Cost of Living in Diamond Ridge, AK

With a cost of living index of 108, Diamond Ridge, AK is somewhat more expensive than average. Living here is 8% more expensive than the national average and 18% above the Alaska state average of 90. Diamond Ridge is a small community of 1,338 residents.

Housing costs are the biggest factor in Diamond Ridge's cost of living. The median monthly rent is $1,500 (14% above the US median of $1,319), and the median home value sits at $312,200 (2% above the national median of $304,900). At current prices, the median home costs roughly 3.9x the median household income — a moderately affordable ratio by today's standards.

The median household income in Diamond Ridge is $80,417, which is 7% higher than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Diamond Ridge. The area sees an average annual temperature of 40°F, with summers averaging 54°F and winters around 27°F. Annual rainfall totals 23.9 inches spread over roughly 156 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.