Cost of Living: Anchorage, AK vs Rochester, MN (2026)

Anchorage

Alaska
113
VS

Rochester

Minnesota
93

Anchorage is 22% more expensive than Rochester.

$1,453/mo ↑ 10%
Median Rent
$1,316/mo ↓ 9%
$98,152/yr ↑ 12%
Median Income
$87,767/yr ↓ 11%
$375,900 ↑ 31%
Home Value
$287,500 ↓ 24%
$1,698/mo ↑ 27%
Owner Costs
$1,332/mo ↓ 22%
289,069
Population
121,638

Tax Comparison

0%
Income Tax
9.85%
0%
State Sales Tax
6.875%
1.04%
Property Tax
1.11%

Affordability

17.8%
rent-to-income
Affordability
18.0%
rent-to-income

Detailed Comparison

When comparing Anchorage, AK and Rochester, MN, the overall cost of living indices are 113 and 93 respectively (national median = 100). Rent is $137/month cheaper in Rochester, saving renters about $1,644/year.

Median household income is $10,385/year higher in Anchorage. Home values also differ significantly — the median in Anchorage is $375,900 compared to $287,500 in Rochester.

Alaska has no state income tax, giving Anchorage residents a significant tax advantage over Minnesota's 9.85% rate.

Frequently Asked Questions

Anchorage vs Rochester — common questions

Is Anchorage or Rochester cheaper to live in?
Based on our cost index, Rochester is cheaper to live in with an index of 93 compared to 113 (US average = 100).
What is the rent difference between Anchorage and Rochester?
Median rent in Anchorage is $1,453/month and in Rochester it's $1,316/month — a difference of $137/month.
Which city has higher income, Anchorage or Rochester?
Median household income is $98,152 in Anchorage and $87,767 in Rochester. Median household income is $10,385/year higher in Anchorage.
How do taxes compare between Alaska and Minnesota?
Alaska has 0% income tax, 0% sales tax, and 1.04% property tax. Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax.
Should I move to Anchorage or Rochester?
It depends on your priorities. Anchorage has a cost index of 113 with median rent of $1,453/mo, while Rochester has a cost index of 93 with rent of $1,316/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Anchorage details → View Rochester details →

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