Living Cost Compare
Fairbanks

Alaska

$1,350/mo est.

vs
Las Cruces

New Mexico

$940/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 $940 in Las Cruces, NM. Overall, Las Cruces, NM is roughly 30% cheaper to live in day-to-day than Fairbanks, AK, driven mainly by rent.

Median household income is $72,077 in Fairbanks, AK and $55,176 in Las Cruces, NM — about 23% higher in Fairbanks, AK. Alaska has no state income tax and no state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Fairbanks, AK
Las Cruces, NM

Rent

Studio
$883
$597
+32% in Fairbanks, AK
1 Bedroom
$1,076
$793
+26% in Fairbanks, AK
2 Bedroom
$1,428
$888
+38% in Fairbanks, AK
3 Bedroom
$2,019
$1,177
+42% in Fairbanks, AK

Buying a Home

Median Home Value
$255,700
$217,400
+15% in Fairbanks, AK

Income

Median Household Income
$72,077
$55,176
+23% in Fairbanks, AK
Metro Median Wage (annual)
$61,810
$42,070
+32% in Fairbanks, AK

People & Lifestyle

Median Age
28.6 yr
32.7 yr
+4.1 yr in Las Cruces, NM
Homeownership
40.5%
55.6%
+15.1 pp in Las Cruces, NM
Bachelor's+ (25+)
26.5%
37.3%
+10.8 pp in Las Cruces, NM
Avg Commute
14.1 min
18.7 min
+4.6 min in Las Cruces, NM

Crime (per 100k/yr)

Violent Crime
726.1
726
+0% in Fairbanks, AK
Property Crime
3,504.2
4,899.2
+40% in Las Cruces, NM

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
58.8°F
+31.1°F in Las Cruces, NM
Annual Precipitation
10.8 in
—

Gas

Regular Gasoline
$5.21/gal
$3.62/gal
+31% in Fairbanks, AK

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

Utilities

Electricity (¢/kWh)
28.2
15.1
+47% in Fairbanks, AK
Natural Gas ($/MCF)
$17.35
$9.31
+46% 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 (AK / NM)
None
4.875%
+4.9 pp in NM
Income Tax (top rate)
None
5.90%
+5.9 pp in NM

Fairbanks vs Las Cruces — FAQ

Is it cheaper to live in Fairbanks or Las Cruces?
Las Cruces, NM is cheaper. Its monthly baseline of $940 (1BR rent + utilities) runs about 30% below Fairbanks, AK's $1,350, mainly because of rent.
How much more do you need to earn to live in Fairbanks than in Las Cruces?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Fairbanks versus $32,000 in Las Cruces.
Which has lower taxes, Fairbanks or Las Cruces?
Fairbanks is taxed under Alaska's rules (no state income tax and no state sales tax); Las Cruces under New Mexico's (a top state income tax rate of 5.90% and a 4.875% 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).