Is Fairbanks expensive to live in?

Fairbanks is on the pricier side of the 158 US cities we track. Its one-bedroom rent of $1,076 per month ranks #74 of 158 and is about the same as the $1,043 median.

What is the average rent in Fairbanks?

Average rent in Fairbanks, AK runs a studio around $883, a one-bedroom around $1,076, a two-bedroom around $1,428, a three-bedroom around $2,019 per month (US Census ACS).

How much do you need to earn to live in Fairbanks?

To keep a one-bedroom rent of $1,076 near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year. The median household income here is $72,077.

How much does it cost to live in Fairbanks per month?

A rough monthly baseline for one person in Fairbanks is about $1,350 — one-bedroom rent plus typical residential electricity and heating. It excludes food, transport, and healthcare, so a full budget is higher.

Cost of Living in Fairbanks, AK

Population 32,242 · Alaska

~$1,350/mo est.1BR $1,076Home $255,700

Compare with:

The cost of living in Fairbanks, AK is driven mostly by housing. A one-bedroom apartment rents for around $1,076 a month — about the same as the $1,043 median across the 158 large US cities we track. Studios average $883 and two-bedrooms $1,428.

Median household income here is $72,077, 6% higher than the $67,696 median of the cities we track. Adding typical electricity and heating to one-bedroom rent, a rough monthly baseline for one person is about $1,350 before food and transport. Alaska has no state income tax and no state sales tax.

Rent1BR $1,076

Studio

$883

1 Bedroom

$1,076

2 Bedroom

$1,428

3 Bedroom

$2,019

Buying a Home$255,700

Median Home Value

$255,700

Income$72,077

Median Household Income

$72,077

Metro Median Wage (annual)

$61,810

Household income: Census ACS, city. Metro median wage: BLS OEWS, all occupations, 2025 (metro area).

GroceriesWest

Milk (gal)

$4.82

Bread (lb)

$2.04

Eggs (doz)

$2.19

Ground Beef (lb)

$7.36

Chicken (lb)

$2.01

Bananas (lb)

$0.70

Average prices, West (BLS, 2026-07-01). Regional where available, otherwise U.S. average.

Utilities28.2¢/kWh

Electricity

28.2¢/kWh

Natural Gas

$17.35/MCF

Residential, state-level averages (EIA, 2026-06-01). MCF = 1,000 cubic feet.

Gas$5.21/gal

Regular Gasoline (West Coast (PADD 5))

$5.21/gal

EIA weekly retail average, week of 2026-08-31.

State Taxes (AK)No sales tax

State Sales Tax

None

State Income Tax (top rate)

None

State-level rates. Local sales taxes may add more. Income tax shown is the top marginal rate; most filers pay less.

Crime726.1 violent

Violent Crime (per 100k/yr)

726.1

Property Crime (per 100k/yr)

3,504.2

FBI Crime Data Explorer, Fairbanks Police Department (2024). Offenses per 100,000 residents per year. Agency reporting practices vary, so cross-city comparisons are approximate.

People & LifestyleAge 28.6 yrs

Median Age

28.6 yrs

Homeownership

40.5%

Bachelor's+ (25+)

26.5%

Avg Commute

14.1 min

Climate27.7°F

Avg Annual Temperature

27.7°F

Annual Precipitation

10.8 in

Fairbanks cost of living — FAQ

Is Fairbanks expensive to live in?: Fairbanks is on the pricier side of the 158 US cities we track. Its one-bedroom rent of $1,076 per month ranks #74 of 158 and is about the same as the $1,043 median.
What is the average rent in Fairbanks?: Average rent in Fairbanks, AK runs a studio around $883, a one-bedroom around $1,076, a two-bedroom around $1,428, a three-bedroom around $2,019 per month (US Census ACS).
How much do you need to earn to live in Fairbanks?: To keep a one-bedroom rent of $1,076 near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year. The median household income here is $72,077.
How much does it cost to live in Fairbanks per month?: A rough monthly baseline for one person in Fairbanks is about $1,350 — one-bedroom rent plus typical residential electricity and heating. It excludes food, transport, and healthcare, so a full budget is higher.

Compare Fairbanks with nearby cities

Fairbanks vs Anchorage Fairbanks vs Juneau Fairbanks vs Seattle Fairbanks vs Tacoma Fairbanks vs Spokane Fairbanks vs Portland

Nearby cities

Anchorage, AK 259 mi Juneau, AK 626 mi Seattle, WA 1517 mi Tacoma, WA 1536 mi Spokane, WA 1631 mi Portland, OR 1638 mi

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981-2010 (climate); EIA (gas, utilities); BLS Average Price Data (groceries) & OEWS (metro wage); transit agencies (fares); FBI Crime Data Explorer (crime); Tax Foundation 2026 (state taxes). Monthly estimate = 1BR rent + utilities; not a full cost of living.