Alaska vs Connecticut: Tax & Cost of Living Comparison
A comprehensive side-by-side comparison of taxes, cost of living, housing, income, and insurance costs between Alaska and Connecticut.
State 1
Alaska
AK
State 2
Connecticut
CT
No Income Tax State
Alaska has no state income tax, which can mean significant savings for residents compared to Connecticut (6.99% top rate).
| Category | Alaska | Connecticut |
|---|---|---|
| Income Tax Rate | No Income TaxBetter | 6.99% |
| Property Tax Rate | 1.04%Better | 1.79% |
| Property Tax (on Median Home) | $3,536/yrBetter | $6,802/yr |
| Sales Tax Rate | No Sales TaxBetter | 6.35% |
| Cost of Living Index | 127 | 115Better |
| Median Home Price | $340,000Better | $380,000 |
| Median Household Income | $77,800 | $83,800Better |
| Avg. Auto Insurance | $1,480/yrBetter | $1,860/yr |
| Avg. Home Insurance | $1,200/yrBetter | $1,650/yr |
Cost of Living Comparison
Index relative to national average (100)
Median Home Price
Alaska
$340,000
Property Tax: $3,536/yr
Connecticut
$380,000
Property Tax: $6,802/yr
Alaska homes are 10.5% cheaper than Connecticut homes.
Median Household Income
Alaska
$77,800
Connecticut
$83,800
Connecticut households earn $6,000 more per year on average.
Insurance Costs
| Type | Alaska | Connecticut | Difference |
|---|---|---|---|
| Auto Insurance | $1,480/yr | $1,860/yr | $380/yr |
| Home Insurance | $1,200/yr | $1,650/yr | $450/yr |
| Total Insurance | $2,680/yr | $3,510/yr | $830/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
Connecticut
64.2
The Bottom Line
Alaska offers lower income tax, lower property tax, lower sales tax, more affordable housing compared to Connecticut. Meanwhile, Connecticut offers lower cost of living, higher median income. Overall, Alaska edges ahead in our weighted financial comparison.
Alaska Advantages
- +Lower income tax
- +Lower property tax
- +Lower sales tax
- +More affordable housing
Connecticut Advantages
- +Lower cost of living
- +Higher median income