Cost of Living in Minto, AK

With a cost of living index of 66, Minto, AK is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 24% below the Alaska state average of 90. Minto is a small community of 190 residents.

Housing costs are the biggest factor in Minto's cost of living. The median monthly rent is $875 (34% below the US median of $1,319), and the median home value sits at $32,600 (89% below the national median of $304,900). At current prices, the median home costs roughly 0.5x the median household income — well within traditional affordability guidelines.

The median household income in Minto is $62,917, which is 16% 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 Minto. The area sees an average annual temperature of 30.1°F, with summers averaging 60°F and winters around 0°F. Annual rainfall totals 12.4 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.