Salary & Cost of Living in Anchorage, AK
Anchorage, AK: $72,800 median salary, cost of living index 127, $11.73/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$72,800
$35/hr
Cost of Living
127
US avg = 100
Minimum Wage
$11.73
per hour
Unemployment
4.5%
rate
Anchorage, AK Overview
Population
291,247
Median Salary
$72,800
Average Salary
$79,500
Avg Commute
22 min
Median Home Price
$340,000
Median Rent
$1,400/mo
Job Growth
+0.5%
Sales Tax
0%
Anchorage is located in Alaska with a population of 291,247. The median household salary is $72,800 per year ($35/hour), which is $13,416 above the national median of $59,384. The average commute time is 22 minutes, and the city has a job growth rate of +0.5%.
Anchorage Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Anchorage, AK, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$59,601
$4,966.73/month · $2,292.34/biweekly · Effective Rate: 18.1%
Gross Pay
$72,800
Federal Tax
-$7,630
State Tax
$0
Local Tax
$0
FICA
-$5,569
Net Pay
$59,601
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $6,066.67 | $72,800.00 |
| Federal Income Tax | -$635.83 | -$7,630.00 |
| Alaska State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$376.13 | -$4,513.60 |
| Medicare (1.45%) | -$87.97 | -$1,055.60 |
| Net Take-Home Pay | $4,966.73 | $59,600.80 |
Salary Comparison: Anchorage vs Other Cities
See how Anchorage's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Anchorage, AK | $72,800 | 127 | $57,323 |
| National Average | $59,384 | 100 | $59,384 |
| Bentonville, AR | $72,500 | 98 | $73,980 |
| Chicago, IL | $72,500 | 107 | $67,757 |
| Chula Vista, CA | $72,000 | 140 | $51,429 |
| Elk Grove, CA | $72,000 | 115 | $62,609 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Anchorage
Anchorage's cost of living index is 127 (national average = 100). Living in Anchorage is 27% more expensive than the national average.
Median Home Price
$340,000
Median Monthly Rent
$1,400
Annual Rent Cost
$16,800
Your Salary's Purchasing Power
Your $59,601 annual take-home pay in Anchorage has the purchasing power of approximately $46,930 in an average-cost US area. You would need to earn $92,456 in Anchorage to match a $72,800 salary in an average-cost city.
Top Industries in Anchorage
Anchorage's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $72,800.
Salary Tips for Anchorage Workers
- Negotiate for cost of living. Anchorage has a cost of living 27% above the national average. When negotiating salary, factor in the higher housing and living costs to ensure your real purchasing power stays competitive.
- No state income tax advantage. Alaska has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Anchorage's top industries include Oil & Gas, Military, Healthcare. Targeting roles in these sectors can help you earn above the $72,800 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Anchorage, AK?
The median salary in Anchorage, AK is $72,800 per year, or $35 per hour. The average salary is $79,500. This is $13,416 above the national median of $59,384.
What is the cost of living in Anchorage, AK?
Anchorage's cost of living index is 127 (national average = 100), meaning it is 27% more expensive compared to the national average. The median home price is $340,000 and the median monthly rent is $1,400.
What are the best industries in Anchorage?
The top industries in Anchorage, AK include Oil & Gas, Military, Healthcare. The city has a job growth rate of 0.5% and an unemployment rate of 4.5%. Workers in these industries often earn above the city's median salary of $72,800.
How does Anchorage's salary compare to other cities?
Anchorage's median salary of $72,800 is 22.6% above the national median of $59,384. However, when adjusted for cost of living (index: 127), the real purchasing power is approximately $57,323.
What is the minimum wage in Anchorage, AK?
The minimum wage in Anchorage, AK is $11.73 per hour. This equals approximately $24,398 per year for a full-time worker (40 hours/week). This is $4.48 above the federal minimum wage of $7.25/hour.