Cost of Living: Milwaukee, WI vs Anchorage, AK (2026)

Milwaukee

Wisconsin
67
VS

Anchorage

Alaska
113

Milwaukee is 41% cheaper than Anchorage.

$1,033/mo ↓ 29%
Median Rent
$1,453/mo ↑ 41%
$51,888/yr ↓ 47%
Median Income
$98,152/yr ↑ 89%
$172,000 ↓ 54%
Home Value
$375,900 ↑ 119%
$1,082/mo ↓ 36%
Owner Costs
$1,698/mo ↑ 57%
569,756
Population
289,069

Tax Comparison

7.65%
Income Tax
0%
5.0%
State Sales Tax
0%
1.61%
Property Tax
1.04%

Affordability

23.9%
rent-to-income
Affordability
17.8%
rent-to-income

Detailed Comparison

When comparing Milwaukee, WI and Anchorage, AK, the overall cost of living indices are 67 and 113 respectively (national median = 100). Rent is $420/month cheaper in Milwaukee, saving renters about $5,040/year.

Median household income is $46,264/year higher in Anchorage. Home values also differ significantly — the median in Milwaukee is $172,000 compared to $375,900 in Anchorage.

Alaska has no state income tax, giving Anchorage residents a significant tax advantage over Wisconsin's 7.65% rate.

Frequently Asked Questions

Milwaukee vs Anchorage — common questions

Is Milwaukee or Anchorage cheaper to live in?
Based on our cost index, Milwaukee is cheaper to live in with an index of 67 compared to 113 (US average = 100).
What is the rent difference between Milwaukee and Anchorage?
Median rent in Milwaukee is $1,033/month and in Anchorage it's $1,453/month — a difference of $420/month.
Which city has higher income, Milwaukee or Anchorage?
Median household income is $51,888 in Milwaukee and $98,152 in Anchorage. Median household income is $46,264/year higher in Anchorage.
How do taxes compare between Wisconsin and Alaska?
Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax. Alaska has 0% income tax, 0% sales tax, and 1.04% property tax.
Should I move to Milwaukee or Anchorage?
It depends on your priorities. Milwaukee has a cost index of 67 with median rent of $1,033/mo, while Anchorage has a cost index of 113 with rent of $1,453/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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