Alaska Cost Of Living Statistics


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Alaska Cost Of Living Statistics 2023: Facts about Cost Of Living in Alaska reflect the current socio-economic condition of the state.

alaska

LLCBuddy editorial team did hours of research, collected all important statistics on Alaska Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start an Alaska LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Alaska Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Alaska Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 15 Alaska Cost Of Living Statistics on this page 🙂

Alaska Cost Of Living “Latest” Statistics

  • According to Payscale.com, the cost of living in Anchorage is 28% more than the national average.[1]
  • The cost of living in Los Angeles is 43% greater than the national average, making Fairbank’s cost of living almost 93% lower.[1]
  • The Anchorage metro area’s average healthcare costs are astonishingly 82% more than the national norm, according to a 2016 research from the health care cost institute.[2]
  • Food and groceries in 485 gallons the cost of groceries is 24% greater in Wasilla than it is nationwide.[3]
  • According to Payscale.com, Fairbank’s cost of living is around 33% more than the national average.[1]

Alaska Cost Of Living “Price” Statistics

  • According to the National Association of Realtors, the median existing house price in Alaska is $353,900.[4]
  • Wasilla’s housing expenses are 5% higher than the national average and the utility prices are 30% higher than the national average.[3]

Alaska Cost Of Living “Be” Statistics

  • According to statistics from April 2019, the suggested minimum amount of money to spend on meals for one person in Anchorage is $451.71. [1][2]
  • In Alaska, the typical rent for a studio or one-bedroom apartment is $860 and $962, respectively, less than the national median, according to RentData.org’s site.[2]

Alaska Cost Of Living “Other” Statistics

  • According to Zillow, the average house value in Alaska is $310,373, which is 1% less than the average home value nationwide, which is $312,728.[1]
  • According to the 2020 Bureau of Economic Analysis Personal Consumption Expenditures, Alaska’s average annual per capita expenditure on health care is $10,483.[4]
  • In Alaska, which has one of the lowest rates in the nation, just 29% of citizens can afford to purchase a house.[5]
  • According to the 2020 Bureau of Economic Analysis Personal Consumption Expenditures, the average total personal consumption expenditure in Alaska is $48,739 annually.[4]
  • According to NeighborhoodScout statistics from 2013 to 2018, properties saw an average yearly appreciation rate of 2.13%.[2]
  • Alaska’s average effective property tax rate is identical to the national average at 11.9%.[2]

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How Useful is Alaska Cost of Living

One of the primary areas where the Alaska cost of living can be particularly useful is in assessing the affordability of housing. Alaska is known for its harsh climate and remote locations, which can often lead to higher housing costs compared to other states. For many residents, the Alaska cost of living can serve as a valuable indicator of whether or not they will be able to afford a decent place to live in the state.

Additionally, the Alaska cost of living can also shed light on other essential expenses such as food, transportation, and healthcare. These factors can play a significant role in the overall well-being of residents in the state, as high costs in these areas can make it challenging for individuals and families to make ends meet.

Moreover, the Alaska cost of living can also be a useful tool for policymakers and researchers who are looking to understand the economic health of the state. By analyzing the relative costs of various goods and services in Alaska, policymakers can determine where resources are most needed and where investments might be most effective in improving the overall standard of living for residents.

On the flip side, some argue that the Alaska cost of living may not always provide a clear picture of the true quality of life in the state. While it can give insight into some key aspects of affordability, it may not fully capture other important factors such as job opportunities, education, and overall well-being.

For example, a state with a lower cost of living may still have high rates of unemployment or limited access to quality education and healthcare services. In this case, the Alaska cost of living may not necessarily reflect the overall quality of life experienced by its residents.

Furthermore, the Alaska cost of living can also vary widely depending on individual circumstances. Factors such as income level, family size, and personal preferences can all impact how individuals experience the cost of living in the state. While average costs can provide a general idea of affordability, they may not always accurately portray the lived experiences of all Alaskans.

Overall, while the Alaska cost of living can be a useful tool in assessing affordability and economic health, it is important to recognize its limitations. A holistic approach that takes into account a range of factors beyond just costs is essential in determining the true quality of life in the state. By considering a more comprehensive set of indicators, policymakers and residents alike can gain a more nuanced understanding of the challenges and opportunities that exist in Alaska.

Reference

  1. royalalaskanmovers – https://www.royalalaskanmovers.com/cost-of-living-in-alaska/
  2. smartasset – https://smartasset.com/mortgage/what-is-the-true-cost-of-living-in-alaska
  3. payscale – https://www.payscale.com/cost-of-living-calculator/Alaska-Wasilla
  4. sofi – https://www.sofi.com/cost-of-living-in-alaska/
  5. worldpopulationreview – https://worldpopulationreview.com/state-rankings/most-expensive-states-to-live-in

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