Alaska, the “last frontier”, is known for its unparalleled natural beauty. From Denali National Park and the colorful Northern Lights to Glacier Bay National Park and outdoor activities like fishing, hiking and wildlife watching, this creates a unique state of being. If you’ve been thinking about moving to Alaska or hoping to buy your first home there, you probably also have a budget when looking for a place to live. As of July, Alaska median home sales price It’s $387,900.
Don’t worry if the price is out of your budget. We have a variety of options to help you find your home. Redfin has compiled a list of the 8 most affordable places to live in Alaska. Their median home sales prices are all below $387,900. from badger arrive fairbanksread on to find out which cities you might want to consider moving to.
#1: Fairbanks
Median house price: $278,500
Average sales price per square foot: $206
Average rent for a one-bedroom apartment: $1,350
Median household income: $66,572
Fairbanks Alaska Homes for Sale
Fairbanks Alaska Apartments for Rent
The first city on our list of the most affordable places to live in Alaska is Fairbanks. Fairbanks has approximately 31,500 residents and is Alaska’s second largest city. The median home sale price is $278,500, about $110,000 less than the state’s median home sale price. If you find yourself moving to the cheapest place in Alaska, explore downtown Fairbanks where you’ll find restaurants and museums such as Fairbanks Ice and Snow Museumvisit Wedgewood Wildlife Refuge, and spend a day at Pioneer Park.
#2: Kenai
Median house price: $340,000
Average sales price per square foot: $240
Nearest major subway: Anchorage (160 miles)
Kenai Alaska Homes for Sale
Apartments for Rent in Kenai, Alaska
Slightly more expensive than Fairbanks is the city of Kenai, located on the Kenai Peninsula south of Nikiski. Approximately 7,800 people live in Kenai, and there are many unique things to do here. Be sure to enjoy the scenery at Kenai Beach, hike the Meeker Trail, explore the quaint downtown, or visit nearby Kenai Fjords National Park.
#3: Badger
Median house price: $350,000
Average sales price per square foot: $215
Median household income: $87,169
Nearest major subway: Fairbanks (11 miles)
Badger, Alaska Homes for Sale
Apartments for Rent in Badger, Alaska
The town of Badger is home to approximately 19,200 residents and is Alaska’s next affordable place to live. It is conveniently located approximately 11 miles southeast of Fairbanks. The median home sales price is about $37,000 less than the state average, so you can save a lot of money. Badger is a charming city that has a lot to offer its residents.
#4: Juno
Median house price: $370,000
Average sales price per square foot: $284
Median household income: $95,711
Juneau, Alaska Homes for Sale
Juneau, Alaska Apartments for Rent
The fourth city on our list is Juneau, one of the famous cities in Alaska. Juneau is located in the Alaska Panhandle, along the Gastineau Sound, and has approximately 31,500 residents. You can find many museums and attractions in Juneau, such as Alaska State Museumthis last chance mining museum, and Mount Roberts Tramway. You can also explore beautiful nature like the Mendenhall Glacier, Mendenhall Marshes National Wildlife Refuge, and Eaglecrest Ski Area.
#5: Tanaina
Median house price: $375,000
Average sales price per square foot: $269
Median household income: $86,418
Nearest major metro: Anchorage (47 miles)
Homes for Sale in Tanaina, Alaska
Apartments for Rent in Tanaina, Alaska
The next location is Tanaina, which has about 9,600 inhabitants. Tanaina is located north of Wasilla, about 47 miles north of Anchorage. This is a great city if you want to be close to nature and tourist attractions. For example, Tanaina is located near Independence Mine State Historic Park, Alaska Transportation Museumand the picturesque hiking area Reed Lakes Trailhead.
#6: Meadow Lake
Median house price: $375,000
Average sales price per square foot: $249
Median household income: $80,492 USD
Nearest major subway: Anchorage (50 miles)
Meadow Lake Alaska Homes for Sale
Apartments for Rent in Meadow Lakes, Alaska
Sixth is Meadow Lakes, another affordable spot located west of Tanaina and Wasilla. The town has approximately 8,700 residents and the median home sales price is $275,000. Meadow Lakes is home to several lakes, making it a picturesque place to call home. It’s also close to the popular state park Big Lake South State Recreation Area.
#7: Kalifoski
Median house price: $375,000
Average sales price per square foot: $250
Median household income: $90,703
Nearest major subway: Anchorage (152 miles)
Homes for Sale in Kalifonski, AL
Apartments for Rent in Kalifonski, AL
Kalifornsky is located on the Kenai Peninsula and is home to approximately 8,300 people. The town is located on the shores of Cook Inlet, which means you’ll have plenty of water views. Kalifonski is close to other small towns like Nikiski and Kenai, so you can easily explore the East Forland Lighthouse Preserve and Kenai National Wildlife Refuge.
#8: Knik-Fairview
Median house price: $384,500
Average sales price per square foot: $244
Median household income: $94,047
Nearest major subway: Anchorage (51 miles)
Knik-Fairview Alaska Homes for Sale
Knik-Fairview, Alaska Apartments for Rent
Knik-Fairview is the final location on our list of affordable places to live in Alaska. Situated along the Knik Arm, it offers unobstructed views of the entire area. With approximately 18,600 residents, Knik-Fairview has a lot to explore. You can visit the Knik Museum and Mushers Hall of Fame, explore the Palmer Hay Flats State Game Refuge, and spend a day at Settlers Bay Coastal Park.
method: All cities must have more than 7,000 residents and have a median home sales price below Alaska’s average median home sales price, according to the U.S. Census. Median home sales and median sales price per square foot Red Fin Information Center Average rent data for the period July 2024 rental network August 2023. U.S. Census Bureau.