Alaska Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
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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

Alaska’s cost of living is undeniably higher than the national average. Everything from groceries to housing costs can be significantly more expensive in the 49th state. For many people considering a move to Alaska, this can be a major deterrent. Affordability is a crucial factor for most individuals and families when deciding where to call home.

However, it’s important to remember that cost of living is just one piece of the puzzle. While living expenses may be higher in Alaska, so too are wages. The state has traditionally offered higher salaries, particularly for certain industries like oil and gas, fishing, and tourism. This means that while it may cost more to live in Alaska, the potential for earnings to offset those costs is also greater.

Furthermore, there are aspects of living in Alaska that simply can’t be quantified in monetary terms. The sense of adventure and freedom that comes with living in such a remote and wild place is priceless to many residents. The opportunity to explore vast expanses of untouched wilderness, see the Northern Lights dance across the sky, and watch bears catching salmon in pristine rivers is something that money can’t buy.

In addition, Alaska’s strong sense of community and connection to nature fosters a quality of life that is difficult to find elsewhere. Residents of the state often report higher levels of satisfaction and well-being than those in more densely populated areas. The importance of mental health and overall happiness should not be overlooked when considering the value of living in Alaska.

While the cost of living may pose challenges for some, it’s worth considering the full picture before discounting Alaska as a potential home. For those who are passionate about outdoor recreation, wildlife, and the unique experience of living in America’s wildest state, the higher costs may be a worthy trade-off. The rugged beauty and independent spirit of Alaska offer an unparalleled lifestyle that suits a certain type of person.

Ultimately, the usefulness of Alaska’s cost of living as a factor in decision-making will vary from person to person. For some, it may be a significant barrier that outweighs the benefits of living in the state. For others, the opportunity to live in such a wild and untamed place may be worth the upfront costs.

In the end, it’s important to weigh all aspects of a potential move to Alaska, from the financial implications to the intangible rewards. By considering the full range of factors at play, individuals can make informed decisions about whether the Last Frontier is the right fit for them.

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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