6 Wallet-Friendly Small Towns To Retire In Alaska
Alaska is a land of glaciers, volcanoes, and ice fields. It is one of the few "wild" places left in the United States. An estimated 2.7 million out-of-state visitors traveled to "The Land of the Midnight Sun" between May and September of last year to see once-in-a-lifetime sights like the Aurora Borealis and mighty Kodiak grizzly bears. But Alaska is not just good for sight-hungry visitors. Retirees are settling there, too. Alaska’s population of people over 65 more than doubled between 2010 and 2024. The median sale price for homes in Alaska is $401,800, according to Realtor.com. For those considering retirement, finding an affordable place to live is a priority. Here are six of the best places in Alaska that have home prices below the state median.
Fairbanks
Fairbanks is Alaska’s vibrant interior hub, striking a balance between natural wonder and everyday conveniences. Retirees can unwind at the Chena Hot Springs, visit the University of Alaska Museum of the North, or spend all day birdwatching from Creamer’s Field. The city offers a range of solid medical facilities, local arts events, and numerous activities throughout the year. One of these activities is the Midnight Sun Festival, a 12-hour street festival that brings downtown Fairbanks to life.
Summer in Fairbanks brings endless daylight for hiking and gardening, while winter delivers crisp air and cozy community gatherings in the shadow of long nights. Fairbanks offers a rewarding way to experience Alaska’s heartland, thanks to its friendly atmosphere and budget-friendly living. The median home sale price in Fairbanks is $282,500.
Ketchikan
Life in Ketchikan moves to the rhythm of the tides. Retirees can stroll along Creek Street’s boardwalks, browse local art galleries, or take a short trip to Misty Fjords National Monument to see waterfalls and forested cliffs. The town’s storied Alaska Native heritage is celebrated at the Totem Heritage Center, offering a meaningful connection to local history through its regular exhibits of artifacts.
Ketchikan’s compact downtown and walkable neighborhoods make daily errands simple. Its lively harbor and creative culture keep things interesting for retirees who enjoy both relaxation and staying engaged in local life. The median home listing price in Ketchikan is $395,000.
Kenai
Kenai sits along the Cook Inlet, where salmon fishing, beach walks, and wildlife viewing are part of everyday life. Retirees can explore the Kenai National Wildlife Refuge, visit the Kenai Visitors and Cultural Center for regional history, or enjoy summer events at the city’s scenic bluff park.
The town combines affordability with a strong sense of practicality, as nearby Soldotna offers additional shops, restaurants, and medical care. Kenai provides a comfortable and fulfilling setting for those seeking an active retirement, with its vast natural habitats waiting to be explored and appreciated. The median home sale price in Kenai is $396,700.
Ninilchik
Ninilchik is a quiet fishing village known for its peaceful surroundings and welcoming residents. The town is an angler's paradise, as the salmon runs provide some of the most spectacular fishing anywhere. Retirees often spend mornings clamming or halibut fishing along Cook Inlet, then stop by the historic Holy Transfiguration of Our Lord Chapel that overlooks the water.
The annual Salmonfest features live music and food each summer, making it one of the area’s most significant gatherings. For those who enjoy outdoor adventure, Kachemak Bay State Park is nearby, offering hiking and wildlife viewing opportunities. Ninilchik’s slower pace and affordability make it an appealing destination for retirees who value the freedom and beauty of coastal living. The median home listing price in Ninilchik is $290,000.
Salcha
Salcha is a quiet community of fewer than 1,100 residents, located approximately 30 miles southeast of Fairbanks along the Richardson Highway. The town offers a down-to-earth lifestyle surrounded by forests, rivers, and mountains. Residents spend time fishing or boating on the Tanana River, hiking and camping at Harding Lake State Recreation Area, and watching the Northern Lights in winter.
The Salchaket Roadhouse is a well-known stop for good food and local conversation. Salcha's modest home prices and population size attract people who value open space, outdoor living, and the slower rhythm of interior Alaska. The median home price of Salcha is $290,000.
North Pole
North Pole offers a lighthearted setting with practical advantages. Beyond the famous Santa Claus House and holiday decorations, retirees can enjoy outdoor recreation on the Chena River or explore Pioneer Park and museums in nearby Fairbanks, like the Fountainhead Antique Auto Museum. The town’s affordability and small population create an easygoing environment where neighbors quickly become friends. There are numerous medical facilities in town, ensuring easy access to healthcare.
The North Pole is not just a place for Santa and his elves to call home; it is a good spot for retirees who enjoy a cheerful atmosphere and access to both quiet surroundings and modern city conveniences. The median home sale price for North Pole is $354,300.
Riding the Alaskan Railroad. Hiking through acres of undeveloped land and unwinding in a natural hot spring. Retiring in Alaska offers experiences one will not find anywhere else. Retirement comes with rewards of more time for rest, recreation, or whatever suits one’s passions. One could say retirement is an invitation to explore. And though Alaska makes a persuasive case as a retirement destination with its overall affordability, plentiful outdoor activities, and cultural connections, perhaps its most enticing feature is its spirit of exploration. It’s time to uncharted a new frontier, in the untamed way only Alaska can.
