Living Cost Compare
Fairbanks

Alaska

$1,350/mo est.

vs
Nashville

Tennessee

$1,500/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 $1,500 in Nashville, TN. Overall, Fairbanks, AK is roughly 10% cheaper to live in day-to-day than Nashville, TN, driven mainly by rent.

Median household income is $72,077 in Fairbanks, AK and $75,197 in Nashville, TN — about 4% higher in Nashville, TN. Alaska has no state income tax and no state sales tax; Tennessee has no state income tax and a 7% state sales tax.

Rent

Studio
$883
$1,341
+52% in Nashville, TN
1 Bedroom
$1,076
$1,336
+24% in Nashville, TN
2 Bedroom
$1,428
$1,478
+4% in Nashville, TN
3 Bedroom
$2,019
$1,832
+9% in Fairbanks, AK

Buying a Home

Median Home Value
$255,700
$383,100
+50% in Nashville, TN

Income

Median Household Income
$72,077
$75,197
+4% in Nashville, TN
Metro Median Wage (annual)
$61,810
$50,390
+18% in Fairbanks, AK

People & Lifestyle

Median Age
28.6 yr
34.4 yr
+5.8 yr in Nashville, TN
Homeownership
40.5%
53.0%
+12.5 pp in Nashville, TN
Bachelor's+ (25+)
26.5%
46.9%
+20.4 pp in Nashville, TN
Avg Commute
14.1 min
24.9 min
+10.8 min in Nashville, TN

Crime (per 100k/yr)

Violent Crime
726.1
1,178.7
+62% in Nashville, TN
Property Crime
3,504.2
4,558.5
+30% in Nashville, TN

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
59.4°F
+31.7°F in Nashville, TN
Annual Precipitation
10.8 in
47.3 in
+36.4 in in Nashville, TN

Gas

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

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

Public Transit

Base Fare (one-way)
$2.00

Adult base one-way fare — vs WeGo Public Transit (2026).

Utilities

Electricity (¢/kWh)
28.2
14.1
+50% in Fairbanks, AK
Natural Gas ($/MCF)
$17.35
$19.75
+14% in Nashville, TN

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

Groceries

Milk (gal)
$4.82
$4.00
+17% in Fairbanks, AK
Bread (lb)
$2.04
$1.75
+14% in Fairbanks, AK
Eggs (doz)
$2.19
$2.21
+1% in Nashville, TN
Ground Beef (lb)
$7.36
$6.45
+12% in Fairbanks, AK
Chicken (lb)
$2.01
$1.90
+6% in Fairbanks, AK
Bananas (lb)
$0.70
$0.62
+12% in Fairbanks, AK

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

State Taxes

Sales Tax (AK / TN)
None
7%
+7.0 pp in TN
Income Tax (top rate)
None
None
about equal

Fairbanks vs Nashville — FAQ

Is it cheaper to live in Fairbanks or Nashville?
Fairbanks, AK is cheaper. Its monthly baseline of $1,350 (1BR rent + utilities) runs about 10% below Nashville, TN's $1,500, mainly because of rent.
How much more do you need to earn to live in Fairbanks than in Nashville?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Fairbanks versus $53,000 in Nashville.
Which has lower taxes, Fairbanks or Nashville?
Fairbanks is taxed under Alaska's rules (no state income tax and no state sales tax); Nashville under Tennessee's (no state income tax 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).