Alaska vs Colorado: Tax & Cost of Living Comparison
A comprehensive side-by-side comparison of taxes, cost of living, housing, income, and insurance costs between Alaska and Colorado.
State 1
Alaska
AK
State 2
Colorado
CO
No Income Tax State
Alaska has no state income tax, which can mean significant savings for residents compared to Colorado (4.40% top rate).
| Category | Alaska | Colorado |
|---|---|---|
| Income Tax Rate | No Income TaxBetter | 4.40% |
| Property Tax Rate | 1.04% | 0.49%Better |
| Property Tax (on Median Home) | $3,536/yr | $2,573/yrBetter |
| Sales Tax Rate | No Sales TaxBetter | 2.90% |
| Cost of Living Index | 127 | 105Better |
| Median Home Price | $340,000Better | $525,000 |
| Median Household Income | $77,800 | $82,250Better |
| Avg. Auto Insurance | $1,480/yrBetter | $2,100/yr |
| Avg. Home Insurance | $1,200/yrBetter | $2,600/yr |
Cost of Living Comparison
Index relative to national average (100)
Median Home Price
Alaska
$340,000
Property Tax: $3,536/yr
Colorado
$525,000
Property Tax: $2,573/yr
Alaska homes are 35.2% cheaper than Colorado homes.
Median Household Income
Alaska
$77,800
Colorado
$82,250
Colorado households earn $4,450 more per year on average.
Insurance Costs
| Type | Alaska | Colorado | Difference |
|---|---|---|---|
| Auto Insurance | $1,480/yr | $2,100/yr | $620/yr |
| Home Insurance | $1,200/yr | $2,600/yr | $1,400/yr |
| Total Insurance | $2,680/yr | $4,700/yr | $2,020/yr |
Overall Financial Comparison
Weighted score combining income tax, property tax, sales tax, cost of living, housing, insurance, and income. A lower score indicates better overall financial affordability.
Alaska
-27.1
More Affordable
Colorado
33.5
The Bottom Line
Alaska offers lower income tax, lower sales tax, more affordable housing compared to Colorado. Meanwhile, Colorado offers lower property tax, lower cost of living, higher median income. Overall, Alaska edges ahead in our weighted financial comparison.
Alaska Advantages
- +Lower income tax
- +Lower sales tax
- +More affordable housing
Colorado Advantages
- +Lower property tax
- +Lower cost of living
- +Higher median income