Cost of Living in Seward, AK

With a cost of living index of 94, Seward, AK is slightly more affordable than average. Living here is 6% cheaper than the national average and 4% above the Alaska state average of 90. Seward is a small community of 2,735 residents.

Housing costs are the biggest factor in Seward's cost of living. The median monthly rent is $1,109 (16% below the US median of $1,319), and the median home value sits at $290,300 (5% below the national median of $304,900). At current prices, the median home costs roughly 4.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Seward is $71,016, which is 5% lower than the national median of $75,149. Residents spend roughly 19% 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 Seward. The area sees an average annual temperature of 40.4°F, with summers averaging 55°F and winters around 28°F. Annual rainfall totals 69.7 inches spread over roughly 171 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.