You should look into Eagle River, Birchwood, and Palmer. I have no idea what is "affordable" for a military salary but I live in Anchorage. There are a lot of Military people who live in those towns I mentioned, because it is quite a bit cheaper than Anchorage, and VERY close to the bases. The areas that are close to base in Anchorage are Mountain View, and Muldoon. Mountain View is our "ghetto", and Muldoon is hit and miss with nice homes mixed in with old trailer homes etc. If you do want to live in Anchorage, South Anchorage is the "nice side", with lots of options for prices for homes and many good school choices.... Just has a longer drive to base, which in rush hour could be 40-45 minutes each way.
Here is a good website for looking up info about schools.
http://www.greatschools.org/
Real Estate, both for sale and some rentals
http://www.alaskarealestate.com/
Just some facts about Anchorage
http://www.muni.org/FastFacts/Pages/Default.aspx
Alright, good luck!
Feel free to message me if you think of any questions I can answer!