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These days, finding an affordable place to live in the Alaska area can be challenging. Home prices in Alaska are now at a median cost of $254,370, lower than the the United States average of $313,691.
The average cost of rent is $1,277/mo in Alaska, primarily driven by the current value of real estate in the Alaska area. While nearly 46.45% of residents own their homes outright in Alaska, 30.72% rent.
Housing affordability isn’t just about home prices, though. The average household income in Alaska is $6,707 per month. Households that rent pay about 19.04% of their income on rent here. Alaska's most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the state.
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