Is it cheaper to live in Buffalo or Fairbanks?

Buffalo, NY is cheaper. Its monthly baseline of $1,160 (1BR rent + utilities) runs about 14% below Fairbanks, AK's $1,350, mainly because of rent.

How much more do you need to earn to live in Buffalo than in Fairbanks?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $34,000 a year in Buffalo versus $43,000 in Fairbanks.

Which has lower taxes, Buffalo or Fairbanks?

Buffalo is taxed under New York's rules (a top state income tax rate of 10.90% and a 4% state sales tax); Fairbanks under Alaska's (no state income tax and no state sales tax).

Buffalo vs Fairbanks Cost of Living 2026

Buffalo

New York

$1,160/mo est.

Fairbanks

Alaska

$1,350/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,160 in Buffalo, NY versus $1,350 in Fairbanks, AK. Overall, Buffalo, NY is roughly 14% cheaper to live in day-to-day than Fairbanks, AK, driven mainly by rent.

Median household income is $48,050 in Buffalo, NY and $72,077 in Fairbanks, AK — about 33% higher in Fairbanks, AK. New York has a top state income tax rate of 10.90% and a 4% state sales tax; Alaska has no state income tax and no state sales tax.

Buffalo, NY

Fairbanks, AK

Rent

Studio

$812

$883

+9% in Fairbanks, AK

1 Bedroom

$849

$1,076

+27% in Fairbanks, AK

2 Bedroom

$954

$1,428

+50% in Fairbanks, AK

3 Bedroom

$1,080

$2,019

+87% in Fairbanks, AK

Buying a Home

Median Home Value

$152,300

$255,700

+68% in Fairbanks, AK

Income

Median Household Income

$48,050

$72,077

+50% in Fairbanks, AK

Metro Median Wage (annual)

$50,790

$61,810

+22% in Fairbanks, AK

People & Lifestyle

Median Age

34.3 yr

28.6 yr

+5.7 yr in Buffalo, NY

Homeownership

42.7%

40.5%

+2.2 pp in Buffalo, NY

Bachelor's+ (25+)

30.3%

26.5%

+3.8 pp in Buffalo, NY

Avg Commute

19.9 min

14.1 min

+5.8 min in Buffalo, NY

Crime (per 100k/yr)

Violent Crime

770.5

726.1

+6% in Buffalo, NY

Property Crime

4,003.2

3,504.2

+12% in Buffalo, NY

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

Climate

Avg Annual Temperature

48.3°F

27.7°F

+20.6°F in Buffalo, NY

Annual Precipitation

40.5 in

10.8 in

+29.7 in in Buffalo, NY

Gas

Regular Gasoline

$4.13/gal

$5.21/gal

+26% in Fairbanks, AK

Area: New York vs West Coast (PADD 5).

Utilities

Electricity (¢/kWh)

29.5

28.2

+4% in Buffalo, NY

Natural Gas ($/MCF)

$27.01

$17.35

+36% in Buffalo, NY

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

Groceries

Milk (gal)

$4.31

$4.82

+12% in Fairbanks, AK

Bread (lb)

$1.92

$2.04

+6% in Fairbanks, AK

Eggs (doz)

$2.19

about equal

Ground Beef (lb)

$6.90

$7.36

+7% in Fairbanks, AK

Chicken (lb)

$2.19

$2.01

+8% in Buffalo, NY

Bananas (lb)

$0.69

$0.70

about equal

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

State Taxes

Sales Tax (NY / AK)

None

+4.0 pp in NY

Income Tax (top rate)

10.90%

None

+10.9 pp in NY

Buffalo vs Fairbanks — FAQ

Is it cheaper to live in Buffalo or Fairbanks?: Buffalo, NY is cheaper. Its monthly baseline of $1,160 (1BR rent + utilities) runs about 14% below Fairbanks, AK's $1,350, mainly because of rent.
How much more do you need to earn to live in Buffalo than in Fairbanks?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $34,000 a year in Buffalo versus $43,000 in Fairbanks.
Which has lower taxes, Buffalo or Fairbanks?: Buffalo is taxed under New York's rules (a top state income tax rate of 10.90% and a 4% 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).