In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
A general summary of the cost of living index in Gateway, AK is shown above. Compared to the state average of Alaska the cost of living index in Gateway, AK is 126, which is 3% lower than the average in Alaska and compared to the national average it is 26% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Gateway, AK goods and services come in at 3% higher than the average in Alaska and are 23% higher than compared to the nationwide average.
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Did you know?
The cost of living in Gateway is 3% lower than the Alaska average.
The cost of living in Gateway is 26% higher than the national average.
The cost of housing in Gateway is 40% higher than the national average.
Alaska general sales tax is 100% lower than the national average.
Alaska state income tax is 100% lower than the national average.
Compare Gateway, AK Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator allows you to compare how much your current salary in Gateway, AK would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Gateway, AK, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Gateway, AK salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
The affordability of the housing market in Gateway, AK as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Gateway, AK homeowners, the median income is $110,156. This indicates that a monthly maximum of $2,570 should be spent by homeowners on all housing related costs. Renters have a median income of $43,000. This indicates that renters should have a maximum of $1,003 used for their rent related monthly costs.
Alaska Sales Tax
General Sales Tax
With Max Surtax
Alaska Income Tax
Income Tax (Low)
Income Tax (High)
When considering the overall cost of living expenses in Gateway, AK, it's important to take into account the sales tax for Alaska, as well as the rate for income tax in Alaska. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Alaska is 7%, and the sales tax in the state of Alaska is 0%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Alaska starts from 0% and goes up to 0%.
Goods & Services
Avg. Mortgage Payment
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.