Alaska, known as the “Last frontier”, living in this country can truly be an exciting experience for someone, as it offers lots of living opportunities for every individual.

However, one of the known drawbacks that it has aside from cold and it is known to have dark winters. Is the high cost of living that is has. There are certain areas of the country that is known to be much higher than the others.

Anchorage on the other hand which is the largest city in Alaska is known to be the most expensive place in the state.

During 2007, Anchorage’s population was about 280,000 with an average income of $69,000 as well as an average residence cost amounting to $277,500. People who were seeking to buy a single-family home way back then had to disburse an average of $355,000. Renters on the other hand had to release a check for $975 every month.

Such figures may not bother you at first glance, or you may even consider it a bit lower than in some area in the country. However, such figures are quite deceiving. A more comprehensive study into these figures reveals 7.3% or an estimate of almost 20,400 people in Anchorage is living in poverty line. Staying in mobile home which roughly costs $15,000 or living in decaying rentals of $350 a month.

On the lighter side of such distressing given figures, a huge portion of the City’s populace lives in homes which costs $500,00, while some are living in places such as potters Marsh which costs millions as well as on the hillside. Though both sides may present extreme opposite figures, one must look on the aspect of cost of living to be able to understand the sum of money that you need to posses just to line in Anchorage Alaska.

A current research indicates that the cost of living in Anchorage Alaska can be compared to those who are living in Long Island, New York.  Since such place is known likewise to be one of the most expensive places to live in the east coast area. Another aspect that needs to be considered of when judging the cost is by finding out the military compensation in that particular area.

In Anchorage, an 8 year veteran E-6 with three dependents is allotted by the City with $1,961 a month for housing alone. Such veteran receives an additional amount of $575 a month for its living allowance (COLA), this is to help counterbalance the increased daily expenses of living on the said City.

Comparing such veteran to another stationed in Maryland, which is also known to be an expensive location. Such veteran may receive $2,054 only for his housing without the benefits of a COLA. Through this alone you’ll be able to understand how much it takes to support a family or even by yourself in Anchorage.

Having said that, there are several ways people and families should learn how to cope with such expensive kind of place to live in this All-American City. All you need to do is learn how to look and where to find your dream place.