Cost of Living: Salt Lake City vs Anchorage (2026)
Anchorage has a 7% lower overall cost of living than Salt Lake City as of Q1 2026. A one-bedroom apartment runs $1,700/mo in Salt Lake City vs $1,800/mo in Anchorage — a 6% difference. Anchorage has no state income tax, giving residents more take-home pay than those in Salt Lake City (4.7% rate).
- Anchorage is 7% cheaper overall (COL index: 107 vs 100)
- 1BR rent: $1,700/mo in Salt Lake City vs $1,800/mo — 6% savings
- Anchorage has 0% state income tax — saves ~$3,300+/yr at a $75K salary
- Higher median household income: Anchorage ($80,000/yr vs $72,000/yr)
- Median home price: $400,000 in Anchorage vs $480,000 — 17% difference
| Category | Salt Lake City Utah | Anchorage Alaska |
|---|---|---|
| 🏠 HousingQ1 2026 | ||
| Studio rent/mo | $1,400Best | $1,400 |
| 1BR rent/mo | $1,700Best | $1,800 |
| 2BR rent/mo | $2,200Best | $2,450 |
| Median home price | $480K | $400KBest |
| 🛒 Food & GroceriesQ1 2026 | ||
| Groceries index (100 = US avg) | 98Best | 103 |
| Budget meal (1 person) | $13Best | $16 |
| Mid-range dinner (2) | $55Best | $65 |
| 🚌 TransportationQ1 2026 | ||
| Monthly transit pass/mo | $90 | $45Best |
| Gas price/gal | $3.30Best | $3.90 |
| Car insurance/mo | $140Best | $175 |
| ⚡ UtilitiesQ1 2026 | ||
| Monthly utilities bundle/mo | $150Best | $165 |
| Internet/mo | $60Best | $90 |
| 💰 Income & TaxesQ1 2026 | ||
| Median household income/yr | $72K | $80KBest |
| State income tax% | 4.7% | 0.0%Best |
| Sales tax (combined)% | 7.8% | 1.8%Best |
| 🎬 LeisureQ1 2026 | ||
| Movie ticket | $14.00Best | $15.00 |
| Gym membership/mo | $40Best | $45 |
| Beer at restaurant | $7.00Best | $7.00 |
| 📊 OverviewQ1 2026 | ||
| Overall COL index (100 = US avg) | 107 | 100Best |
| Walk score / 100 | 42Best | 26 |
Frequently asked questions
Is Salt Lake City cheaper than Anchorage?
No. Anchorage is 7% cheaper than Salt Lake City based on overall cost of living indices (100 vs 107, where 100 = US average).
What is the average rent in Salt Lake City vs Anchorage?
As of Q1 2026, the median 1-bedroom rent in Salt Lake City is $1,700/month and in Anchorage is $1,800/month. Salt Lake City is cheaper by 6%.
How much do I need to earn in Anchorage to match a $75,000 salary in Salt Lake City?
To maintain a similar lifestyle, you would need approximately $70,093/year in Anchorage to match a $75,000 salary in Salt Lake City. This estimate is based on overall cost of living indices and does not account for individual spending patterns.
Which city has lower taxes — Salt Lake City or Anchorage?
Anchorage has the lower state income tax rate at 0% vs 4.7%. Anchorage has no state income tax at all, which can save thousands of dollars per year depending on your income. Note that sales tax and local taxes also vary — see the full breakdown in the table above.
Is it worth moving from Salt Lake City to Anchorage?
It depends on your priorities. Anchorage offers lower overall costs and tax advantages, but both cities have different job markets, weather, and lifestyle trade-offs. Use the comparison table above to evaluate rent, groceries, transportation, and income potential side by side based on your specific budget.
Data sourced from Zillow, BLS, Numbeo, Tax Foundation, and US Census ACS · Updated Q1 2026 · For general guidance only
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