The 10 Cheapest Anchorage, AK Neighborhoods To Live In For 2019


We used science and data to determine which neighborhoods in Anchorage are the cheapest of the cheap.

Editor’s Note: This is our first time ranking the cheapest neighborhoods to live in Anchorage.
Cheapest Neighborhoods In Anchorage

Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.

And while every neighbhorhood in Anchorage might be more expensive than living in rural Alaska, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Anchorage neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Anchorage are the cheapest.

What’s the cheapest neighborhood to live in Anchorage for 2019? According to the most recent census data, Turnagain Arm looks to be the cheaptest Anchorage neighborhood to live in.

At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Anchorage. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Anchorage that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Anchorage.

Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more Alaska reading, check out:

How We Determined The Cheapest Anchorage Hoods In 2019

In order to rank the cheapest places to live in Anchorage, we had to determine what criteria defines ‘cheap’.

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 33 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the ‘Cheapest City Neighborhood In Anchorage.’ We’re lookin’ at you, Turnagain Arm.

Read on below to learn more about what it’s like to live in the cheapest places Anchorage. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

The 10 Cheapest Neighborhoods To Live In Anchorage For 2019

Overall SnackAbility

8
/10

Population: 655
Cost Of Living Index: 114 (6th cheapest)
Home Value To Income Ratio: 2.0 (2nd cheapest)
Rent To Income Ratio: 0.007 (5th cheapest)
More on Turnagain Arm: Homes For Sale | Data

The median income in Turnagain Arm comes in at $102,270 and the median home value is $202,967 for 2019.

Overall SnackAbility

4
/10

Population: 1,302
Cost Of Living Index: 105 (2nd cheapest)
Home Value To Income Ratio: 1.9 (1st cheapest)
Rent To Income Ratio: 0.012 (10th cheapest)
More on Government Hill: Homes For Sale | Data

The median income in Government Hill comes in at $64,040 and the median home value is $118,533 for 2019.

Overall SnackAbility

4
/10

Population: 4,956
Cost Of Living Index: 104 (1st cheapest)
Home Value To Income Ratio: 2.0 (3rd cheapest)
Rent To Income Ratio: 0.016 (18th cheapest)
More on Midtown: Homes For Sale | Data

The median income in Midtown comes in at $52,431 and the median home value is $106,717 for 2019.

Overall SnackAbility

8
/10

Population: 596
Cost Of Living Index: 123 (15th cheapest)
Home Value To Income Ratio: 2.5 (6th cheapest)
Rent To Income Ratio: 0.006 (3rd cheapest)
More on Girdwood: Homes For Sale | Data

The median income in Girdwood comes in at $110,579 and the median home value is $278,000 for 2019.

Overall SnackAbility

8.5
/10

Population: 1,956
Cost Of Living Index: 128 (17th cheapest)
Home Value To Income Ratio: 2.5 (5th cheapest)
Rent To Income Ratio: 0.006 (2nd cheapest)
More on Birchwood: Homes For Sale | Data

The median income in Birchwood comes in at $130,254 and the median home value is $323,100 for 2019.

Overall SnackAbility

8
/10

Population: 3,429
Cost Of Living Index: 116 (8th cheapest)
Home Value To Income Ratio: 2.8 (9th cheapest)
Rent To Income Ratio: 0.016 (16th cheapest)
More on North Star: Homes For Sale | Data

The median income in North Star comes in at $68,038 and the median home value is $189,225 for 2019.

Overall SnackAbility

8
/10

Population: 28,773
Cost Of Living Index: 117 (10th cheapest)
Home Value To Income Ratio: 2.8 (11th cheapest)
Rent To Income Ratio: 0.015 (14th cheapest)
More on Northeast: Homes For Sale | Data

The median income in Northeast comes in at $70,687 and the median home value is $200,405 for 2019.

Overall SnackAbility

4
/10

Population: 6,816
Cost Of Living Index: 105 (2nd cheapest)
Home Value To Income Ratio: 2.3 (4th cheapest)
Rent To Income Ratio: 0.021 (31st cheapest)
More on Mountain View: Homes For Sale | Data

The median income in Mountain View comes in at $43,297 and the median home value is $101,400 for 2019.

Overall SnackAbility

9
/10

Population: 10,534
Cost Of Living Index: 138 (28th cheapest)
Home Value To Income Ratio: 2.8 (10th cheapest)
Rent To Income Ratio: 0.005 (1st cheapest)
More on Huffman-O’malley: Homes For Sale | Data

The median income in Huffman-O’malley comes in at $146,064 and the median home value is $408,729 for 2019.

Overall SnackAbility

7
/10

Population: 11,666
Cost Of Living Index: 114 (6th cheapest)
Home Value To Income Ratio: 2.9 (13th cheapest)
Rent To Income Ratio: 0.017 (21st cheapest)
More on Russian Jack Park: Homes For Sale | Data

The median income in Russian Jack Park comes in at $60,693 and the median home value is $176,725 for 2019.

Summing Up The Cheapest Places In Anchorage

If you’re measuring the neighborhoods in Anchorage where prices are low and it’s cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Anchorage aren’t all cheap. Hillside East takes the title of the most expensive neighborhood to live in Anchorage.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more Alaska reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Anchorage For 2019

Rank Neighborhood Cost Of Living Index
1 Turnagain Arm 114
2 Government Hill 105
3 Midtown 104
4 Girdwood 123
5 Birchwood 128
6 North Star 116
7 Northeast 117
8 Mountain View 105
9 Huffman-O’malley 138
10 Russian Jack Park 114
11 Abbott Loop 126
12 University Area 119
13 Eagle River 132
14 Bayshore-Klatt 130
15 Rogers Park 129
16 Taku-Campbell 122
17 Sand Lake 129
18 Tudor Area 130
19 Scenic Foothills 130
20 Spenard 116
21 Campbell Park 122
22 Chugiak 130
23 Airport Heights 120
24 Old Seward-Oceanview 138
25 Rabbit Creek 153
26 Downtown 107
27 Fairview 116
28 Basher 130
29 Turnagain 133
30 South Fork 152
31 Eagle River Valley 145
32 South Addition 145
33 Hillside East 182

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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