Cost of Living in Fairbanks North Star Borough, Alaska

$1,424/mo

Median Monthly Rent

$282,500

Median Home Value

17% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,424/mo

17% above state average

Median Home Value

$282,500

0% above national

Rent-to-Income Ratio

29.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Fairbanks North Star Borough Compares

Median monthly rent comparison

Fairbanks North Star Borough$1,424/mo

Alaska Average$1,221/mo

National Median$1,163/mo

Detailed Housing Stats

$1,424/mo

Median Gross Rent

$282,500

Median Home Value

$1,530/mo

Monthly Owner Cost

29.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Fairbanks North Star Borough, Alaska

Fairbanks renters shoulder above-average burden

At 20.2%, Fairbanks' rent-to-income ratio exceeds the national comfort zone, meaning renters here dedicate a larger chunk of their $84,722 median income to housing than most Americans. The median monthly rent of $1,424 is substantially higher than the national norm, reflecting Alaska's remote-region pricing.

Fairbanks ranks among pricier Alaska counties

With a 20.2% rent-to-income ratio, Fairbanks North Star Borough sits above Alaska's 18.6% state average, making it one of the state's pricier housing markets. Only Kodiak Island's exceptional 23.9% ratio exceeds it, underscoring Fairbanks' position as a high-cost interior hub.

Interior Alaska's most expensive option

Fairbanks' $1,424 rent rivals or exceeds most other Alaskan counties, beaten only by Kodiak Island at $1,669 and Juneau at $1,462. Compared to neighboring Dillingham ($1,085) or Haines ($914), Fairbanks renters pay significantly more for comparable regional living.

Renters spend 20.2%, owners pay steep $1,530

Fairbanks renters dedicate a fifth of their $84,722 income to the median $1,424 rent, while homeowners face an even steeper burden at $1,530 monthly. This creates a purchasing paradox: despite higher incomes than the national average, Fairbanks residents pay more for both renting and owning.

Fairbanks offers income but demands housing cost

Relocate to Fairbanks if higher salaries justify elevated housing costs; the $84,722 median income is among Alaska's strongest, but plan for a 20.2% rent burden. Compare against Dillingham (17.5% burden, lower income) to determine whether Fairbanks' wage premium offsets its housing premium.

Affordability Calculator

See how your income compares to housing costs in Fairbanks North Star Borough

Your Annual Household Income

Rent Burden

20.2%

of gross income

Max Housing (28% Rule)

$1,977

per month

Owner Cost Burden

21.7%

of gross income

The median home in Fairbanks North Star Borough may be a stretch

Median home value is $282,500. Estimated monthly cost: $2,255 vs. your max of $1,977.

Rent Affordability Guide

Your rent-to-income ratio20.2%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Fairbanks North Star Borough, Alaska?

Fairbanks North Star Borough, Alaska has a median monthly rent of $1,424/mo and a median home value of $282,500. The affordability rating is Unaffordable, with rent making up approximately 29.0% of median household income.

What is the median rent in Fairbanks North Star Borough?

The median gross rent in Fairbanks North Star Borough is $1,424/mo. This is 17% above state average for Alaska.

Is Fairbanks North Star Borough affordable?

Fairbanks North Star Borough is rated Unaffordable based on rent-to-income ratio of 29.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Fairbanks North Star Borough's rent compare to the state average?

Fairbanks North Star Borough's median rent of $1,424/mo is 17% above state average of $1,221/mo for Alaska.

What is the median home value in Fairbanks North Star Borough?

The median home value in Fairbanks North Star Borough, Alaska is $282,500. This is 0% above the national median home value of $281,900.