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.
The above illustration supplies generalized information for the Sterling, AK cost of living index. Compared to other cities in Alaska and cities across the country, the cost of living index in Sterling, AK is 126, which is 3% lower than the Alaska average and 26% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Sterling, AK are 3% higher than the average for Alaska and 23% higher than the rest of the country.
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Did you know?
The cost of living in Sterling is 3% lower than the Alaska average.
The cost of living in Sterling is 26% higher than the national average.
The cost of housing in Sterling 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 Sterling, 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 is used in order to provide a comparison of your current salary in Sterling, AK to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Sterling, AK, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Sterling, AK salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Sterling, AK, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Sterling, AK, the median monthly income is $80,313 for those who own their own homes. Under the standard rule, that income level would allow for $1,874 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $27,500, per the median income in the area. That would allow for renters to spend up to $642 on monthly rental expenses.
Alaska Sales Tax
General Sales Tax
With Max Surtax
Alaska Income Tax
Income Tax (Low)
Income Tax (High)
For those who live in Sterling, AK and want to know what the true cost of living is, they ought to look at both the Alaska income tax rate and the Alaska sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Alaska, the sales tax is 0%, while the most you'll pay in surtax is 7%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Alaska, the income tax rate ranges between 0% 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.