Quick facts: Anchorage, AK

Quick Facts

105.3
Cost of Living
above US average
287,145
Population
3.88
Crime Rate per 1000
below US average
$95,731
Median Income
above US average
$449,900
Median House Price
above US average
$1742.89
Average Rent
above US average
11%
Poverty Rate
above US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $95,731.

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Income Needed to Buy

βœ— Stretch
$141k/year
Based on $449,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $141k vs median $95,731
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Income Needed to Rent

βœ“ Affordable
$75k/year
Based on $1742.89/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($95,731) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Anchorage, AK

Anchorage, Alaska, is the largest city in the state and serves as a hub for commerce, culture, and transportation. Nestled between the waters of Cook Inlet and the towering Chugach Mountains, Anchorage boasts breathtaking natural scenery and abundant outdoor activities. The city has a diverse population of approximately 290,000 residents, reflecting a mix of ethnic backgrounds. Anchorage experiences a subarctic climate, characterized by long, cold winters and short, mild summers, making it a unique destination for seasonal activities like skiing, snowshoeing, hiking, and fishing. The city’s extensive park system, including Kincaid Park and Flattop Mountain, offers both residents and visitors access to nature. Culturally, Anchorage features various museums, such as the Anchorage Museum and the Alaska Native Heritage Center, celebrating the rich history and traditions of the indigenous populations. The local food scene is vibrant, with an emphasis on fresh seafood, including salmon and halibut. Anchorage serves as a gateway to adventure in Alaska, with easy access to stunning national parks, fjords, and wildlife. The city offers a blend of urban conveniences and breathtaking wilderness, making it a unique place to live or visit.

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