Most Affordable Neighborhoods in Anchorage, AK
Some of the cheapest neighborhoods in Anchorage are Government Hill, Rogers Park, and Midtown Anchorage. These neighborhoods offer some of the lowest rent prices in Anchorage, making them ideal for renters on a budget. As of April 29, 2025, the average rent in Anchorage is $1,299, which is 1.1% 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
$1,075/Month
TransitScore® Rating
31/100
Units Available
3 Rentals
Government Hill is an affordable neighborhood in Anchorage with an average rent price of $1,075. Compare this to the city average of $1,299. Government Hill provides easy access to Anchorage Park Foundation, Ted Stevens Anchorage International, and Anchorage Museum. It’s a car-dependent neighborhood with a WalkScore® of 26.
Rogers Park
Average Rent
$1,225/Month
Year-Over-Year Rent Change
6.3%
TransitScore® Rating
36/100
Units Available
2 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Rogers Park might be the perfect place! It has an average rent price of $1,225, while the city’s average stands at $1,299. In the last year, prices have increased by 6.3%. Rogers Park is near North Star Centre, University of Alaska Anchorage, and Tony Knowles Coastal Trail.
Midtown Anchorage
Average Rent
$1,243/Month
Year-Over-Year Rent Change
4.9%
TransitScore® Rating
37/100
Units Available
15 Rentals
Midtown Anchorage is a top choice for budget-conscious renters for a variety of reasons. The average rent in Midtown Anchorage is $1,243 while the city average is $1,299. This is a 4.9% difference from last year. Residents enjoy convenient access to Alaska Museum of Natural History, Anchorage Museum, and Alaska Pacific University. The neighborhood is considered walkable with a WalkScore® of 70.
Russian Jack Park
Average Rent
$1,276/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
39/100
Units Available
7 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Russian Jack Park. The average rent is $1,276, compared to the city average of $1,299. Rent prices have increased by 1.5%. Russian Jack Park is convenient to Eastgate Shopping Center, BLM Campbell Creek Science Center, and Northway Mall. The community is somewhat walkable with a WalkScore® of 58.
Northeast Anchorage
Average Rent
$1,300/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
37/100
Units Available
5 Rentals
Northeast Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,300. Compare this to the city average of $1,299. In the past year, rent prices have increased by 3%. Northeast Anchorage provides easy access to Russian Jack Plaza, Charter College-Anchorage, and Ted Stevens Anchorage International. It’s a somewhat walkable neighborhood with a WalkScore® of 58.
Taku/Campbell
Average Rent
$1,348/Month
Year-Over-Year Rent Change
1.4%
TransitScore® Rating
30/100
Units Available
13 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Taku/Campbell might be the perfect place! It has an average rent price of $1,348, while the city’s average stands at $1,299. In the last year, prices have increased by 1.4%. Taku/Campbell is near Dimond Center, Ted Stevens Anchorage International, and King's Row Shopping Center.
North Star
Average Rent
$1,365/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
42/100
Units Available
31 Rentals
North Star is a top choice for budget-conscious renters for a variety of reasons. The average rent in North Star is $1,365 while the city average is $1,299. This is a 2.5% difference from last year. Residents enjoy convenient access to Tony Knowles Coastal Trail, Anchorage 5th Avenue Mall, and Alaska Botanical Garden. The neighborhood is considered walkable with a WalkScore® of 72.
Spenard
Average Rent
$1,370/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
38/100
Units Available
20 Rentals
When you’re looking for a great Anchorage neighborhood on a budget, check out Spenard. The average rent is $1,370, compared to the city average of $1,299. Rent prices have decreased by 0.4%. Spenard is convenient to Anchorage Museum, University of Alaska Anchorage, and Anchorage Park Foundation. The community is walkable with a WalkScore® of 78.
Downtown Anchorage
Average Rent
$1,390/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
41/100
Units Available
91 Rentals
Downtown Anchorage is an affordable neighborhood in Anchorage with an average rent price of $1,390. Compare this to the city average of $1,299. In the past year, rent prices have increased by 1.1%. Downtown Anchorage provides easy access to Ted Stevens Anchorage International, Glenn Square Shopping Center, and University of Alaska Anchorage. It’s a somewhat walkable neighborhood with a WalkScore® of 68.
Turnagain South/Columbia Park
Average Rent
$1,500/Month
TransitScore® Rating
26/100
Units Available
1 Rentals
If you’re looking for a great, affordable neighborhood in Anchorage, Turnagain South/Columbia Park might be the perfect place! It has an average rent price of $1,500, while the city’s average stands at $1,299. Turnagain South/Columbia Park is near University of Alaska Anchorage, BLM Campbell Creek Science Center, and Ted Stevens Anchorage International.
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.