Most Affordable Neighborhoods in Anchorage, AK
Some of the cheapest neighborhoods in Anchorage are Midtown Anchorage, Taku/Campbell, and North Star. These neighborhoods offer some of the lowest rent prices in Anchorage, making them ideal for renters on a budget. As of June 14, 2025, the average rent in Anchorage is $1,317, which is 2.5% 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.
Midtown Anchorage
Average Rent
$1,323/Month
Year-Over-Year Rent Change
5.5%
TransitScore® Rating
37/100
Units Available
14 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 $1,323, while the city’s average stands at $1,317. In the last year, prices have increased by 5.5%. Midtown Anchorage is near Anchorage Museum, Debenham Plaza, and Merrill Field.
Taku/Campbell
Average Rent
$1,338/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
30/100
Units Available
11 Rentals
Taku/Campbell is a top choice for budget-conscious renters for a variety of reasons. The average rent in Taku/Campbell is $1,338 while the city average is $1,317. This is a 1.6% difference from last year. Residents enjoy convenient access to Alaska Zoo, Anchorage Museum, and University of Alaska Anchorage. The neighborhood is considered somewhat walkable with a WalkScore® of 57.
North Star
Average Rent
$1,348/Month
Year-Over-Year Rent Change
2.9%
TransitScore® Rating
42/100
Units Available
27 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out North Star. The average rent is $1,348, compared to the city average of $1,317. Rent prices have increased by 2.9%. North Star is convenient to University of Alaska Anchorage, Alaska Museum of Natural History, and Merrill Field. The community is walkable with a WalkScore® of 72.
Spenard
Average Rent
$1,455/Month
Year-Over-Year Rent Change
3.2%
TransitScore® Rating
38/100
Units Available
22 Rentals
Spenard is an affordable neighborhood in Anchorage with an average rent price of $1,455. Compare this to the city average of $1,317. In the past year, rent prices have increased by 3.2%. Spenard provides easy access to Tony Knowles Coastal Trail, University of Alaska Anchorage, and Ted Stevens Anchorage International. It’s a walkable neighborhood with a WalkScore® of 78.
Downtown Anchorage
Average Rent
$1,461/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
41/100
Units Available
84 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 $1,461, while the city’s average stands at $1,317. In the last year, prices have increased by 2.8%. Downtown Anchorage is near Charter College-Anchorage, Northway Mall, and Merrill Field.
South Addition
Average Rent
$1,559/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
49/100
Units Available
19 Rentals
South Addition is a top choice for budget-conscious renters for a variety of reasons. The average rent in South Addition is $1,559 while the city average is $1,317. This is a 0.1% difference from last year. Residents enjoy convenient access to Ted Stevens Anchorage International, Merrill Field, and Charter College-Anchorage. The neighborhood is considered walkable with a WalkScore® of 78.
South Anchorage
Average Rent
$1,661/Month
Year-Over-Year Rent Change
1.8%
TransitScore® Rating
25/100
Units Available
53 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out South Anchorage. The average rent is $1,661, compared to the city average of $1,317. Rent prices have increased by 1.8%. South Anchorage is convenient to Alaska Pacific University, University of Alaska Anchorage, and Ted Stevens Anchorage International. The community is somewhat walkable with a WalkScore® of 53.
Sand Lake
Average Rent
$1,702/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
16/100
Units Available
11 Rentals
Sand Lake is an affordable neighborhood in Anchorage with an average rent price of $1,702. Compare this to the city average of $1,317. In the past year, rent prices have increased by 3.5%. Sand Lake provides easy access to Anchorage Museum, University of Alaska Anchorage, and Jewel Lake West Shopping Center. It’s a car-dependent neighborhood with a WalkScore® of 40.
Campbell Park
Average Rent
$1,710/Month
Year-Over-Year Rent Change
2%
TransitScore® Rating
34/100
Units Available
35 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Campbell Park might be the perfect place! It has an average rent price of $1,710, while the city’s average stands at $1,317. In the last year, prices have increased by 2%. Campbell Park is near Alaska Zoo, Merrill Field, and Northern Lights Shopping Center.
Abbott Loop
Average Rent
$1,826/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
26/100
Units Available
27 Rentals
Abbott Loop is a top choice for budget-conscious renters for a variety of reasons. The average rent in Abbott Loop is $1,826 while the city average is $1,317. This is a 0.9% difference from last year. Residents enjoy convenient access to Ted Stevens Anchorage International, Far North Bicentennial Park, and Charter College-Anchorage. The neighborhood is considered somewhat walkable with a WalkScore® of 57.
Ready to make your move to Anchorage? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.