Looking for a new home? If you’re thinking about moving, did you know there are some states that will pay you to live there?
Is correct! Some areas of the United States have special programs to attract new residents. Some of these programs offer you free or discounted real estate, and one state, Alaska, even pays its residents to live there.
One of the largest states in the United States, Alaska has no shortage of natural beauty. The state is full of beautiful sights, majestic mountains and snow-capped plains. This state is also rich in natural resources, especially oil, which generates regular payments for the state’s residents.
Most relevantly, Alaska is one of the states that offer annual financial perks to their residents. But how much do you get for living in Alaska?
In this article, we cover how much you can get paid to live in Alaska if you qualify and how it works.
Do you get paid to live in Alaska?
Since 1982, the government has distributed state oil levies to citizens to help with the cost of living in Alaska.
The Alaska Permanent Fund arose following this decision to allocate funds and routinely opens applications for citizens to apply.
Since 1982, the government has paid over $21 billion to the people of Alaska. If you’re considering moving, here’s what you should know to qualify.
How much do you get paid to live in Alaska?
In 2022, Alaska paid its residents $5,500, but the amount paid to each citizen varies from year to year and depends on the level of royalties on the state’s oil sales.
According to the Alaska Department of Revenue, amounts paid range from a minimum of $331 to a maximum of $5,500. Recently, the payout per citizen has been around $1500 per year, and the payment amount for 2022 is $5,500.
Children and adults receive the same amount.
How do you become eligible for payments?
Wondering how to become eligible to receive these free Alaska resident payments? Here is a list of the 2023 requirements provided by the Alaska Department of Revenue:
Applicant must be a resident of Alaska for the full calendar year. The applicant must intend to become an Alaska resident indefinitely. Applicants must not have been convicted or imprisoned for a felony in the prior year or imprisoned for a misdemeanor in Alaska leaving)
For more information, see the eligibility page on the State of Alaska website.
To qualify for payments, you must demonstrate your intention to live in Alaska. Provide this evidence in a variety of ways. Eligible documents include proof of a home purchase or lease, an Alaskan driver’s license, payment of boat dock fees, and more.
Reasons to live in Alaska
Aside from the yearly allocation of funds to citizens, Alaska offers several other benefits to prospective residents. Let’s examine a few reasons why you might want to get paid to live in Alaska!
1. Affordable Real Estate
Alaska has very affordable real estate compared to other states. According to Zillow, the average home value is around $338,000. With a rise of just 10.5% since last year, this can be an attractive option compared to homes in many other states.
2. No income or sales tax
Alaska is one of the few states in America that does not have a sales tax or state income tax. A local sales tax may apply in some areas. Alaska has property taxes that are slightly higher than the national average. However, there are some exceptions that you can request to receive support.
3. Natural beauty
The Alaskan environment is second to none when it comes to natural beauty. Alaska is a popular tourist attraction, which makes it interesting for entrepreneurs who want to thrive in the tourism industry.
With numerous national parks and monuments and the potential for many outdoor activities and experiences, it can be a spectacular place to live for outdoor enthusiasts.
4. Rich history
Alaska is rich in cultural history dating back thousands of years. History buffs can enjoy the various events that have transpired in this snowy state, from Japanese invasions to the state’s origins.
Fun fact: Alaska originally belonged to the USSR, and the US bought it for $7.2 million, which is about two cents an acre!
How to apply for free money for Alaska residents
Prospective citizens can apply for these free payments by completing a paper or online application during the application period, which runs from January 1 to March 31.
There is no minimum or maximum age. Each applicant must complete the application. Parents can fill out the applications for minor children. For example, a married couple with two children must fill out 4 individual applications.
Retain proof of application by printing out the confirmation page, or a receipt if submitting the application in person.
Contact person for further information
Interested in how you get paid for living in Alaska? For more information, contact the Alaska Department of Revenue or visit pfd.alaska.gov.
TL;DR: Getting paid to live in Alaska
The Alaska Permanent Citizen program provides state residents with annual payments to qualify. While there are some criteria to qualify, including residency qualifications and a clean criminal record, this program can provide free money annually if you qualify. Learn more about the Alaska Permanent Fund and see if you qualify.
Are you interested in studying after moving? Learn 5 ways to get paid to go to school.
Kim Ritter is an economical living expert, blogger, and mother of two from small town Iowa. What started as an attempt to help her family save a few dollars a month has now grown into a full-time obsession with helping other parents with money. Visit her online at twokidsandacoupon.com and follow her on Twitter at @2kidsandacoupon for more ways your family can have fun on a budget.