Cost of Living in Anchorage Municipality, Alaska

$1,453/mo

Median Monthly Rent

$375,900

Median Home Value

19% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,453/mo

19% above state average

Median Home Value

$375,900

33% above national

Rent-to-Income Ratio

29.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Anchorage Municipality Compares

Median monthly rent comparison

Anchorage Municipality$1,453/mo

Alaska Average$1,221/mo

National Median$1,163/mo

Detailed Housing Stats

$1,453/mo

Median Gross Rent

$375,900

Median Home Value

$1,933/mo

Monthly Owner Cost

29.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Anchorage Municipality, Alaska

Alaska's Hub: Just Below National Average

Anchorage renters dedicate 17.8% of income to housing, marginally above the national affordability threshold of 30% and matching Alaska's state average of 18.6%. With a median household income of $98,152—higher than the national median of $74,755—Anchorage balances strong earnings with reasonable housing costs.

Alaska's Most Balanced Housing Market

Anchorage's 17.8% rent-to-income ratio sits squarely at Alaska's state average, making it the state's most representative and stable housing market. As Alaska's largest municipality, Anchorage offers more housing supply and pricing diversity than remote boroughs, translating to greater affordability.

Competitive Pricing Among Urban Centers

Anchorage's median rent of $1,453 falls between smaller Chugach Census Area ($1,397) and more remote Aleutians West ($1,886). Home values average $375,900, reflecting Anchorage's position as Alaska's urban anchor with the most developed real estate market.

Urban Stability for Renters and Buyers

Renters spend $1,453 monthly on a $98,152 annual income, leaving 82.2% of earnings for other expenses, while homeowners face $1,933 monthly payments on properties averaging $375,900. Anchorage's dual affordability for both renters and buyers stands unmatched in Alaska.

Anchorage: Alaska's Most Livable Option

Relocating to Alaska? Anchorage offers the best combination of job opportunity, housing supply, and affordability the state provides. Compare its 17.8% rent-to-income ratio and $1,453 median rent against remote alternatives—you'll find Alaska's most balanced housing market here.

Affordability Calculator

See how your income compares to housing costs in Anchorage Municipality

Your Annual Household Income

Rent Burden

17.8%

of gross income

Max Housing (28% Rule)

$2,290

per month

Owner Cost Burden

23.6%

of gross income

The median home in Anchorage Municipality may be a stretch

Median home value is $375,900. Estimated monthly cost: $3,001 vs. your max of $2,290.

Rent Affordability Guide

Your rent-to-income ratio17.8%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Anchorage Municipality, Alaska?

Anchorage Municipality, Alaska has a median monthly rent of $1,453/mo and a median home value of $375,900. The affordability rating is Unaffordable, with rent making up approximately 29.0% of median household income.

What is the median rent in Anchorage Municipality?

The median gross rent in Anchorage Municipality is $1,453/mo. This is 19% above state average for Alaska.

Is Anchorage Municipality affordable?

Anchorage Municipality is rated Unaffordable based on rent-to-income ratio of 29.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Anchorage Municipality's rent compare to the state average?

Anchorage Municipality's median rent of $1,453/mo is 19% above state average of $1,221/mo for Alaska.

What is the median home value in Anchorage Municipality?

The median home value in Anchorage Municipality, Alaska is $375,900. This is 33% above the national median home value of $281,900.