Fairbanks, AK, US
Interior Alaska's largest city, known for northern lights, gold rush history, and extreme winters.
Overview
Fairbanks is a city in AK with a population of 32,000. Interior Alaska’s largest city, known for northern lights, gold rush history, and extreme winters. Housing is notably more expensive than the national average. The overall cost of living is above the national average. Gardening thrives here — the 3b growing zone supports Cold — cold-hardy vegetables, some perennials. The population skews young, with a median age of 28.6.
Last updated: September 12, 2026
Very High vs US Avg (100)
Above Average
Household income
Job market health
Fairbanks vs US Average
Taxes
- State Income Tax: None
- Sales Tax: 0.0%
Economy & Jobs
- Median Income: $65,000
- Unemployment: 4.5%
- Population: 32,000
Climate
- Sunny Days: 160/year
- Summer High: 73°F
- Winter Low: -15°F
- Farming Zone: USDA Zone 3b
Housing
- Median Home: $280,000
- 1BR Rent: $1200/mo
Cost of Living
Fairbanks's cost of living index is 130 (US average = 100).
| Category | Fairbanks | National Average | Difference |
|---|---|---|---|
| Overall | 130 | 100 | +30.0% |
| Housing | 140 | 100 | +40.0% |
Data source: Council for Community and Economic Research (C2ER), 2026
Housing Market
| Metric | Value |
|---|---|
| Median Home Price | $280,000 |
| Median Rent (1BR) | $1200/mo |
| Median Rent (2BR) | $1,500/mo |
| Price per Sq Ft | $186 |
Data source: Zillow Research, 2026
True Cost of Home Ownership
Utilities
Estimated monthly utility costs for a typical household in Fairbanks:
| Utility | Estimated Monthly Cost | Notes |
|---|---|---|
| Electricity | $200 | Based on ~900 kWh/month typical US household usage |
| Heating & Cooling | $197 | Estimated based on local climate. Gas or electric |
| Cooling (AC) | N/A | Estimated based on local climate and electricity rates |
| Water | $85 | Includes sewer |
| Internet (100+ Mbps) | $95 | Broadband average |
| Garbage / Trash | $35 | Private service |
| Total Utilities | $612 | Monthly estimate (including heating & cooling) |
Data sources: U.S. Energy Information Administration (EIA) 2024, EPA/AWWA water rate surveys, BroadbandNow
Remote Work Score
Fairbanks scores —/100 for remote work readiness:
Climate
Fairbanks has a varied climate with distinct seasons.
| Month | Avg High | Avg Low | Rainfall |
|---|---|---|---|
| January | 5°F | -15°F | 2.5" |
| April | 58°F | 0°F | 2.8" |
| July | 73°F | 48°F | 1.5" |
| October | 53°F | 3°F | 2.2" |
Cold — cold-hardy vegetables, some perennials
Natural Hazards
Fairbanks faces the following natural hazards:
One of the most seismically active regions in the world.
Extreme cold and blizzards.
Frequent wildfire seasons.
Mountainous region with landslides.
Mountainous region with frequent avalanches.
River and coastal flooding.
Based on historical records and geographic risk assessment.
Taxes
- State Income Tax: 0% (None)
- Sales Tax: 0%
- Property Tax: ~1.23% of assessed value
Economy & Jobs
Major industries include technology, healthcare, education, and manufacturing. The unemployment rate is 4.5%.
Schools & Education
Data source: National Center for Education Statistics (NCES)
Universities & Higher Education
Data source: Center for World University Rankings (CWUR) & World Universities Database
Demographics
The population of Fairbanks is diverse. The figures below show the ethnic, educational, and religious composition of the local population.
Ethnicity
Education
Religion
Data source: US Census Bureau American Community Survey (ACS) (2023)
Important Disclaimer: All data on this page is for informational purposes only and does not constitute financial, legal, tax, or real estate advice. URCity and Northshore Press are not financial advisors, tax professionals, or real estate agents. Always consult qualified professionals before making relocation or financial decisions.
Frequently Asked Questions
What is the cost of living in Fairbanks, AK, US?
The cost of living index in Fairbanks is 130, which is Higher the US national average of 100.
How much does it cost to buy a home in Fairbanks?
The median home price in Fairbanks is $280,000. The housing index is 140.
What is the average rent for a 1-bedroom apartment?
The average rent for a 1-bedroom apartment in Fairbanks is approximately $1200/mo.
Does Fairbanks, AK have income tax?
Fairbanks is in AK, which has no income tax.
What is the climate like in Fairbanks?
Fairbanks enjoys approximately 160 sunny days per year. Summer highs reach around 73°F, while winter lows can drop to around -15°F.
Data Sources
- Cost of Living: Council for Community and Economic Research (C2ER), 2026
- Housing Data: Zillow Research, 2026
- Income & Employment: US Census Bureau American Community Survey, 2024
- Utilities U.S. Energy Information Administration (EIA) 2024, EPA/AWWA water rate surveys, BroadbandNow
Data last updated: September 13, 2026. Data may not reflect current market conditions. Always verify with local sources before making relocation decisions.