Cost of Living in Craig, AK

With a cost of living index of 91, Craig, AK is slightly more affordable than average. Living here is 9% cheaper than the national average and in line with the Alaska state average. Craig is a small community of 1,063 residents.

Housing costs are the biggest factor in Craig's cost of living. The median monthly rent is $1,142 (13% below the US median of $1,319), and the median home value sits at $244,400 (20% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Craig is $67,788, which is 10% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Craig. The area sees an average annual temperature of 45.2°F, with summers averaging 56°F and winters around 36°F. Annual rainfall totals 89.2 inches spread over roughly 244 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.