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]

Also Read

How Useful is Alaska Cost of Living

First and foremost, the cost of living in Alaska is influenced by its remoteness. Many rural communities are only accessible by plane or boat, making transportation costs significantly higher than in more densely populated areas. This is especially true for goods that need to be imported from other states or countries, driving up prices for everyday essentials like food, clothing, and household items.

Another factor that contributes to the cost of living in Alaska is the climate. The long, cold winters result in higher heating costs, not to mention the challenges of building and maintaining a home in such harsh conditions. Additionally, the limited growing season in many parts of the state means that fresh produce can be more expensive and harder to come by.

Despite these challenges, many Alaskans are quick to point out the benefits of living in the Last Frontier. The state is known for its stunning natural beauty, abundant wildlife, and unique outdoor lifestyle. For many residents, the high cost of living is a trade-off for the opportunity to live in such a remote, pristine environment.

Furthermore, Alaska often offers higher wages and unique job opportunities that can offset some of the higher costs. Industries like oil and gas, tourism, and fishing provide employment opportunities that are nonexistent in many other states. Additionally, the state’s Permanent Fund Dividend program, which distributes oil revenue to residents each year, can help offset some of the costs of living in Alaska.

Ultimately, the usefulness of the Alaska cost of living depends on individual circumstances. For some, the high costs may be worth it for the unique lifestyle and opportunities that the state provides. For others, the challenges of living in such a remote and harsh environment may outweigh the benefits.

In conclusion, the cost of living in Alaska is a complex and multifaceted issue that requires careful consideration. While the high prices for necessities and the challenges of the climate may be off-putting to some, others find the rewards of living in such a unique and wild place to be worth the sacrifices. Making an informed decision about whether to relocate to Alaska requires a careful examination of all factors involved, including not just the financial costs but also the lifestyle and opportunities that the state has to offer.

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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