Cheapest Neighborhoods in Anchorage, AK
Some of the cheapest neighborhoods in Anchorage are Midtown Anchorage, Spenard, and Northeast Anchorage. These neighborhoods offer some of the lowest rent prices in Anchorage, making them ideal for renters on a budget. As of September 13, 2026, the average rent in Anchorage is $1,369, 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
$1,304/Month
Year-Over-Year Rent Change
2.7%
Units Available
27 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 $1,304, while the city’s average stands at $1,369. In the last year, prices have increased by 2.7%. Midtown Anchorage is near Andover Center, Merrill Field, and Tony Knowles Coastal Trail.
Spenard
Average Rent
$1,331/Month
Year-Over-Year Rent Change
0.1%
Units Available
35 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 $1,369. This is a 0.1% difference from last year. Residents enjoy convenient access to Charter College-Anchorage, Alaska Pacific University, and Tony Knowles Coastal Trail.
Northeast Anchorage
Average Rent
$1,463/Month
Year-Over-Year Rent Change
1.6%
Units Available
12 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Northeast Anchorage. The average rent is $1,463, compared to the city average of $1,369. Rent prices have increased by 1.6%. Northeast Anchorage is convenient to Far North Bicentennial Park, 7701 Debarr Rd, and Alaska Botanical Garden.
Downtown Anchorage
Average Rent
$1,495/Month
Year-Over-Year Rent Change
2.4%
Units Available
150 Rentals
Downtown Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,495. Compare this to the city average of $1,369. In the past year, rent prices have increased by 2.4%. Downtown Anchorage provides easy access to Anchorage Park Foundation, Anchorage Museum, and University of Alaska Anchorage.
North Star
Average Rent
$1,528/Month
Year-Over-Year Rent Change
4.4%
Units Available
64 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, North Star might be the perfect place! It has an average rent price of $1,528, while the city’s average stands at $1,369. In the last year, prices have increased by 4.4%. North Star is near Tony Knowles Coastal Trail, Alaska Museum of Natural History, and Anchorage Park Foundation.
South Anchorage
Average Rent
$1,665/Month
Year-Over-Year Rent Change
2.9%
Units Available
64 Rentals
South Anchorage is a top choice for budget-conscious renters for a variety of reasons. The average rent in South Anchorage is $1,665 while the city average is $1,369. This is a 2.9% difference from last year. Residents enjoy convenient access to Merrill Field, Dimond Crossing, and Charter College-Anchorage.
South Addition
Average Rent
$1,671/Month
Year-Over-Year Rent Change
2.2%
Units Available
18 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out South Addition. The average rent is $1,671, compared to the city average of $1,369. Rent prices have decreased by 2.2%. South Addition is convenient to Fairview Shopping Center, Ted Stevens Anchorage International, and Tony Knowles Coastal Trail.
Campbell Park
Average Rent
$1,705/Month
Year-Over-Year Rent Change
2.8%
Units Available
49 Rentals
Campbell Park is an affordable neighborhood in Anchorage with an average rent price of $1,705. Compare this to the city average of $1,369. In the past year, rent prices have increased by 2.8%. Campbell Park provides easy access to Alaska Zoo, Hilltop Ski Area, and Charter College-Anchorage.
Abbott Loop
Average Rent
$1,901/Month
Year-Over-Year Rent Change
1.5%
Units Available
29 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Abbott Loop might be the perfect place! It has an average rent price of $1,901, while the city’s average stands at $1,369. In the last year, prices have increased by 1.5%. Abbott Loop is near BLM Campbell Creek Science Center, Alaska Botanical Garden, and Hilltop Ski Area.
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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.