Alaska cost of living
+1 more
People move to a new state for a lot of reasons. Maybe it’s family, work or a fresh start. No matter why you’re looking to move, you’ll want to know where you can afford to live. We’ve crunched the numbers so you can figure out which communities will be the best fit for your family in your price range.
The median rent in Alaska is $1,583.64, versus the national median rent of $1,529.01.
Jump to insightResidents in Alaska spend $328.71 weekly on food at home and $103.76 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $3.97 in Alaska.
Jump to insightRecent data shows that employees in Alaska pay $1,925 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in Alaska
According to recent data from Zillow, the median rent in Alaska is $1,583.64, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in Alaska broken down by home size. As of publishing, one-bedroom apartments in Alaska had a median cost of $980 per month, and the two-bedroom median cost was $1,351 per month. Three- and four-bedroom homes had median costs of $1,733 and $2,043, respectively.
As of publishing, the median home price in Alaska is $388,000, according to Redfin. The U.S. median home price is $436,000.
The median home price in the Anchorage metro area was $412,000 in the first quarter of 2024, according to the National Association of Realtors (NAR).
Alaska ranks No. 21 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 1.04%.
» COMPARE: Best moving companies
Food costs in Alaska
According to recent census data, the average spent weekly on food to prepare at home in Alaska is $328.71, compared with the U.S. average of $270.21 at the time. Alaska residents spend an average of $103.76 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in Alaska
According to recent data from AAA, the average price per gallon of regular gas in Alaska is $3.97, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in Alaska is $1,122.25, versus the national average of $1,189.50.
Public transportation costs
A number of public transit providers operate across the state of Alaska. Most offer transportation via buses, but there are ferry services available in some locations. In Anchorage, a single-day bus pass costs $2 as of June 2024.
Due to extreme weather and long distances, some areas of Alaska can only be reached by air (airplane or helicopter). If you plan to live in a rural area, check with local airports and charter services for details and expenses.
Health care costs in Alaska
The most recent KFF data shows that, on average, employer-sponsored health insurance cost Alaska employees $1,925 annually, with employers covering the remaining $6,699 of the $8,624 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in Alaska
According to the most recent data from the Energy Information Administration, the average monthly electric bill in Alaska is $134.11, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in Alaska costs $11 per thousand cubic feet, compared with $13.25 nationally.
FAQ
Does Alaska really pay people to live there?
Each year, Alaska gives qualifying residents a cash permanent fund dividend, allowing them to share in state minerals revenue. The 2023 payout (payable in 2024) was $1,312.
What are the most expensive cities in Alaska?
Anchorage, the largest city, and Juneau, the state capital, are both more expensive than the national average.
How big is Alaska?
A lot of people know that Alaska is the largest U.S. state, but it might surprise you to learn that the Last Frontier, with over 570,000 square miles, is more than twice the size of Texas, the next largest state.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, “Housing Data.” Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
