Cost of Living in Thorne Bay, AK

With a cost of living index of 84, Thorne Bay, AK is a very affordable place to live. Living here is 16% cheaper than the national average and 6% below the Alaska state average of 90. Thorne Bay is a small community of 475 residents.

Housing costs are the biggest factor in Thorne Bay's cost of living. The median monthly rent is $934 (29% below the US median of $1,319), and the median home value sits at $234,600 (23% below the national median of $304,900). At current prices, the median home costs roughly 3.8x the median household income — a moderately affordable ratio by today's standards.

The median household income in Thorne Bay is $61,750, which is 18% lower than the national median of $75,149. Residents spend roughly 18% 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 Thorne Bay. The area sees an average annual temperature of 45.2°F, with summers averaging 56°F and winters around 36°F. Annual rainfall totals 89.2 inches spread over roughly 244 days.

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.