Most Affordable Neighborhoods in Anchorage, AK
Some of the cheapest neighborhoods in Anchorage are Midtown Anchorage, Taku/Campbell, and Spenard. These neighborhoods offer some of the lowest rent prices in Anchorage, making them ideal for renters on a budget. As of October 28, 2025, the average rent in Anchorage is $1,326, which is 2.3% 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
1.9%
TransitScore® Rating
37/100
Units Available
29 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Midtown Anchorage. The average rent is $1,323, compared to the city average of $1,326. Rent prices have increased by 1.9%. Midtown Anchorage is convenient to Alaska Museum of Natural History, Tudor Square, and Alaska Pacific University. The community is walkable with a WalkScore® of 70.
Taku/Campbell
Average Rent
$1,346/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 $1,346. Compare this to the city average of $1,326. In the past year, rent prices have decreased by 0.1%. Taku/Campbell provides easy access to King's Row Shopping Center, Anchorage Park Foundation, and Alaska Pacific University. It’s a somewhat walkable neighborhood with a WalkScore® of 57.
Spenard
Average Rent
$1,365/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
38/100
Units Available
35 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 $1,365, while the city’s average stands at $1,326. In the last year, prices have increased by 1%. Spenard is near BLM Campbell Creek Science Center, Anchorage Park Foundation, and Charter College-Anchorage.
North Star
Average Rent
$1,369/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
42/100
Units Available
56 Rentals
North Star is a top choice for budget-conscious renters for a variety of reasons. The average rent in North Star is $1,369 while the city average is $1,326. This is a 3.5% difference from last year. Residents enjoy convenient access to The Bear Square, Alaska Botanical Garden, and Anchorage Park Foundation. The neighborhood is considered walkable with a WalkScore® of 72.
Russian Jack Park
Average Rent
$1,401/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
39/100
Units Available
16 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Russian Jack Park. The average rent is $1,401, compared to the city average of $1,326. Rent prices have increased by 2.8%. Russian Jack Park is convenient to Eastgate Shopping Center, Merrill Field, and Anchorage Park Foundation. The community is somewhat walkable with a WalkScore® of 58.
Downtown Anchorage
Average Rent
$1,413/Month
Year-Over-Year Rent Change
2.3%
TransitScore® Rating
41/100
Units Available
151 Rentals
Downtown Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,413. Compare this to the city average of $1,326. In the past year, rent prices have increased by 2.3%. Downtown Anchorage provides easy access to Anchorage Museum, Alaska Museum of Natural History, and Anchorage Park Foundation. It’s a somewhat walkable neighborhood with a WalkScore® of 68.
Northeast Anchorage
Average Rent
$1,451/Month
Year-Over-Year Rent Change
5%
TransitScore® Rating
37/100
Units Available
14 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 $1,451, while the city’s average stands at $1,326. In the last year, prices have increased by 5%. Northeast Anchorage is near Alaska Museum of Natural History, Eastgate Shopping Center, and Northern Lights & Muldoon Shopping Center.
Simonian
Average Rent
$1,471/Month
TransitScore® Rating
27/100
Units Available
12 Rentals
Simonian is a top choice for budget-conscious renters for a variety of reasons. The average rent in Simonian is $1,471 while the city average is $1,326. Residents enjoy convenient access to Hilltop Ski Area, Far North Bicentennial Park, and Tudor Square. The neighborhood is considered car-dependent with a WalkScore® of 44.
Sand Lake
Average Rent
$1,656/Month
Year-Over-Year Rent Change
4.4%
TransitScore® Rating
16/100
Units Available
14 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Sand Lake. The average rent is $1,656, compared to the city average of $1,326. Rent prices have increased by 4.4%. Sand Lake is convenient to Anchorage Museum, Anchorage Park Foundation, and BLM Campbell Creek Science Center. The community is car-dependent with a WalkScore® of 40.
South Anchorage
Average Rent
$1,681/Month
Year-Over-Year Rent Change
2.3%
TransitScore® Rating
25/100
Units Available
74 Rentals
South Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,681. Compare this to the city average of $1,326. In the past year, rent prices have increased by 2.3%. South Anchorage provides easy access to Dimond Crossing, BLM Campbell Creek Science Center, and Hilltop Ski Area. It’s a somewhat walkable neighborhood with a WalkScore® of 53.
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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.