Cost of Living in Anchorage, AK
Housing
The housing market plays a significant role in determining the cost of living in Anchorage, AK.
- Housing Index: 120.0 / 100
- Median Home Price is: $395000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1920 per month
Considering the data for Anchorage, AK, the housing index stands at 120.0, indicating that housing prices are above the national average. The median home price is relatively high at 395000, which could suggest a competitive real estate market. For those looking to rent, the average cost for a 2-bedroom apartment is 1800 and for a house, it's slightly higher at 1920. It's essential to factor in the local job market and amenities when evaluating this area for relocation. Be prepared for a significant investment if you choose to move here.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Anchorage, AK.
- Electricity Price: 25.4 USD (median by state)
- Natural Gas Price: $12.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Anchorage, AK could entail higher utility costs. Electricity costs sit at 25.4, while natural gas is priced at 12.01 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Anchorage is a financially viable option for your relocation.