Is it cheaper to live in Fairbanks or Provo?

Provo, UT is cheaper. Its monthly baseline of $1,120 (1BR rent + utilities) runs about 17% below Fairbanks, AK's $1,350, mainly because of electricity costs.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Fairbanks versus $39,000 in Provo.

Which has lower taxes, Fairbanks or Provo?

Fairbanks is taxed under Alaska's rules (no state income tax and no state sales tax); Provo under Utah's (a top state income tax rate of 4.50% and a 6.1% state sales tax).

Fairbanks vs Provo Cost of Living 2026

Fairbanks

Alaska

$1,350/mo est.

Provo

Utah

$1,120/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 $1,120 in Provo, UT. Overall, Provo, UT is roughly 17% cheaper to live in day-to-day than Fairbanks, AK, driven mainly by electricity costs.

Median household income is $72,077 in Fairbanks, AK and $62,800 in Provo, UT — about 13% higher in Fairbanks, AK. Alaska has no state income tax and no state sales tax; Utah has a top state income tax rate of 4.50% and a 6.1% state sales tax.

Fairbanks, AK

Provo, UT

Rent

Studio

$883

$1,009

+14% in Provo, UT

1 Bedroom

$1,076

$978

+9% in Fairbanks, AK

2 Bedroom

$1,428

$1,128

+21% in Fairbanks, AK

3 Bedroom

$2,019

$1,381

+32% in Fairbanks, AK

Buying a Home

Median Home Value

$255,700

$437,100

+71% in Provo, UT

Income

Median Household Income

$72,077

$62,800

+13% in Fairbanks, AK

Metro Median Wage (annual)

$61,810

$48,010

+22% in Fairbanks, AK

People & Lifestyle

Median Age

28.6 yr

23.7 yr

+4.9 yr in Fairbanks, AK

Homeownership

40.5%

39.9%

+0.6 pp in Fairbanks, AK

Bachelor's+ (25+)

26.5%

45.0%

+18.5 pp in Provo, UT

Avg Commute

14.1 min

18.5 min

+4.4 min in Provo, UT

Crime (per 100k/yr)

Violent Crime

726.1

205.7

+72% in Fairbanks, AK

Property Crime

3,504.2

1,280.6

+63% 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

53.4°F

+25.7°F in Provo, UT

Annual Precipitation

10.8 in

19.8 in

+8.9 in in Provo, UT

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

13.4

+53% in Fairbanks, AK

Natural Gas ($/MCF)

$17.35

$11.84

+32% 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 / UT)

None

6.1%

+6.1 pp in UT

Income Tax (top rate)

None

4.50%

+4.5 pp in UT

Fairbanks vs Provo — FAQ

Is it cheaper to live in Fairbanks or Provo?: Provo, UT is cheaper. Its monthly baseline of $1,120 (1BR rent + utilities) runs about 17% below Fairbanks, AK's $1,350, mainly because of electricity costs.
How much more do you need to earn to live in Fairbanks than in Provo?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Fairbanks versus $39,000 in Provo.
Which has lower taxes, Fairbanks or Provo?: Fairbanks is taxed under Alaska's rules (no state income tax and no state sales tax); Provo under Utah's (a top state income tax rate of 4.50% and a 6.1% 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).