Total monthly cost of ownership
Cost to Own a Home in Anchorage, Alaska
A $376,000 home here costs
$3,137per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $134,500 a year.
A standard mortgage calculator would have told you $2,083. The real number is $1,054 higher every month, 51% more than the payment most buyers budget for.
Compare Anchorage Municipality with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Anchorage against Anchorage Municipality and Alaska
| Measure | Anchorage | Anchorage Municipality |
|---|---|---|
| Median home value | $375,900 | $375,900 |
| Median property tax | $4,865 | $4,865 |
| Effective tax rate | 1.294% | 1.294% |
| Median gross rent | $1,453 | $1,453 |
| Population | 289,069 | 289,069 |
The weather behind that power bill
Anchorage sits in Anchorage Municipality, which averages a high of 67.4°F in its hottest month and a low of 6.4°F in its coldest, with 22.55" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 5 cooling and 10,764 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Anchorage Municipality , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Anchorage Municipality
No other places of this size are published in Anchorage Municipality.
Full Anchorage Municipality cost breakdown · Every county in Alaska
Talk to someone who works this market
These are Anchorage averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Anchorage every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Anchorage I already own here and may sell
Common questions
How much does it cost to own a home in Anchorage?
A $376,000 home in Anchorage, Alaska costs approximately $3,137 per month with 20% down at 7.4%. That is $2,083 principal and interest, $405 property tax, $101 homeowners insurance, $235 utilities and $313 set aside for maintenance.
What is the property tax rate in Anchorage?
Anchorage has an effective property tax rate of 1.294%, based on a median home value of $375,900 and median real estate taxes of $4,865. That is in line with the Anchorage Municipality average of 1.294%.
What is the average home price in Anchorage?
The median owner-occupied home value in Anchorage, Alaska is $375,900, against $375,900 across Anchorage Municipality.
Is it cheaper to rent or buy in Anchorage?
Median gross rent in Anchorage is $1,453 a month, against $3,137 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Anchorage?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Anchorage, Alaska at today's rate takes a household income of roughly $134,500 a year. That covers the full $3,137 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Anchorage, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Alaska.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.