Cost of Living in Anchorage, AK, United States

Updated On June 16, 2023

How Much Does It Cost to Live In Anchorage, AK?

You can find many people saying that Alaska is one of the most beautiful states in the United States, as it is full of stunning mountains and wildlife which attract people eager to explore nature.

It is true that its summers are short and cool, but this does not stop Alaska’s residents from enjoying the marvelous landscapes.

Anchorage is the most popular city in Alaska and the majority of people choose to settle just there.

Cost of Living Index:
* Based on Research & User Data


If we compare the cost of restaurants in Anchorage with other cities in Alaska, it is true that this would be the most expensive one.

Meals are pretty pricey, even in the least expensive restaurants, and if you like having a drink with your meal, you will have to pay a lot for it.



Being that Anchorage has the largest port in Alaska, all the imported goods come here, so they are available throughout the city.

However, all those goods have higher prices than domestic ones.

Food is the greatest expense and wise shopping is always suggested.



Anchorage is not a huge city and most of the places are within walkable distance, so riding a bike or walking would save you money on commuting.

Furthermore, Anchorage boasts a relatively short commute time compared to most cities, so newcomers tend to avoid driving.



When making a decision to come to Anchorage, have in mind that utilities are not part of the rent and have to be additionally paid.

The prices of basic services are not too high, regarding the high salaries, but the Internet is quite pricey.

Sports and leisure


Climate does not allow constant outdoor activities, but nature is so attractive that despite bad weather, residents rather do it outside than in fitness clubs.

Furthermore, this is more affordable as gym prices and tennis court rents are not cheap in Anchorage.

Clothing and shoes


Employees with the minimum salary would find designer clothing quite expensive and would rather buy low-cost apparel, while those with average salaries or higher would take it as inexpensive

The prices are lower than in some other cities where the average salaries are twice lower.

Rent per month


If you are considering relocating to Anchorage, you will have to think about finding ideal accommodation which will suit your need and desires.

The salary might determine whether you will choose a big or small apartment, whether it will be in the city center or in the suburbs.

Cost of Living Averages Table for Anchorage, AK

*Note: All prices are indicated in USD.
Average Restaurant Prices
Meal (Inexpensive Restaurant)$19
Domestic Beer (0.5 Liter)$7.00
Water (0.33 Liter)$2.38
Average Market Prices
Milk (1 Liter)$1.13
Loaf Bread (500g)$4.55
Eggs (12)$4.09
Average Transport Prices
One Way Ticket$2
Monthly Pass$60
Average Utilities Prices
Basic (Water, Electricity, Garbage, Heating, Cooling)$254.17
1 min. of Prepaid Mobile Tariff Local$0.10
Internet (Unlimited Data, Cable/ADSL)$114.78
Average Leisure Prices
Fitness Club, Monthly Fee for 1 Adult$74.75
Tennis Court Rent (1 Hour)$15
Cinema, 1 Seat, International Release$14.50
Average Clothing Prices
1 Pair of Jeans (Levis 501 Or Comparable)$47.50
1 Summer Dress in a Chain Store (Zara, etc...)$69.00
1 Pair of Adidas Walking Shoes (Mid-Range)$78.71
Average Rent Prices
Apartment (1 bedroom) in City Center$1383.3
Apartment (1 bedroom) Outside of Center$1199.06
Apartment (3 bedrooms) in City Center$2233.33

How Does the Average Person Spend Their Money in Anchorage, AK?

Even though the salaries are high, people do not need to take that as the only important factor for a decent living.

Actually, they need to have in mind all the possible expenses that might await them there and be able to organize their budget accordingly.

The cost of living in Anchorage is 27% higher than the national average, and this is caused by higher salaries than in the majority of other cities.

Rent prices are pretty high and together with food, they will be your greatest expense.

Average Costs Breakdown


Anchorage, AK: Average Salary, Minimum Wage & Mortgages

What makes Alaska so attractive to people searching for luck somewhere in the world is the fact that there are many job opportunities that offer an extremely high average salary.

This causes the population in Alaska continues to increase and more people research the cost of living in Anchorage even before settling there.

The difference between the minimum and the average salary is huge, so it is advisable to get familiar with possible future income in advance.

Average Salary$4422.92
Minimum Wage$1256.7
Mortgage Interest Rate5.43%

Anchorage Safety Overview

READ THE FULL REPORT: Anchorage Safety Review

Safety Index:

Cost of Living by City in Anchorage, AK

CityCost of Living Index
Albany, NY72.4
Albuquerque, NM72.4
Ann Arbor, MI72.4
Arlington, TX72.4
Asheville, NC72.4
Atlanta, GA72.4
Austin, TX72.4
Bakersfield, CA72.4
Baltimore, MD72.4
Bellevue, WA72.4
Bellingham, WA72.4
Berkeley, CA72.4
Birmingham, AL72.4
Boise, ID72.4
Boston, MA72.4
Boulder, CO72.4
Brooklyn, NY72.4
Buffalo, NY72.4
Burlington, VT72.4
Charleston, SC72.4
Charlotte, NC73.33
Chattanooga, TN72.4
Chicago, IL72.4
Cincinnati, OH72.4
Cleveland, OH72.4
Columbia, SC72.4
Columbus, OH72.4
Dallas, TX72.4
Dayton, OH72.4
Denver, CO72.4
Des Moines, IA72.4
Detroit, MI72.4
El Paso, TX72.4
Eugene, OR72.4
Everett, WA72.4
Fayetteville, AR72.4
Fort Myers, FL72.4
Fort Wayne, IN72.4
Fort Worth, TX72.4
Fresno, CA74.2
Gainesville, FL74.2
Grand Rapids, MI74.2
Greensboro, NC74.2
Hartford, CT74.2
Honolulu, HI74.2
Houston, TX74.2
Huntsville, AL74.2
Indianapolis, IN74.2
Irvine, CA74.2
Jacksonville, FL74.2
Jersey City, NJ74.2
Kansas City, MO74.2
Knoxville, TN74.2
Las Vegas, NV74.2
Lexington, KY74.2
Little Rock, AR74.2
Long Beach, CA74.2
Los Angeles, CA74.2
Louisville, KY74.2
Lubbock, TX74.2
Madison, WI74.2
Memphis, TN74.2
Miami, FL74.2
Milwaukee, WI74.2
Minneapolis, MN74.2
Nashville, TN74.2
New Orleans, LA74.2
New York, NY74.2
Oakland, CA74.2
Oklahoma City, OK74.2
Olympia, WA74.2
Orlando, FL74.2
Peoria, IL72.4
Philadelphia, PA72.4
Phoenix, AZ72.4
Pittsburgh, PA72.4
Portland, ME72.4
Portland, OR72.4
Raleigh, NC72.4
Reno, NV72.4
Richmond, VA74.2
Rochester, NY74.2
Sacramento, CA74.2
Saint Louis, MO74.2
Saint Paul, MN74.2
Saint Petersburg, FL74.2
Salem, OR74.2
Salt Lake City, UT74.2
San Antonio, TX74.2
San Diego, CA74.2
San Francisco, CA74.2
San Jose, CA74.2
Santa Barbara, CA74.2
Santa Rosa, CA74.2
Seattle, WA74.2
Spokane, WA74.2
Springfield, MO74.2
Syracuse, NY74.2
Tacoma, WA74.2
Tallahassee, FL74.2
Tampa, FL74.2
Toledo, OH74.2
Tucson, AZ74.2
Tulsa, OK74.2
Vancouver, WA74.2
Virginia Beach, VA74.2
Washington, DC74.2
West Palm Beach, FL74.2
Wichita, KS74.2

Where to Next?

See these related locations:

Or, browse the country/city indexes:

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