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 November 25, 2024, the average rent in Anchorage is $1,278, which is 2.6% 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
3 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Government Hill might be the perfect place! It has an average rent price of $1,075, while the city’s average stands at $1,278. Government Hill is near Alaska Botanical Garden, Anchorage Park Foundation, and Anchorage Museum.
Rogers Park
Average Rent
$1,225/Month
Year-Over-Year Rent Change
5.6%
TransitScore® Rating
36/100
Units Available
1 Rentals
Rogers Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Rogers Park is $1,225 while the city average is $1,278. This is a 5.6% difference from last year. Residents enjoy convenient access to Alaska Pacific University, Anchorage Park Foundation, and Tony Knowles Coastal Trail. The neighborhood is considered somewhat walkable with a WalkScore® of 59.
Midtown Anchorage
Average Rent
$1,267/Month
Year-Over-Year Rent Change
3.6%
TransitScore® Rating
37/100
Units Available
11 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Midtown Anchorage. The average rent is $1,267, compared to the city average of $1,278. Rent prices have increased by 3.6%. Midtown Anchorage is convenient to Alaska Museum of Natural History, Alaska Pacific University, and University of Alaska Anchorage. The community is walkable with a WalkScore® of 70.
Turnagain South/Columbia Park
Average Rent
$1,333/Month
TransitScore® Rating
26/100
Units Available
3 Rentals
Turnagain South/Columbia Park is an affordable neighborhood in Anchorage with an average rent price of $1,333. Compare this to the city average of $1,278. Turnagain South/Columbia Park provides easy access to Aurora Village, BLM Campbell Creek Science Center, and Anchorage Museum. It’s a car-dependent neighborhood with a WalkScore® of 36.
Taku/Campbell
Average Rent
$1,368/Month
Year-Over-Year Rent Change
7.9%
TransitScore® Rating
30/100
Units Available
12 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Taku/Campbell might be the perfect place! It has an average rent price of $1,368, while the city’s average stands at $1,278. In the last year, prices have increased by 7.9%. Taku/Campbell is near University of Alaska Anchorage, Dimond Crossing, and Anchorage Park Foundation.
Spenard
Average Rent
$1,380/Month
Year-Over-Year Rent Change
4%
TransitScore® Rating
38/100
Units Available
23 Rentals
Spenard is a top choice for budget-conscious renters for a variety of reasons. The average rent in Spenard is $1,380 while the city average is $1,278. This is a 4% difference from last year. Residents enjoy convenient access to Merrill Field, BLM Campbell Creek Science Center, and Ted Stevens Anchorage International. The neighborhood is considered walkable with a WalkScore® of 78.
North Star
Average Rent
$1,391/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
42/100
Units Available
37 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out North Star. The average rent is $1,391, compared to the city average of $1,278. Rent prices have increased by 0.4%. North Star is convenient to Anchorage 5th Avenue Mall, Fairview Shopping Center, and Ted Stevens Anchorage International. The community is walkable with a WalkScore® of 72.
Northeast Anchorage
Average Rent
$1,435/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
37/100
Units Available
10 Rentals
Northeast Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,435. Compare this to the city average of $1,278. In the past year, rent prices have increased by 3%. Northeast Anchorage provides easy access to University of Alaska Anchorage, Eastgate Shopping Center, and Charter College-Anchorage. It’s a somewhat walkable neighborhood with a WalkScore® of 58.
Downtown Anchorage
Average Rent
$1,456/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
41/100
Units Available
113 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 $1,456, while the city’s average stands at $1,278. In the last year, prices have increased by 3%. Downtown Anchorage is near Glenn Square Shopping Center, Northway Mall, and Alaska Botanical Garden.
Sand Lake
Average Rent
$1,479/Month
Year-Over-Year Rent Change
6.2%
TransitScore® Rating
16/100
Units Available
12 Rentals
Sand Lake is a top choice for budget-conscious renters for a variety of reasons. The average rent in Sand Lake is $1,479 while the city average is $1,278. This is a 6.2% difference from last year. Residents enjoy convenient access to Charter College-Anchorage, Jewel Lake West Shopping Center, and Alaska Pacific University. The neighborhood is considered car-dependent with a WalkScore® of 40.
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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.