Best Affordable Neighborhoods in Anchorage, AK
Some of the cheapest neighborhoods in Anchorage are Mount Vernon Commons, Midtown Anchorage, and Spenard. These neighborhoods offer some of the lowest rent prices in Anchorage, making them ideal for renters on a budget. As of January 29, 2026, the average rent in Anchorage is $1,332, which is 1.8% 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.
Mount Vernon Commons
Average Rent
$1,267/Month
Units Available
10 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Mount Vernon Commons. The average rent is $1,267, compared to the city average of $1,332. Mount Vernon Commons is convenient to Anchorage Park Foundation, Merrill Field, and Alaska Museum of Natural History.
Midtown Anchorage
Average Rent
$1,294/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
37/100
Units Available
25 Rentals
Midtown Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,294. Compare this to the city average of $1,332. In the past year, rent prices have increased by 2.2%. Midtown Anchorage provides easy access to Alaska Museum of Natural History, Charter College-Anchorage, and Alaska Pacific University. It’s a walkable neighborhood with a WalkScore® of 70.
Spenard
Average Rent
$1,306/Month
Year-Over-Year Rent Change
2%
TransitScore® Rating
38/100
Units Available
39 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 $1,306, while the city’s average stands at $1,332. In the last year, prices have increased by 2%. Spenard is near Choi's Plaza, BLM Campbell Creek Science Center, and Tony Knowles Coastal Trail.
North Star
Average Rent
$1,377/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
42/100
Units Available
63 Rentals
North Star is a top choice for budget-conscious renters for a variety of reasons. The average rent in North Star is $1,377 while the city average is $1,332. This is a 0.9% difference from last year. Residents enjoy convenient access to Alaska Pacific University, Anchorage Park Foundation, and Alaska Botanical Garden. The neighborhood is considered walkable with a WalkScore® of 72.
Russian Jack Park
Average Rent
$1,391/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
39/100
Units Available
13 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Russian Jack Park. The average rent is $1,391, compared to the city average of $1,332. Rent prices have increased by 0.9%. Russian Jack Park is convenient to Anchorage Park Foundation, BLM Campbell Creek Science Center, and Anchorage Museum. The community is somewhat walkable with a WalkScore® of 58.
Taku/Campbell
Average Rent
$1,427/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
30/100
Units Available
10 Rentals
Taku/Campbell is an affordable neighborhood in Anchorage with an average rent price of $1,427. Compare this to the city average of $1,332. In the past year, rent prices have decreased by 0.1%. Taku/Campbell provides easy access to Anchorage Museum, Anchorage Park Foundation, and University of Alaska Anchorage. It’s a somewhat walkable neighborhood with a WalkScore® of 57.
Northeast Anchorage
Average Rent
$1,519/Month
Year-Over-Year Rent Change
5.6%
TransitScore® Rating
37/100
Units Available
12 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 $1,519, while the city’s average stands at $1,332. In the last year, prices have increased by 5.6%. Northeast Anchorage is near Alaska Botanical Garden, Charter College-Anchorage, and Ted Stevens Anchorage International.
Downtown Anchorage
Average Rent
$1,542/Month
Year-Over-Year Rent Change
1.8%
TransitScore® Rating
41/100
Units Available
157 Rentals
Downtown Anchorage is a top choice for budget-conscious renters for a variety of reasons. The average rent in Downtown Anchorage is $1,542 while the city average is $1,332. This is a 1.8% difference from last year. Residents enjoy convenient access to Northway Mall, Tony Knowles Coastal Trail, and Ted Stevens Anchorage International. The neighborhood is considered somewhat walkable with a WalkScore® of 68.
South Anchorage
Average Rent
$1,723/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
25/100
Units Available
72 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out South Anchorage. The average rent is $1,723, compared to the city average of $1,332. Rent prices have increased by 1.5%. South Anchorage is convenient to Dimond Crossing, Alaska Botanical Garden, and Ted Stevens Anchorage International. The community is somewhat walkable with a WalkScore® of 53.
Campbell Park
Average Rent
$1,739/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
34/100
Units Available
59 Rentals
Campbell Park is an affordable neighborhood in Anchorage with an average rent price of $1,739. Compare this to the city average of $1,332. In the past year, rent prices have increased by 1.6%. Campbell Park provides easy access to BLM Campbell Creek Science Center, Lake Otis & Tudor Center, and Postal Plaza. It’s a somewhat walkable neighborhood with a WalkScore® of 60.
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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.