Most Affordable Neighborhoods in Anchorage, AK
Some of the cheapest neighborhoods in Anchorage are Government Hill, Rogers Park, and Midtown Anchorage. These neighborhoods offer some of the lowest rent prices in Anchorage, making them ideal for renters on a budget. As of April 21, 2025, the average rent in Anchorage is $1,298, which is 1% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Government Hill
Average Rent
$1,075/Month
TransitScore® Rating
31/100
Units Available
4 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Government Hill. The average rent is $1,075, compared to the city average of $1,298. Government Hill is convenient to University of Alaska Anchorage, Alaska Botanical Garden, and Anchorage 5th Avenue Mall. The community is car-dependent with a WalkScore® of 26.
Rogers Park
Average Rent
$1,225/Month
Year-Over-Year Rent Change
6.3%
TransitScore® Rating
36/100
Units Available
2 Rentals
Rogers Park is an affordable neighborhood in Anchorage with an average rent price of $1,225. Compare this to the city average of $1,298. In the past year, rent prices have increased by 6.3%. Rogers Park provides easy access to Tony Knowles Coastal Trail, Anchorage Park Foundation, and University of Alaska Anchorage. It’s a somewhat walkable neighborhood with a WalkScore® of 59.
Midtown Anchorage
Average Rent
$1,261/Month
Year-Over-Year Rent Change
4.8%
TransitScore® Rating
37/100
Units Available
17 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Midtown Anchorage might be the perfect place! It has an average rent price of $1,261, while the city’s average stands at $1,298. In the last year, prices have increased by 4.8%. Midtown Anchorage is near Debenham Plaza, Andover Center, and Merrill Field.
Taku/Campbell
Average Rent
$1,361/Month
Year-Over-Year Rent Change
1.4%
TransitScore® Rating
30/100
Units Available
13 Rentals
Taku/Campbell is a top choice for budget-conscious renters for a variety of reasons. The average rent in Taku/Campbell is $1,361 while the city average is $1,298. This is a 1.4% difference from last year. Residents enjoy convenient access to Alaska Pacific University, Tony Knowles Coastal Trail, and Dimond Center. The neighborhood is considered somewhat walkable with a WalkScore® of 57.
Spenard
Average Rent
$1,364/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
38/100
Units Available
24 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Spenard. The average rent is $1,364, compared to the city average of $1,298. Rent prices have decreased by 0.1%. Spenard is convenient to Charter College-Anchorage, Anchorage Museum, and Merrill Field. The community is walkable with a WalkScore® of 78.
North Star
Average Rent
$1,374/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
42/100
Units Available
39 Rentals
North Star is an affordable neighborhood in Anchorage with an average rent price of $1,374. Compare this to the city average of $1,298. In the past year, rent prices have increased by 0.8%. North Star provides easy access to Anchorage 5th Avenue Mall, Alaska Botanical Garden, and Merrill Field. It’s a walkable neighborhood with a WalkScore® of 72.
Downtown Anchorage
Average Rent
$1,412/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
41/100
Units Available
101 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Downtown Anchorage might be the perfect place! It has an average rent price of $1,412, while the city’s average stands at $1,298. In the last year, prices have increased by 1.1%. Downtown Anchorage is near Alaska Botanical Garden, Alaska Pacific University, and University of Alaska Anchorage.
Russian Jack Park
Average Rent
$1,471/Month
Year-Over-Year Rent Change
2.6%
TransitScore® Rating
39/100
Units Available
6 Rentals
Russian Jack Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Russian Jack Park is $1,471 while the city average is $1,298. This is a 2.6% difference from last year. Residents enjoy convenient access to Alaska Museum of Natural History, Alaska Pacific University, and BLM Campbell Creek Science Center. The neighborhood is considered somewhat walkable with a WalkScore® of 58.
Turnagain South/Columbia Park
Average Rent
$1,500/Month
TransitScore® Rating
26/100
Units Available
1 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Turnagain South/Columbia Park. The average rent is $1,500, compared to the city average of $1,298. Turnagain South/Columbia Park is convenient to Alaska Pacific University, Anchorage Park Foundation, and Aurora Village. The community is car-dependent with a WalkScore® of 36.
Northeast Anchorage
Average Rent
$1,558/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
37/100
Units Available
6 Rentals
Northeast Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,558. Compare this to the city average of $1,298. In the past year, rent prices have increased by 3%. Northeast Anchorage provides easy access to Alaska Botanical Garden, Russian Jack Plaza, and Eastgate Shopping Center. It’s a somewhat walkable neighborhood with a WalkScore® of 58.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.