Before you decide to relocate to Alaska, it’s important to research the exact cost of living around the state. And that’s what we’re going to help you do.
These are the places in Alaska that cost a pretty penny — the most expensive cities in the state.
We used Saturday Night Science to compare the 2018-2022 American Community Survey on cost of living for the 22 places in Alaska with more than 5,000 people.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Alaska for 2024.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In Alaska For 2024
What’s the most expensive place to live in Alaska? Well, HomeSnacks crunched the numbers and discovered that Bethel is the most expensive place to live in Alaska.
Kenai (the cheapest place to live in Alaska) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Alaska and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Alaska For 2024
/10
Population: 6,312
Cost Of Living Index: 138
Median Income: $100,852
Average Home Price: $373,847
Home Price To Income Ratio: 3.7x
More on Bethel: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Bethel is 138. The median income in Bethel comes in at $100,852 and the average home value is $373,847 for 2024.
/10
Population: 32,108
Cost Of Living Index: 135
Median Income: $95,711
Average Home Price: $465,706
Home Price To Income Ratio: 4.9x
More on Juneau: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Juneau is 135. The median income in Juneau comes in at $95,711 and the average home value is $465,706 for 2024.
/10
Population: 6,542
Cost Of Living Index: 135
Median Income: $118,934
Average Home Price: $340,651
Home Price To Income Ratio: 2.9x
More on Steele Creek: Data | Cost Of Living | Real Estate
The overall cost of living in Steele Creek is 135. The median income in Steele Creek comes in at $118,934 and the average home value is $340,651 for 2024.
/10
Population: 8,462
Cost Of Living Index: 134
Median Income: $95,261
Average Home Price: $499,205
Home Price To Income Ratio: 5.2x
More on Sitka: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Sitka is 134. The median income in Sitka comes in at $95,261 and the average home value is $499,205 for 2024.
/10
Population: 5,584
Cost Of Living Index: 133
Median Income: $76,765
Average Home Price: $419,391
Home Price To Income Ratio: 5.5x
More on Kodiak: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Kodiak is 133. The median income in Kodiak comes in at $76,765 and the average home value is $419,391 for 2024.
/10
Population: 290,674
Cost Of Living Index: 132
Median Income: $95,731
Average Home Price: $373,986
Home Price To Income Ratio: 3.9x
More on Anchorage: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Anchorage is 132. The median income in Anchorage comes in at $95,731 and the average home value is $373,986 for 2024.
/10
Population: 19,182
Cost Of Living Index: 132
Median Income: $87,169
Average Home Price: $301,848
Home Price To Income Ratio: 3.5x
More on Badger: Data | Cost Of Living | Real Estate
The overall cost of living in Badger is 132. The median income in Badger comes in at $87,169 and the average home value is $301,848 for 2024.
/10
Population: 5,321
Cost Of Living Index: 132
Median Income: $106,688
Average Home Price: $394,623
Home Price To Income Ratio: 3.7x
More on Chena Ridge: Data | Cost Of Living | Real Estate
The overall cost of living in Chena Ridge is 132. The median income in Chena Ridge comes in at $106,688 and the average home value is $394,623 for 2024.
/10
Population: 12,376
Cost Of Living Index: 130
Median Income: $76,052
Average Home Price: $302,397
Home Price To Income Ratio: 4.0x
More on College: Data | Cost Of Living | Real Estate
The overall cost of living in College is 130. The median income in College comes in at $76,052 and the average home value is $302,397 for 2024.
/10
Population: 32,496
Cost Of Living Index: 129
Median Income: $69,914
Average Home Price: $281,546
Home Price To Income Ratio: 4.0x
More on Fairbanks: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Fairbanks is 129. The median income in Fairbanks comes in at $69,914 and the average home value is $281,546 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The Last Frontier For 2024
The two most important things to think about when it comes to being able to afford a city in Alaska are:
- How much money do I make?
- How much do I have to spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in Alaska to figure out which is the most expensive.
You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index to rank all of the 22 places in Alaska that have more than 5,000 people.
The place with the highest cost of living in Alaska according to the data is Bethel. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Alaska.
Summary: Taking A Chunk Out Of Your Paycheck In Alaska For 2024
Well, there you have it, the places in Alaska that have the highest cost of living, with Bethel ranking as the most expensive city in the Last Frontier.
The most expensive cities in Alaska are Bethel, Juneau, Steele Creek, Sitka, Kodiak, Anchorage, Badger, Chena Ridge, College, and Fairbanks.
Here’s a look at the most affordable cities in Alaska according to the data:
- Kenai
- Palmer
- Meadow Lakes
For more Alaska reading, check out:
- Best Places To Live In Alaska
- Cheapest Places To Live In Alaska
- Most Dangerous Cities In Alaska
- Best Places To Raise A Family In Alaska
- Safest Places In Alaska
- Worst Places To Live In Alaska
Most Expensive Cities In Alaska
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | Bethel | 138 | 6,312 | $100,852 | $373,847 | 3.7x |
| 2 | Juneau | 135 | 32,108 | $95,711 | $465,706 | 4.9x |
| 3 | Steele Creek | 135 | 6,542 | $118,934 | $340,651 | 2.9x |
| 4 | Sitka | 134 | 8,462 | $95,261 | $499,205 | 5.2x |
| 5 | Kodiak | 133 | 5,584 | $76,765 | $419,391 | 5.5x |
| 6 | Anchorage | 132 | 290,674 | $95,731 | $373,986 | 3.9x |
| 7 | Badger | 132 | 19,182 | $87,169 | $301,848 | 3.5x |
| 8 | Chena Ridge | 132 | 5,321 | $106,688 | $394,623 | 3.7x |
| 9 | College | 130 | 12,376 | $76,052 | $302,397 | 4.0x |
| 10 | Fairbanks | 129 | 32,496 | $69,914 | $281,546 | 4.0x |
| 11 | Fishhook | 128 | 5,115 | $98,523 | $371,759 | 3.8x |
| 12 | Knik-Fairview | 126 | 18,619 | $94,047 | $315,478 | 3.4x |
| 13 | Gateway | 126 | 6,241 | $115,735 | $436,833 | 3.8x |
| 14 | Homer | 126 | 5,623 | $69,757 | $369,327 | 5.3x |
| 15 | Kalifornsky | 125 | 8,380 | $90,703 | $310,971 | 3.4x |
| 16 | Sterling | 125 | 6,307 | $98,542 | $335,229 | 3.4x |
| 17 | Tanaina | 123 | 9,682 | $86,418 | $317,237 | 3.7x |
| 18 | Wasilla | 123 | 9,267 | $69,534 | $363,621 | 5.2x |
| 19 | Ketchikan | 122 | 8,168 | $73,512 | $380,964 | 5.2x |
| 20 | Meadow Lakes | 121 | 8,773 | $80,492 | $323,476 | 4.0x |
| 21 | Palmer | 118 | 6,091 | $68,929 | $384,706 | 5.6x |
| 22 | Kenai | 117 | 7,477 | $77,335 | $304,984 | 3.9x |
