Most Affordable Neighborhoods in Anchorage, AK
Some of the cheapest neighborhoods in Anchorage are Government Hill, Turnagain Arm, and Rogers Park. These neighborhoods offer some of the lowest rent prices in Anchorage, making them ideal for renters on a budget. As of February 28, 2025, the average rent in Anchorage is $1,296, which is 3.1% 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
2 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 $1,296. Government Hill is near Alaska Botanical Garden, Anchorage 5th Avenue Mall, and Fairview Shopping Center.
Turnagain Arm
Average Rent
$1,100/Month
TransitScore® Rating
0/100
Units Available
1 Rentals
Turnagain Arm is a top choice for budget-conscious renters for a variety of reasons. The average rent in Turnagain Arm is $1,100 while the city average is $1,296. Residents enjoy convenient access to Ted Stevens Anchorage International, University of Alaska Anchorage, and Charter College-Anchorage. The neighborhood is considered car-dependent with a WalkScore® of 4.
Rogers Park
Average Rent
$1,225/Month
Year-Over-Year Rent Change
6%
TransitScore® Rating
36/100
Units Available
1 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Rogers Park. The average rent is $1,225, compared to the city average of $1,296. Rent prices have increased by 6%. Rogers Park is convenient to Alaska Museum of Natural History, Merrill Field, and Alaska Pacific University. The community is somewhat walkable with a WalkScore® of 59.
Midtown Anchorage
Average Rent
$1,228/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
37/100
Units Available
16 Rentals
Midtown Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,228. Compare this to the city average of $1,296. In the past year, rent prices have increased by 4.5%. Midtown Anchorage provides easy access to Ted Stevens Anchorage International, Alaska Pacific University, and Andover Center. It’s a walkable neighborhood with a WalkScore® of 70.
Turnagain South/Columbia Park
Average Rent
$1,325/Month
TransitScore® Rating
26/100
Units Available
2 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Turnagain South/Columbia Park might be the perfect place! It has an average rent price of $1,325, while the city’s average stands at $1,296. Turnagain South/Columbia Park is near Charter College-Anchorage, Alaska Museum of Natural History, and Anchorage Park Foundation.
Spenard
Average Rent
$1,331/Month
Year-Over-Year Rent Change
1.4%
TransitScore® Rating
38/100
Units Available
25 Rentals
Spenard is a top choice for budget-conscious renters for a variety of reasons. The average rent in Spenard is $1,331 while the city average is $1,296. This is a 1.4% difference from last year. Residents enjoy convenient access to Ted Stevens Anchorage International, University of Alaska Anchorage, and Tony Knowles Coastal Trail. The neighborhood is considered walkable with a WalkScore® of 78.
Russian Jack Park
Average Rent
$1,350/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
39/100
Units Available
10 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Russian Jack Park. The average rent is $1,350, compared to the city average of $1,296. Rent prices have increased by 1.7%. Russian Jack Park is convenient to Anchorage Museum, Anchorage Park Foundation, and BLM Campbell Creek Science Center. The community is somewhat walkable with a WalkScore® of 58.
North Star
Average Rent
$1,353/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
42/100
Units Available
29 Rentals
North Star is an affordable neighborhood in Anchorage with an average rent price of $1,353. Compare this to the city average of $1,296. In the past year, rent prices have increased by 3.5%. North Star provides easy access to The Bear Square, Fairview Shopping Center, and Anchorage 5th Avenue Mall. It’s a walkable neighborhood with a WalkScore® of 72.
Northeast Anchorage
Average Rent
$1,395/Month
Year-Over-Year Rent Change
3.6%
TransitScore® Rating
37/100
Units Available
10 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Northeast Anchorage might be the perfect place! It has an average rent price of $1,395, while the city’s average stands at $1,296. In the last year, prices have increased by 3.6%. Northeast Anchorage is near Eastgate Shopping Center, Alaska Pacific University, and Far North Bicentennial Park.
Taku/Campbell
Average Rent
$1,401/Month
Year-Over-Year Rent Change
4.7%
TransitScore® Rating
30/100
Units Available
10 Rentals
Taku/Campbell is a top choice for budget-conscious renters for a variety of reasons. The average rent in Taku/Campbell is $1,401 while the city average is $1,296. This is a 4.7% difference from last year. Residents enjoy convenient access to University of Alaska Anchorage, Tony Knowles Coastal Trail, and Anchorage Museum. The neighborhood is considered somewhat walkable with a WalkScore® of 57.
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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.