Cost of Living in Mentasta Lake, AK

With a cost of living index of 62, Mentasta Lake, AK is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 28% below the Alaska state average of 90. Mentasta Lake is a small community of 94 residents.

Housing costs are the biggest factor in Mentasta Lake's cost of living. The median monthly rent is $379 (71% below the US median of $1,319), and the median home value sits at $166,900 (45% below the national median of $304,900). At current prices, the median home costs roughly 6.2x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Mentasta Lake is $26,912, which is 64% lower than the national median of $75,149. Residents spend roughly 17% 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 Mentasta Lake. The area sees an average annual temperature of 24.7°F, with summers averaging 57°F and winters around -9°F. Annual rainfall totals 11.3 inches spread over roughly 94 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.