How Much Does it Cost to Live Comfortably in Alaska?

Are you considering a move to Alaska? Before you make the big move, it’s important to understand the cost of living in the Last Frontier. With its breathtaking scenery and abundance of outdoor activities, Alaska is an attractive destination for many. But how much does it cost to live comfortably in Alaska?

Average Cost of Living in Alaska

According to data gathered by the Missouri Economic Research and Information Center (MERIC) in the third quarter of 2021, Alaska is the state with the seventh highest cost of living. The average cost of living in Alaska is $48,739 per year. This figure includes the cost of housing, food, transportation, health care, and other essential expenses.

Housing Costs in Alaska

Housing costs in Alaska are significantly higher than the national average. According to Zillow, the median home value in Alaska is $299,000, which is nearly double the national median home value of $184,700. Renters in Alaska also face higher costs, with the median rent for a two-bedroom apartment in Alaska costing $1,845 per month.

Food Costs in Alaska

Food costs in Alaska are also higher than the national average. According to the Bureau of Labor Statistics, the average cost of food in Alaska is $6,087 per year, which is $1,000 more than the national average.

Transportation Costs in Alaska

Transportation costs in Alaska are also higher than the national average. According to the Bureau of Labor Statistics, the average cost of transportation in Alaska is $4,530 per year, which is $1,200 more than the national average.

Health Care Costs in Alaska

Health care costs in Alaska are also higher than the national average. According to the Bureau of Labor Statistics, the average cost of health care in Alaska is $6,845 per year, which is $1,500 more than the national average.

Living in Alaska can be expensive, but it can also be worth it. With its breathtaking scenery and abundance of outdoor activities, Alaska is an attractive destination for many. However, if you’re planning to move to Alaska, it’s important to understand the cost of living and to budget accordingly. The average cost of living in Alaska is $48,739 per year, and housing, food, transportation, and health care costs are all higher than the national average. By tightening up your budget and planning ahead, you can make living in Alaska a reality.