Living Cost Compare
Albuquerque

New Mexico

$1,040/mo est.

vs
Fairbanks

Alaska

$1,350/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,040 in Albuquerque, NM versus $1,350 in Fairbanks, AK. Overall, Albuquerque, NM is roughly 23% cheaper to live in day-to-day than Fairbanks, AK, driven mainly by rent.

Median household income is $65,604 in Albuquerque, NM and $72,077 in Fairbanks, AK — about 9% higher in Fairbanks, AK. New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax; Alaska has no state income tax and no state sales tax.

Albuquerque, NM
Fairbanks, AK

Rent

Studio
$797
$883
+11% in Fairbanks, AK
1 Bedroom
$889
$1,076
+21% in Fairbanks, AK
2 Bedroom
$1,140
$1,428
+25% in Fairbanks, AK
3 Bedroom
$1,459
$2,019
+38% in Fairbanks, AK

Buying a Home

Median Home Value
$266,700
$255,700
+4% in Albuquerque, NM

Income

Median Household Income
$65,604
$72,077
+10% in Fairbanks, AK
Metro Median Wage (annual)
$48,060
$61,810
+29% in Fairbanks, AK

People & Lifestyle

Median Age
38.7 yr
28.6 yr
+10.1 yr in Albuquerque, NM
Homeownership
61.5%
40.5%
+21.0 pp in Albuquerque, NM
Bachelor's+ (25+)
38.7%
26.5%
+12.2 pp in Albuquerque, NM
Avg Commute
22.2 min
14.1 min
+8.1 min in Albuquerque, NM

Crime (per 100k/yr)

Violent Crime
1,194.3
726.1
+39% in Albuquerque, NM
Property Crime
4,766.6
3,504.2
+26% in Albuquerque, NM

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature
57.2°F
27.7°F
+29.5°F in Albuquerque, NM
Annual Precipitation
9.4 in
10.8 in
+1.4 in in Fairbanks, AK

Gas

Regular Gasoline
$3.62/gal
$5.21/gal
+44% in Fairbanks, AK

Area: Gulf Coast (PADD 3) vs West Coast (PADD 5).

Public Transit

Base Fare (one-way)
Free
—

Adult base one-way fare — ABQ RIDE vs — (2026).

Utilities

Electricity (¢/kWh)
15.1
28.2
+87% in Fairbanks, AK
Natural Gas ($/MCF)
$9.31
$17.35
+86% in Fairbanks, AK

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

Groceries

Milk (gal)
$4.82
$4.82
about equal
Bread (lb)
$2.04
$2.04
about equal
Eggs (doz)
$2.19
$2.19
about equal
Ground Beef (lb)
$7.36
$7.36
about equal
Chicken (lb)
$2.01
$2.01
about equal
Bananas (lb)
$0.70
$0.70
about equal

Average prices — West vs West (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (NM / AK)
4.875%
None
+4.9 pp in NM
Income Tax (top rate)
5.90%
None
+5.9 pp in NM

Albuquerque vs Fairbanks — FAQ

Is it cheaper to live in Albuquerque or Fairbanks?
Albuquerque, NM is cheaper. Its monthly baseline of $1,040 (1BR rent + utilities) runs about 23% below Fairbanks, AK's $1,350, mainly because of rent.
How much more do you need to earn to live in Albuquerque than in Fairbanks?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $36,000 a year in Albuquerque versus $43,000 in Fairbanks.
Which has lower taxes, Albuquerque or Fairbanks?
Albuquerque is taxed under New Mexico's rules (a top state income tax rate of 5.90% and a 4.875% state sales tax); Fairbanks under Alaska's (no state income tax and no state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).