300 in Salt Lake City, UT. Overall, Salt Lake City, UT is roughly 2% 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 $74,925 in Salt Lake City, UT — about 24% higher in Anchorage, AK. Alaska has no state income tax and no state sales tax; Utah has a top state income tax rate of 4.50% and a 6.1% state sales tax.

Rent

Studio
$1,001
$997
+0% in Anchorage, AK
1 Bedroom
$1,052
$1,166
+11% in Salt Lake City, UT
2 Bedroom
$1,433
$1,461
+2% in Salt Lake City, UT
3 Bedroom
$1,952
$1,993
+2% in Salt Lake City, UT

Buying a Home

Median Home Value
$375,900
$495,700
+32% in Salt Lake City, UT

Income

Median Household Income
$98,152
$74,925
+24% in Anchorage, AK
Metro Median Wage (annual)
$60,200
$55,240
+8% in Anchorage, AK

People & Lifestyle

Median Age
34.9 yr
33.0 yr
+1.9 yr in Anchorage, AK
Homeownership
63.7%
46.8%
+16.9 pp in Anchorage, AK
Bachelor's+ (25+)
37.7%
50.9%
+13.2 pp in Salt Lake City, UT
Avg Commute
19.0 min
19.6 min
+0.6 min in Salt Lake City, UT

Crime (per 100k/yr)

Violent Crime
1,016.5
878.8
+14% in Anchorage, AK
Property Crime
2,796.2
5,257.3
+88% in Salt Lake City, UT

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
52.8°F
+15.4°F in Salt Lake City, UT
Annual Precipitation
17.9 in
16.1 in
+1.8 in in Anchorage, AK

Gas

Regular Gasoline
$5.09/gal
$4.29/gal
+16% in Anchorage, AK

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

Utilities

Electricity (¢/kWh)
28.2
13.0
+54% in Anchorage, AK
Natural Gas ($/MCF)
$14.40
$10.26
+29% 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 / UT)
None
6.1%
+6.1 pp in UT
Income Tax (top rate)
None
4.50%
+4.5 pp in UT

Anchorage vs Salt Lake City — FAQ

Is it cheaper to live in Anchorage or Salt Lake City?
Salt Lake City, UT is cheaper. Its monthly baseline of $1,300 (1BR rent + utilities) runs about 2% below Anchorage, AK's $1,320, mainly because of electricity costs.
How much more do you need to earn to live in Anchorage than in Salt Lake City?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $42,000 a year in Anchorage versus $47,000 in Salt Lake City.
Which has lower taxes, Anchorage or Salt Lake City?
Anchorage is taxed under Alaska's rules (no state income tax and no state sales tax); Salt Lake City under Utah's (a top state income tax rate of 4.50% and a 6.1% 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).