Cost of living in Anchorage (Wasilla, Palmer: sales, apartments, condos)

[soldn2slavery]

So, how do you afford to live in Anchorage? From my research, the salaries (at least for my line of work) don't seem to be much higher than where I currently live. Yet, the housing is at least twice as high in Anchorage. Is this the reason for so many apartments, condos, and zero-lot lines (duplexes)?

I know about the PFD, but that doesn't come close to closing the gap.

Thanks for any insight.

[Alaskan_Adventurer]

Hi. Prices might seem a bit higher due to the need for shipping. One thing to consider, we have no sales tax. So basically the lack of a sales tax cancels out the shipping charges. Housing would be the big expense, but it is nothing compared to places in California(LA, San Jose, San Francisco specifically and other major cities like NYC. You can buy a 1500 sf, 3 br house for about $225,000-250,000. You also have the option of buying outside of Anchorage and commuting, specifically Wasilla, Palmer or Eagle River. Gas currently costs $2.93 for unleaded. Wages are quite a bit higher here. A personal example. I am a carpet installer. I make about $4.50-5.00 per square yard. Down in many states of the lower 48, I can make as low as $2.50-3.00. For me, that is a huge difference. Honestly though, we seem to have quite a few well off people up here. I hope this helps.

[Out of Alaska]

My personal experience has been that while the wages are higher, they aren't going to 'equal out' the cost of living.

People live up here and pay to live up here for the pleasure of it - for the amenities. Not as much cash, but you get the Alaska perks of hunting, fishing, etc.

The idea is that you will live on less, but enjoy yourself more. But... if you don't enjoy it... then you're just broke and mad

[rotorhead]

In answer to your question about condos, duplexes and ZLL housing...yes, it is directly related to the cost of housing in Anchorage. There is precious little land that is available to build on in the "Anchorage Bowl", and much of that is land that was previously bypassed because of its difficult nature. They're building houses on former gravel pits, in peat bogs, on steep hillsides, places that previous generations of builders considered unsuitable or uneconomic. If you're willing to commute out to Palmer or Wasilla, the prices are much more reasonable.

Incomes are of course highly variable. Many professions find that Alaska pays quite well, expecially for work that takes you outside a lot. Alaska still has a lot of union work too, particularly in the trades and electrical power field. If you're more of an IT type or an office worker, its not quite such a rosy picture though many places have such regular turnover that promotions and advancements might come more rapidly than in other places.

[RQuinn]

what about a disabled vet living on a fixed income?

[Glitch]

This explains it pretty well:

Cost of Living in Alaska (July 2006)