Alaska Cost Of Living Statistics


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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]

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How Useful is Alaska Cost of Living

One of the biggest factors contributing to Alaska’s higher cost of living is its geographical isolation. The state is physically separated from the contiguous US, making it more expensive to transport goods and services. This transportation cost is often passed on to consumers, driving up prices for everyday necessities like food, gas, and housing.

Additionally, Alaska’s harsh climate plays a role in its cost of living. The state experiences long, cold winters which can drive up heating costs significantly. Residents also face higher insurance premiums due to the increased risk of natural disasters such as earthquakes and wildfires. These factors all contribute to the overall higher cost of living in Alaska.

But is this cost of living useful? For some, the answer may be yes. Alaska offers incredible natural beauty, abundant outdoor recreational opportunities, and a sense of adventure that is hard to find elsewhere. For those who value these qualities, the higher cost of living may be worth it. After all, you can’t put a price on witnessing the northern lights or exploring pristine wilderness areas.

However, for others, the higher cost of living in Alaska may pose significant challenges. Families struggling to make ends meet may find it difficult to afford basic necessities. Young professionals may be deterred from relocating to the state due to the high cost of housing. And retirees living on a fixed income may find their budget stretched thin by the increased cost of living.

Ultimately, the usefulness of Alaska’s cost of living depends on individual circumstances and priorities. Those who are willing to make sacrifices in order to enjoy the state’s natural beauty and outdoor amenities may find the higher cost of living manageable. However, for others, the financial challenges that come with living in Alaska may outweigh the benefits.

It is important for policymakers and community leaders to consider how Alaska’s cost of living impacts residents and work towards solutions that ensure all Alaskans have access to affordable housing, healthcare, and other essential services. Balancing the unique advantages of living in Alaska with the financial burden it can bring is key to creating a sustainable and thriving community.

In the end, the usefulness of Alaska’s cost of living is a complex and nuanced issue that requires careful consideration and thoughtful planning. By addressing the challenges it poses and maximizing the opportunities it offers, Alaska can continue to be a place that residents are proud to call home.

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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