Is it cheaper to live in Fairbanks or Idaho Falls?

Idaho Falls, ID is cheaper. Its monthly baseline of $970 (1BR rent + utilities) runs about 28% below Fairbanks, AK's $1,350, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Fairbanks versus $33,000 in Idaho Falls.

Which has lower taxes, Fairbanks or Idaho Falls?

Fairbanks is taxed under Alaska's rules (no state income tax and no state sales tax); Idaho Falls under Idaho's (a top state income tax rate of 5.30% and a 6% state sales tax).

Fairbanks vs Idaho Falls Cost of Living 2026

Fairbanks

Alaska

$1,350/mo est.

Idaho Falls

Idaho

$970/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 $970 in Idaho Falls, ID. Overall, Idaho Falls, ID is roughly 28% cheaper to live in day-to-day than Fairbanks, AK, driven mainly by rent.

Median household income is $72,077 in Fairbanks, AK and $69,630 in Idaho Falls, ID — about 3% higher in Fairbanks, AK. Alaska has no state income tax and no state sales tax; Idaho has a top state income tax rate of 5.30% and a 6% state sales tax.

Fairbanks, AK

Idaho Falls, ID

Rent

Studio

$883

$818

+7% in Fairbanks, AK

1 Bedroom

$1,076

$827

+23% in Fairbanks, AK

2 Bedroom

$1,428

$957

+33% in Fairbanks, AK

3 Bedroom

$2,019

$1,278

+37% in Fairbanks, AK

Buying a Home

Median Home Value

$255,700

$298,600

+17% in Idaho Falls, ID

Income

Median Household Income

$72,077

$69,630

+3% in Fairbanks, AK

Metro Median Wage (annual)

$61,810

$46,800

+24% in Fairbanks, AK

People & Lifestyle

Median Age

28.6 yr

33.5 yr

+4.9 yr in Idaho Falls, ID

Homeownership

40.5%

64.1%

+23.6 pp in Idaho Falls, ID

Bachelor's+ (25+)

26.5%

31.0%

+4.5 pp in Idaho Falls, ID

Avg Commute

14.1 min

18.2 min

+4.1 min in Idaho Falls, ID

Crime (per 100k/yr)

Violent Crime

726.1

365.3

+50% in Fairbanks, AK

Property Crime

3,504.2

1,235.5

+65% 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

44.2°F

+16.5°F in Idaho Falls, ID

Annual Precipitation

10.8 in

10.4 in

+0.4 in in Fairbanks, AK

Gas

Regular Gasoline

$5.21/gal

$4.27/gal

+18% in Fairbanks, AK

Area: West Coast (PADD 5) vs Rocky Mountain (PADD 4).

Utilities

Electricity (¢/kWh)

28.2

14.4

+49% in Fairbanks, AK

Natural Gas ($/MCF)

$17.35

$11.33

+35% in Fairbanks, AK

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

Groceries

Milk (gal)

$4.82

about equal

Bread (lb)

$2.04

about equal

Eggs (doz)

$2.19

about equal

Ground Beef (lb)

$7.36

about equal

Chicken (lb)

$2.01

about equal

Bananas (lb)

$0.70

about equal

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

State Taxes

Sales Tax (AK / ID)

None

+6.0 pp in ID

Income Tax (top rate)

None

5.30%

+5.3 pp in ID

Fairbanks vs Idaho Falls — FAQ

Is it cheaper to live in Fairbanks or Idaho Falls?: Idaho Falls, ID is cheaper. Its monthly baseline of $970 (1BR rent + utilities) runs about 28% below Fairbanks, AK's $1,350, mainly because of rent.
How much more do you need to earn to live in Fairbanks than in Idaho Falls?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Fairbanks versus $33,000 in Idaho Falls.
Which has lower taxes, Fairbanks or Idaho Falls?: Fairbanks is taxed under Alaska's rules (no state income tax and no state sales tax); Idaho Falls under Idaho's (a top state income tax rate of 5.30% and a 6% 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).