10 Alaska Cities Where You Can Live on Nothing but Social Security

If your retirement budget is restricted to your Social Security benefits or roughly $1,976 per month on average, you may think of Alaska as an out-of-reach dream destination. Still, as long as you steer clear of expensive locations like Anchorage or Juneau, this modest monthly check can easily let you enjoy the rugged beauty of lesser-known cities in the Last Frontier.

To stretch your retirement dollars further, check out one of these 10 Alaskan cities that offer peace, nature, and an affordable lifestyle, even on a tight budget.

Median home price: $460,000

Median rent: $1,269

Moving to Alaska is synonymous with living close to nature, and there's no better place to experience the Great Outdoors than Sitka. Its milder climate and location in the mountains of Southeast Alaska ensure there will be no shortage of outdoor activities that healthy seniors can enjoy.

While home prices are on the higher end in Sitka, renting is surprisingly affordable. Pair this with low property crime, and you have a must-see destination for your retirement.

Median home price: $300,000

Median rent: $942

Wrangell is a safe, beautiful, and affordable Alaskan city that promises seniors a comfortable, semi-rural life. This town's quaint, history-rich look is a throwback to its fishing and logging past.

It's the best spot in Alaska to fish for your favorite seafood, in addition to trying out one of the world-class restaurants nestled in the old, charming wooden buildings all over downtown.

Median home price: $398,908

Median rent: $1,316

Living in Palmer will give you access to the beautiful shoreline of the Alaska coast. Located in the Anchorage Metro Area, this town has big-city amenities and an incredible natural setting.

More importantly, its housing costs are affordable, unlike in Anchorage proper. Pick Palmer as your new home to take advantage of its excellent health care facilities and public transportation.

Median home price: $396,508

Median rent: $1,316

Wasilla is another affordable city in the Anchorage Metro Area. It's an ideal spot for seniors who want to discover more about their new home in places like the Iditarod Museum, where Alaska's history shines in a beautiful coastal setting.

While winters in Wasilla can be harsh, the city makes up for it with its amenities and festivals like the Annual Winter Carnival, which lifts the mood during the dark, cold season.

Median home price: $340,000

Median rent: $1,073

Kenai doesn't just offer seniors the opportunity to save on housing costs. It also has transportation costs that are 21.9% lower than the national average, making it an affordable city in which to establish roots during retirement.

While Kenai summers are milder than elsewhere in Alaska, so are winters, making outdoor pursuits like wildlife spotting, hiking, and fishing a treat year-round. During breaks from outdoor fun, residents can participate in various festivals that this city holds every season.

Median home price: $344,649

Median rent: $1,073

Soldotna is another gem nestled in the Kenai Peninsula. It sits on the Kenai River and is surrounded by several parks and trails. You'll be spoiled for outdoor choices in this small, tight-knit community.

While groceries are more expensive in Soldotna than in the contiguous U.S., the same can be said about Alaska overall. However, the city's affordable housing costs make up for it.

Median home price: $415,000

Median rent: $1,500

This small town has a population of 5,000. Because of its small size, retirees can support local businesses and entertainment, and give back to the economy that sustains them.

Homer has its own airport and ferry service, making it easy to stay connected to larger communities. It's a paradise for seniors who enjoy camping during summer and catching their own delicious seafood.

Median home price: $197,000

Median rent: $1,500

Delta Junction makes it easy to stretch your budget with below-average housing, health care, and cost of living expenses, and low property crime.

Want another incentive?

Delta is close to both North Pole and Fairbanks, making it easy to enjoy the holiday spirit of the former and access the big-city amenities of the latter year-round.

Median home price: $246,200

Median rent: $1,160

This tiny fishing village is true to its humble beginnings, yet also gives you a taste of what big cities can offer in terms of health care, shopping, and entertainment.

Craig is a haven for seniors who want to spend some time exploring pristine, untouched nature in areas like the Kootznoowoo Wilderness. It also offers low housing costs and peace of mind as one of the safest small towns in the state.

Median home price: $268,900

Median rent: $1,170

In addition to affordable housing costs, this small city on the Kenai Peninsula welcomes retirees with low property crime and a cost of living that is 12.8% lower than the Alaska average.

Kalifornsky has a small-town vibe, yet offers seniors a city lifestyle with all the amenities they may expect. Its natural setting is picturesque, so avid hikers and fishing enthusiasts won't find themselves running out of things to do for fun.

Living in a small community like Kenai, Palmer, or Craig is a great way to make retirement affordable and lower your financial stress during your golden years.

To stretch your budget further, check if you qualify for subsidized housing and Alaska-specific senior benefits that may reduce the impact of heating and grocery costs.