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 January 27, 2025, the average rent in Anchorage is $1,289, which is 2.7% 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
$1,050/Month
TransitScore® Rating
31/100
Units Available
2 Rentals
Government Hill is an affordable neighborhood in Anchorage with an average rent price of $1,050. Compare this to the city average of $1,289. Government Hill provides easy access to Tony Knowles Coastal Trail, Charter College-Anchorage, and Ted Stevens Anchorage International. It’s a car-dependent neighborhood with a WalkScore® of 26.
Turnagain Arm
Average Rent
$1,100/Month
TransitScore® Rating
0/100
Units Available
1 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Turnagain Arm might be the perfect place! It has an average rent price of $1,100, while the city’s average stands at $1,289. Turnagain Arm is near University of Alaska Anchorage, Charter College-Anchorage, and Alaska Pacific University.
Rogers Park
Average Rent
$1,225/Month
Year-Over-Year Rent Change
5.8%
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 $1,289. This is a 5.8% difference from last year. Residents enjoy convenient access to Merrill Field, University of Alaska Anchorage, and Anchorage Museum. The neighborhood is considered somewhat walkable with a WalkScore® of 59.
Midtown Anchorage
Average Rent
$1,252/Month
Year-Over-Year Rent Change
4%
TransitScore® Rating
37/100
Units Available
13 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Midtown Anchorage. The average rent is $1,252, compared to the city average of $1,289. Rent prices have increased by 4%. Midtown Anchorage is convenient to Ted Stevens Anchorage International, Anchorage Museum, and University of Alaska Anchorage. The community is walkable with a WalkScore® of 70.
North Star
Average Rent
$1,292/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
42/100
Units Available
30 Rentals
North Star is an affordable neighborhood in Anchorage with an average rent price of $1,292. Compare this to the city average of $1,289. In the past year, rent prices have increased by 1.2%. North Star provides easy access to Alaska Botanical Garden, Fairview Shopping Center, and Anchorage Park Foundation. It’s a walkable neighborhood with a WalkScore® of 72.
Spenard
Average Rent
$1,354/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
38/100
Units Available
25 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Spenard might be the perfect place! It has an average rent price of $1,354, while the city’s average stands at $1,289. In the last year, prices have increased by 2.2%. Spenard is near Merrill Field, University of Alaska Anchorage, and Olympic Center.
Taku/Campbell
Average Rent
$1,373/Month
Year-Over-Year Rent Change
4.7%
TransitScore® Rating
30/100
Units Available
12 Rentals
Taku/Campbell is a top choice for budget-conscious renters for a variety of reasons. The average rent in Taku/Campbell is $1,373 while the city average is $1,289. This is a 4.7% difference from last year. Residents enjoy convenient access to BLM Campbell Creek Science Center, Merrill Field, and King's Row Shopping Center. The neighborhood is considered somewhat walkable with a WalkScore® of 57.
Downtown Anchorage
Average Rent
$1,421/Month
Year-Over-Year Rent Change
2.1%
TransitScore® Rating
41/100
Units Available
93 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Downtown Anchorage. The average rent is $1,421, compared to the city average of $1,289. Rent prices have increased by 2.1%. Downtown Anchorage is convenient to Charter College-Anchorage, Northway Mall, and Fairview Shopping Center. The community is somewhat walkable with a WalkScore® of 68.
Northeast Anchorage
Average Rent
$1,425/Month
Year-Over-Year Rent Change
3.6%
TransitScore® Rating
37/100
Units Available
8 Rentals
Northeast Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,425. Compare this to the city average of $1,289. In the past year, rent prices have increased by 3.6%. Northeast Anchorage provides easy access to Ted Stevens Anchorage International, Northern Lights & Muldoon Shopping Center, and Russian Jack Plaza. It’s a somewhat walkable neighborhood with a WalkScore® of 58.
Russian Jack Park
Average Rent
$1,475/Month
Year-Over-Year Rent Change
1.8%
TransitScore® Rating
39/100
Units Available
8 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Russian Jack Park might be the perfect place! It has an average rent price of $1,475, while the city’s average stands at $1,289. In the last year, prices have increased by 1.8%. Russian Jack Park is near Anchorage Park Foundation, Charter College-Anchorage, and Alaska Pacific University.
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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.