Planning on moving to Alaska? You’re not alone! More than 30,676 people moved to the Last Frontier State in 2023. It also ranks among the top 10 states in the nation for healthcare quality and economic opportunity. With this growth, the state’s population has hit 733,536 in 2024.
The Last Frontier State has a robust job market and is expected to add 5,400 new jobs by the end of 2024. Known for its scenic landscapes, vast wilderness, and Northern lights, Alaska offers a lifestyle deeply connected to nature and outdoor adventure.
3 Reasons to Move to Alaska
Alaska is one of the favorite relocation destinations for Americans. Here are 3 reasons to move to AK.
| # | Reasons to Move to AK | Highlights |
|---|---|---|
| 1. | Permanent Fund Dividend | In 2024, the Permanent Fund Dividend is $1,702 per person. |
| 2. | Tax Benefits | The Mount Rushmore State aims to add 41,121 new jobs by 2030 across different sectors. |
| 3. | Natural Environment | Alaska is the least densely populated state with 1.3 people per square mile. |
1. Permanent Fund Dividend
The Permanent Fund Dividend (PFD) is an annual payment given to eligible Alaska residents from the state’s oil revenue. In 2024, the dividend is $1,702 per person. To qualify, residents must live in Alaska for at least one year and meet other eligibility requirements.
If you plan to move to Alaska, the PFD offers a significant financial boost. It helps with high living costs, especially in remote areas. This payment adds to your income and is a unique benefit not found in most states.
2. Tax Benefits
Alaska is among the top US states that levy zero state income tax. For example, if you earn $70,000 in Alaska, your after-tax income totals $62,340. In California, your post-tax income is approximately $59,552. This means you can save nearly $3,000 in taxes annually by living in the Last Frontier State.
However, Alaska is considered a high property tax state, with property taxes at 1.22%. On the other hand, the state does not impose any sales tax.
3. Natural Environment
With just 1.3 people per square mile, Alaska is the least densely populated state in the U.S. It is home to 17 of the 20 tallest peaks in North America, including Denali at 20,310 feet. The state features over 100,000 glaciers, 3,000 rivers, and more than 3 million lakes.
Alaska’s wilderness spans 663,000 square miles, including Kenai Fjords National Park and the Tongass National Forest, the largest in the U.S. Fairbanks offers some of the best views of the aurora borealis, making Alaska a top destination for outdoor enthusiasts and adventurers.
Cost of Moving to Alaska 💲
There are additional costs involved in moving from one state to another. Here’s a breakdown of costs you may incur while relocating to AK:
1. Moving Costs ≈ $400 to $10,000
Moving to Alaska involves several costs, including the costs involved in moving your belongings.
- Alaska movers typically start at $35. However, this figure depends entirely on your belongings and the distance traveled.
- If you want to DIY your move, renting a truck can be a better option. The average rent of a mid-size moving truck with a load capacity of 4,000-6,000 pounds ranges between $40 and $80 per day.
- 👉 Tip: Moving can be expensive, especially if you are selling your home before you move. In this case, you can use a Flat Fee MLS company to save on listing agent commissions. This way, you can have additional cash when you move to Alaska.
2. Utility Expenses ≈ $400 to $600 Per Month
Apart from moving and housing costs, you will have to incur utility expenses when migrating to Alaska.
- When relocating to Alaska, you must set up utilities like gas, electricity, water, etc. The average cost of utilities in AK is around $411/month.
- You will have to register your vehicle in Alaska. The first-time registration cost of a passenger vehicle in AK can cost $100. A standard title fee costs $15.
3. Housing Costs
Housing costs in the Last Frontier State can vary depending on your location.
- In popular cities like Anchorage, Fairbanks, and Juneau, the average rent ranges between $1,000 and $2,000.
- However, buying can be complex as home prices vary across the state. Make sure you find cheap houses for sale in Alaska in your budget. Cities like Valdez have a median home price of $507K. On the other hand, the average cost of a home in small cities like Kenai is $345K.
4 Tips for a Seamless Move to Alaska ✅
Moving to a new place can be tough. Here are some tips to help you make a smooth transition.
- Research Cities and Neighborhoods: It’s important to research the area you want to live in. You must know if your home is in the city or suburbs. Find out where the nearby schools, hospitals, coffee shops, or restaurants are.
- Find the Living Costs: Your living costs will change once you migrate. Before moving to AK, get an estimate of the basic living expenses in your desired location.
- Visit the Neighborhood: Once you’ve decided where you want to live. You must visit that WyomingAlaska neighborhood in person and see what you feel about the area.
- Meet Your Neighbors: Connect with your neighbors and socialize. Local Facebook groups can be the best way to meet your neighbors.
