Living Cost Compare
Fairbanks

Alaska

$1,350/mo est.

vs
Fort Wayne

Indiana

$980/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,350 in Fairbanks, AK versus $980 in Fort Wayne, IN. Overall, Fort Wayne, IN is roughly 27% cheaper to live in day-to-day than Fairbanks, AK, driven mainly by rent.

Median household income is $72,077 in Fairbanks, AK and $60,293 in Fort Wayne, IN — about 16% higher in Fairbanks, AK. Alaska has no state income tax and no state sales tax; Indiana has a top state income tax rate of 2.95% and a 7% state sales tax.

Fairbanks, AK
Fort Wayne, IN

Rent

Studio
$883
$798
+10% in Fairbanks, AK
1 Bedroom
$1,076
$782
+27% in Fairbanks, AK
2 Bedroom
$1,428
$984
+31% in Fairbanks, AK
3 Bedroom
$2,019
$1,100
+46% in Fairbanks, AK

Buying a Home

Median Home Value
$255,700
$169,700
+34% in Fairbanks, AK

Income

Median Household Income
$72,077
$60,293
+16% in Fairbanks, AK
Metro Median Wage (annual)
$61,810
$47,700
+23% in Fairbanks, AK

People & Lifestyle

Median Age
28.6 yr
35.0 yr
+6.4 yr in Fort Wayne, IN
Homeownership
40.5%
62.2%
+21.7 pp in Fort Wayne, IN
Bachelor's+ (25+)
26.5%
28.5%
+2.0 pp in Fort Wayne, IN
Avg Commute
14.1 min
21.4 min
+7.3 min in Fort Wayne, IN

Crime (per 100k/yr)

Violent Crime
726.1
308.9
+57% in Fairbanks, AK
Property Crime
3,504.2
2,245.4
+36% in Fairbanks, AK

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

Climate

Avg Annual Temperature
27.7°F
50.5°F
+22.8°F in Fort Wayne, IN
Annual Precipitation
10.8 in
38.3 in
+27.5 in in Fort Wayne, IN

Gas

Regular Gasoline
$5.21/gal
$3.85/gal
+26% in Fairbanks, AK

Area: West Coast (PADD 5) vs Midwest (PADD 2).

Utilities

Electricity (¢/kWh)
28.2
17.5
+38% in Fairbanks, AK
Natural Gas ($/MCF)
$17.35
$24.52
+41% in Fort Wayne, IN

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

Groceries

Milk (gal)
$4.82
$4.31
+10% in Fairbanks, AK
Bread (lb)
$2.04
$1.66
+19% in Fairbanks, AK
Eggs (doz)
$2.19
$3.63
+66% in Fort Wayne, IN
Ground Beef (lb)
$7.36
$6.77
+8% in Fairbanks, AK
Chicken (lb)
$2.01
$2.10
+4% in Fort Wayne, IN
Bananas (lb)
$0.70
$0.62
+12% in Fairbanks, AK

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

State Taxes

Sales Tax (AK / IN)
None
7%
+7.0 pp in IN
Income Tax (top rate)
None
2.95%
+3.0 pp in IN

Fairbanks vs Fort Wayne — FAQ

Is it cheaper to live in Fairbanks or Fort Wayne?
Fort Wayne, IN is cheaper. Its monthly baseline of $980 (1BR rent + utilities) runs about 27% below Fairbanks, AK's $1,350, mainly because of rent.
How much more do you need to earn to live in Fairbanks than in Fort Wayne?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Fairbanks versus $31,000 in Fort Wayne.
Which has lower taxes, Fairbanks or Fort Wayne?
Fairbanks is taxed under Alaska's rules (no state income tax and no state sales tax); Fort Wayne under Indiana's (a top state income tax rate of 2.95% and a 7% 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).