Salary Needed to Live in Anchorage as a Retiree
A retired individual (65+) needs approximately $63,971/year to live comfortably in Anchorage, AK, including 5% savings.
Direct Answer
A retiree needs about $63,971/year to live comfortably in Anchorage, AK. The bare-minimum salary is $59,589/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $3,830.
The minimum scenario leaves about $3,625/mo after tax and no planned savings. The comfortable scenario uses $5,331/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$63,971
with 5% savings
Bare Minimum
$59,589
$4,966/mo gross, no savings buffer
Monthly Expenses
$3,625
1% below national avg
Detailed Monthly Budget for a Retiree in Anchorage
| Expense | Anchorage | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $1,117 | $1,448 | -23% |
| Groceries | $298 | $189 | +58% |
| Utilities | $164 | $183 | -10% |
| Transportation | $240 | $211 | +14% |
| Car Insurance | $159 | $215 | -26% |
| Health Insurance | $669 | $642 | +4% |
| Medicare Supplement | $254 | $200 | +27% |
| Prescription Drugs | $191 | $150 | +27% |
| Internet + Phone | $152 | $120 | +27% |
| Recreation & Social | $254 | $200 | +27% |
| Home Maintenance | $127 | $100 | +27% |
| Total Monthly | $3,625 | $3,658 | -1% |
How We Calculated the Salary
Monthly expenses:$3,625
Target savings (5%):$205/mo
Monthly after-tax needed:$3,830
Effective tax rate:27%
Gross annual salary needed:$63,971
What Drives the Salary Number?
Housing
$1,117
1-2BR Senior-Friendly rent is 31% of this monthly budget.
Taxes
27%
Estimated federal plus AK state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$205/mo is reserved for savings so the salary is not just break-even.
Local index
127/100
Anchorage is close to the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby west Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $1,117/mo or adjust the salary target upward.
- Budget $978/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $59,589/year as the survival floor and $63,971/year as the healthier negotiation target.
Other Household Types in Anchorage
Related Pages
FAQ
What salary does a retiree need in Anchorage?
A retiree needs approximately $63,971/year ($5,331/month gross) to live comfortably in Anchorage with a 5% savings rate.
How much is rent for a retiree in Anchorage?
A 1-2br senior-friendly in Anchorage costs approximately $1,117/month, which is the largest single expense at 31% of the total budget.
Is Anchorage affordable for a retiree?
Anchorage is roughly average for retiree costs, requiring a salary close to the national median.