Cost of Living in Valdez, AK

With a cost of living index of 107, Valdez, AK is somewhat more expensive than average. Living here is 7% more expensive than the national average and 17% above the Alaska state average of 90. Valdez is a small community of 3,911 residents.

Housing costs are the biggest factor in Valdez's cost of living. The median monthly rent is $1,463 (11% above the US median of $1,319), and the median home value sits at $312,400 (2% above the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Valdez is $97,067, which is 29% higher 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.

Climate is another factor for anyone considering a move to Valdez. The area sees an average annual temperature of 39.7°F, with summers averaging 55°F and winters around 26°F. Annual rainfall totals 67.9 inches spread over roughly 198 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.