-The cost of living isn't really an issue. You tend to make more up here than you do in the lower 48.
-The 24/7 sunlight in the summer makes it hard to sleep sometimes.
-The mosquitoes are very annoying
-40 below for a week or 2 at a time can suck.
-Finding what you want at stores is sometimes an issue, unless you live in Anchorage.
But, it's a great place to hunt, fish, raise a family, snow machine, Mnt. Bike, hike, etc.........