How Much Do You Get Paid to Live in Alaska | Best Answers

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Discovering that Alaska pays its residents will leave you wondering how much people get paid to live in Alaska.

Living and qualifying for the Alaska Permanent Fund means you’ll earn about $2,000 annually.

While the concept of free money may seem appealing, you must realize that you must meet certain criteria to be eligible for the incentive.

Therefore, it is essential to know what the funds entail if you consider moving to Alaska.

In light of this, this article seeks to enlighten you about all you need to know about the Alaska permanent fund, eligibility grounds, and more.

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About the State of Alaska

Also known as the last frontier, the land of the midnight sun, Alaska turns out to be the largest state in the U.S.

From all indications, Alaska is also about three times as big as France and the least densely populated US state.

Located in the extreme northwest of the North American continent, Alaska was seized in 1867 by the United States.

This state also comes to mind at the mention of tourist destinations in the world at large.

However, every year, Alaska is struck by about 5,000 earthquakes. Despite this disaster, the state is rich with beautiful and interesting places that you will love.

On the flip side, because living in Alaska is expensive, you will need to consider your income because the cost of living there is high.

Do You Get Paid to Live in Alaska in 2022?

Absolutely! As unrealistic as it sounds, people get paid to live in Alaska. Little wonder, people keep surfing the internet with questions like, “How much do you get paid to live in Alaska.”

The funds people receive just for living in the state of Alaska are possible because of the Alaska Permanent fund.

According to the official website, the fund gives each resident a yearly payout equal to a portion of the state’s oil royalties.

This is one reason most people itch to relocate to Alaska – the treasury!

Hence, if you reside in Alaska and desire to be on the payroll, you need to go through the cash registration process between January and March yearly.

Contrary to what most people think, this money solely covers student loan repayment, travel, and medical emergencies.

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How much Do You Get Paid to Live in Alaska?

Now to the crux of the matter, those residing in Alaska pay its residents around $2,000 annually.

Additionally, the Alaska Permanent Fund receives between $500 and $2,000 annually from the Alaska Department of Revenue.

Alaska is one of the few states in the United States that offers its citizens financial incentives.

Most people often wonder why some states pay their citizens. You’ll be shocked to realize that Alaska has this initiative running because it is in need of people.

Hence, in order to persuade you to move to Alaska, the state government provides a lot of incentives and tax benefits.

Why Do You Get Paid to Live in Alaska?

To help residents deal with the high cost of living, Alaska’s government pays its resident.

When compared to other states in the US, the cost of living in Alaska is often relatively expensive.

Is Living in Alaska Expensive?

Yes. If there’s one vital piece of information you should bear in mind, it is the fact that living in the state of Alaska would require a lot financially.

A couple of reasons result in the high cost of living in the state of Alaska.

The reasons for this hike in the living cost are not far-fetched. They include:

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1. Utility

In Alaska, utility costs is frequently high, particularly during the winter. Even if certain towns and cities differ from one another, these differences are insignificant.

2. Rent

The cost of rent is usually the first indicator of a high cost of living in a state or city. However, the area determines the cost of the rent.

According to reports, renting an apartment in one of the biggest cities, like Anchorage, will cost about $1216 a month.

On the other hand, it costs $837 a month to rent a property in a tiny town like Kenai.

On this note, the area plays a vital role in determining just how many holes it would drill into your pocket.

3. Cost of Feeding

If this isn’t one of the essential factors that give away the pricey nature of a state, what other indicator do you need?

Since food is essential to man, the inability to purchase it at affordable rates in a certain area can make it difficult for residents.

In Alaska, people who live in rural areas often spend more on food than people who live in urban areas.

This is due to the high expense of transporting food to rural regions, which is then passed on to the final customers.

Additionally, the state’s environment makes it difficult to cultivate the majority of foods locally.

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4. Transportation

Transportation is another additional expense that is location-based. Therefore, transportation will cost a lot of money if you don’t have a personal vehicle in Alaska.

In addition, gas is way expensive in this state. Furthermore, there is a severe lack of public transit in Alaska, even in Anchorage, the biggest and most diverse city in Alaska,

How Often Do You Get Paid to Live in Alaska?

The state of Alaska makes an annual payment to its citizens as long as they qualify for the funds.

Therefore, you’re in for a shock if you are looking forward to a monthly or quarterly payment.

How Do You Become Eligible for Payments?

Qualifying for eligibility for the Alaska Permanent Fund isn’t much of a hassle.

To qualify, you need to reside in Alaska for a whole year before you can apply for the fund.

On the flip side, you would have to consider your stay permanent when during the application process.

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What Factors Can Disqualify You From Receiving this Fund?

While qualifying for this incentive can be a no-brainer, certain factors can disqualify you from being on the receiving end of this scheme;

A conviction or a jail term can automatically disqualify you from accessing this incentive.

Similarly, if you are convicted of specified crimes within the qualifying calendar year, you may no longer qualify to receive the Permanent Fund Dividend.

How Can You Apply for Free Money For Alaska Residents?

To begin, you must fill out the Alaska temporary assistance program application.

After completing the application, you must contact your local public assistance district office to set up an interview.

Don’t fail to show up with the completed application form for the interview if you get contacted.

However, you should note that this scheme is purely for low-income residents who have basic needs.

Qualifying for this scheme implies that you must be a citizen of the U.S, be a qualified immigrant, and be a resident of Alaska.

In another development, you must fall within any of the following categories before you can access this fund:

  • Unemployed
  • Pregnant
  • 18 years
  • Low-income earner

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What Other States in the U.S Can Pay You to Live There?

Other than Alaska, there are other few states that pay residents. They include:

  • Kansas
  • Iowa
  • Oklahoma
  • Vermont
  • Maryland
  • Ohio
  • Minnesota

If you are considering a possible relocation that pays residents, you can consider any of the aforementioned states in the United States.

FAQs

Can I move to Alaska without a job?

If you have unlimited funds, having a stable job in place before moving to Alaska is a must.

How do Alaskans make money?

The major economic sector in Alaska is the oil and gas sector. Oil money accounts for around 85% of the state budget.

The success of Alaska’s oil industry, and therefore, many economic sectors, depends on global oil prices.

What is the highest paying job in Alaska?

General surgeons, with an annual salary of $336,900 annually.

Is the crime rate in Alaska high?

Alaska has the greatest violent crime rate and the 13th highest property crime rate in the United States.

Do you have to pay taxes in Alaska?

One of the nine states without an income tax in Alaska. It simply implies that employers would not withhold state or local taxes from Alaska residents’ compensation.

Conclusion

If you are one of those with the intent of moving to Alaska and partaking in the treasury, you need to ensure you are eligible.

In addition, although the cost of living in Alaska is pretty high, remember that this incentive seeks to lighten the financial load on Alaska residents.

References

  • cnbc.com – Vermont, Alaska and 6 other places in the US that will pay you to live there

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