Cost of Living in Fairbanks North Star Borough, Alaska
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Fairbanks North Star Borough Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Fairbanks North Star Borough ranks #2,878 of 3,142 counties for affordability (bottom 8%)
Sourced county brief
Median Monthly Owner Costs Reach $1,526 in Fairbanks North Star Borough
Median selected monthly owner costs reached $1,526, a value that is $528 above the Alaska unweighted county mean of $998. The median gross rent was $1,459 per month, which is higher than the state unweighted county mean of $1,248. The official ACS B25071 median gross rent as a percentage of household income (GRAPI) was 28.5%, while the state unweighted county mean was 23.0%. Median home value in the borough was estimated at $298,200, which is above the unweighted state mean of $283,493. The median income for renter households was $64,047. These figures represent a snapshot from the American Community Survey 2020-2024 5-year estimates. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Fairbanks North Star Borough
Affordability Verdict
ACS B25071 estimates median gross rent at 28.5% of renter household income in Fairbanks North Star Borough, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,459 per month; median selected monthly owner costs are $1,526. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $58,360 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Alaska unweighted mean of county median rents is $1,248 per month. Fairbanks North Star Borough's $1,459 median is 16.9% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Fairbanks North Star Borough
Rent Burden
19.8%
of gross income
Max Housing (28% Rule)
$2,060
per month
Owner Cost Burden
20.7%
of gross income
The median home in Fairbanks North Star Borough may be a stretch
Median home value is $298,200. Estimated monthly cost: $2,381 vs. your max of $2,060.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Fairbanks North Star Borough, Alaska?
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How does Fairbanks North Star Borough's rent compare to the state average?
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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