Are you planning to move to Alaska? Known as the last frontier of the United States, Alaska is the largest state in the United States in terms of land area with an estimated population of 731,158. It is one of the most sought after tourist destinations in the world due to its wild nature and beautiful landscapes. The state is home to the Aleutian Islands, vast tundras, the Arctic coastal plains, Glacier Bay, Denali National Park and Preserve, Harding IceField and many more. Due to its natural characteristics, Alaska tends to attract some sort of adventure-seeking crowd.
The cost of living in Alaska
Although it is one of the smallest state economies in America, Alaska has one of the highest per capita incomes, $ 71,996, due to its economic diversity dominated by oil, fishing , tourism and natural gas.
The cost of food, especially in rural areas, is higher than the national average. And the more rural your location, the higher the cost of food, especially for fresh fruits and vegetables. Indeed, transporting food to rural areas is very expensive and the consumer bears this additional cost. The state’s climate is also not conducive to growing most foods, so most foods are outsourced from other states. Despite some of its high costs, the state has no income tax or sales tax. Looking for the cheapest accommodation in Alaska? Here are our top 5 picks.
What is the cost of housing in Alaska?
If you plan to rent in Alaska, expect to pay an average of $ 1,458 per month. That’s just over $ 300 more than the national average of $ 1,150 per month.
If you are undecided and plan to live on a budget, you are likely to find a home that fits your budget, depending on where you would like to live in the state. Here is a list of some of the most affordable places to live in Alaska.
Juneau, the capital of Alaska, is the second largest city in America by area. The city does not have a road network connecting it to the rest of Alaska or North America and is only accessible by plane or boat. It also has an estimated population of 31,974, making it the second most populous city in the state. The city’s median home income is $ 84,750 per year, and the cost of living is 121.5, lower than the cost of living in Alaska.
The average rent per month is $ 2,003. Renters pay approximately $ 936 for a studio apartment, $ 1,101 for a one-bedroom apartment, $ 1,457 for a two-bedroom apartment, $ 2,083 for a three-bedroom apartment and $ 2,559 for a four-bedroom apartment .
Anchorage is the fourth largest city in the United States by area. It is also the most populous place in the state, home to approximately 288,000 residents, or more than 40% of the entire population of Alaska. Anchorage is a thriving metropolis due to its convenient location and attracts many companies and businesses. Additionally, the median household income is $ 82,271 per year and the cost of living is 123.5, slightly lower than the cost of living in Alaska.
Renters here pay up to $ 1,018 for a studio, $ 1,102 for a one-bedroom apartment, $ 1,436 for a two-bedroom apartment, $ 2,078 for a three-bedroom apartment, and $ 2,524 for a four-bedroom apartment.
Fairbanks is the largest city in Alaska, with 7,444 miles of land. It is a self-governing city and the county seat of Fairbanks North Star Borough. It has an estimated population of 30,917, making it the second most populous metropolitan area in the state, after Anchorage. The city’s median household income is $ 55,778 per year, and the cost of living in Fairbanks is 108.6, lower than the cost of living in Alaska.
The average rent for a one-bedroom apartment is $ 950 per month. Renters pay about $ 1,300 for a two-bedroom apartment and $ 1,600 for a three-bedroom apartment.
Kenai is a town in the Borough of the Kenai Peninsula. It is located 187 miles south of Anchorage and is famous for salmon fishing. It has an estimated population of 7,100 inhabitants. The city’s median household income is $ 66,064 per year. Also, the overall cost of living here is 104.5, lower than in the state.
The average rent per month is $ 1,313. Renters pay about $ 854 for a studio apartment, $ 863 for a one-bedroom apartment, $ 1,139 for a two-bedroom apartment, $ 1,511 for a three-bedroom apartment and $ 1,654 for a four-bedroom apartment.
Palmer is an Alaskan town 64 km from Anchorage. It is part of the Anchorage metropolitan area and has an estimated population of 5,937. The cost of living in Palmer is 121.8, lower than in Alaska, and the median household income is $ 62,339 per year. It’s also a top choice for the cheapest place to live in Alaska.
On average, tenants pay $ 1,123 per month. You can find a studio for around $ 750, a one-bedroom apartment for $ 790, a two-bedroom apartment for $ 1,050, a three-bedroom apartment for $ 1,520, and a four-bedroom apartment for $ 1,840.
While renting a home in Alaska might seem expensive, there are many cities in the state where you’re likely to find a home that fits your budget. With the help of a real estate expert, you can easily find a home that meets all of your housing needs.