Cost of Living in Gustavus, AK

With a cost of living index of 93, Gustavus, AK is slightly more affordable than average. Living here is 7% cheaper than the national average and 3% above the Alaska state average of 90. Gustavus is a small community of 610 residents.

Housing costs are the biggest factor in Gustavus's cost of living. The median monthly rent is $1,106 (16% below the US median of $1,319), and the median home value sits at $276,500 (9% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Gustavus is $64,167, which is 15% lower than the national median of $75,149. Residents spend roughly 21% 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 Gustavus. The area sees an average annual temperature of 40.7°F, with summers averaging 54°F and winters around 29°F. Annual rainfall totals 58.7 inches spread over roughly 0 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.