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Homeownership is to the American dream. It offers , security, community, and countless other benefits. Yet for many Alaska residents, the dream feels increasingly out of reach—even as and fall. Near-record prices have made homes hard to come by and often even harder to afford, leaving buyers and sellers and younger generations .

But affordable pockets still exist. In cities across the state, residents can comfortably spend around 30% of their income or less on housing, which is widely considered the affordable threshold.

To find out where these cities are, ranked the most affordable cities in Alaska, based on their local payment to income ratios. All data is an average for the January-October 2025 period. To see the most affordable cities in the country, read this .

#1. Gateway, Alaska
- Payment to income ratio: 29.2%
- Median sale price: $522,826
- Median household income: $137,150
- Income needed to buy: $133,510
- Median monthly mortgage payment: $3,338
- See homes for sale in Gateway on

#2. North Lakes, Alaska
- Payment to income ratio: 30.0%
- Median sale price: $402,809
- Median household income: $102,785
- Income needed to buy: $102,862
- Median monthly mortgage payment: $2,572
- See homes for sale in North Lakes on

#3. Butte, Alaska
- Payment to income ratio: 32.0%
- Median sale price: $441,391
- Median household income: $105,625
- Income needed to buy: $112,715
- Median monthly mortgage payment: $2,818
- See homes for sale in Butte on

#4. Knik-Fairview, Alaska
- Payment to income ratio: 32.9%
- Median sale price: $408,313
- Median household income: $95,000
- Income needed to buy: $104,268
- Median monthly mortgage payment: $2,607
- See homes for sale in Knik-Fairview on

#5. Tanaina, Alaska
- Payment to income ratio: 33.3%
- Median sale price: $415,666
- Median household income: $95,587
- Income needed to buy: $106,146
- Median monthly mortgage payment: $2,654
- See homes for sale in Tanaina on

#6. Anchorage, Alaska
- Payment to income ratio: 36.8%
- Median sale price: $471,031
- Median household income: $98,152
- Income needed to buy: $120,284
- Median monthly mortgage payment: $3,007
- See homes for sale in Anchorage on

#7. Big Lake, Alaska
- Payment to income ratio: 37.2%
- Median sale price: $370,727
- Median household income: $76,292
- Income needed to buy: $94,670
- Median monthly mortgage payment: $2,367
- See homes for sale in Big Lake on

#8. Meadow Lakes, Alaska
- Payment to income ratio: 37.4%
- Median sale price: $397,164
- Median household income: $81,250
- Income needed to buy: $101,421
- Median monthly mortgage payment: $2,536
- See homes for sale in Meadow Lakes on

#9. South Lakes, Alaska
- Payment to income ratio: 37.7%
- Median sale price: $440,867
- Median household income: $89,632
- Income needed to buy: $112,581
- Median monthly mortgage payment: $2,815
- See homes for sale in South Lakes on

#10. Fishhook, Alaska
- Payment to income ratio: 38.4%
- Median sale price: $508,931
- Median household income: $101,518
- Income needed to buy: $129,962
- Median monthly mortgage payment: $3,249
- See homes for sale in Fishhook on

#11. Palmer, Alaska
- Payment to income ratio: 42.0%
- Median sale price: $386,832
- Median household income: $70,550
- Income needed to buy: $98,783
- Median monthly mortgage payment: $2,470
- See homes for sale in Palmer on