Living in Fairbanks, Alaska
Cost of living, income, home prices, rent and demographics of Fairbanks · Census data 2020–2024
Fairbanks has 32,083 residents with a median age of 29. The median household income is $73,534 (21% lower than the Alaska median), the median home value is $268,400, the median rent is $1,496/month.
Fairbanks at a glance
- Population
- 32,083
- Median age
- 29State: 35.8
- Median household income
- $73,534State: $92,788
- Median home value
- $268,400State: $352,900
- Median rent
- $1,496/moState: $1,419
- Homeowners
- 39.8%
- Bachelor's degree or higher
- 26.2%
- Average commute
- 15 min
Is Fairbanks a good place to live?
Pros: Home values 24% lower than the state median; an average commute of 15 minutes; unemployment of 5.7%; a poverty rate of 8.7%.
Cons: Median household income 21% lower than the Alaska median.
The weather is best in May to August.
Cost of living in Fairbanks
Housing is the biggest part of the cost of living. In Fairbanks the median home value is $268,400, 19% lower than the U.S. median. Renters pay a median of $1,496 per month, which is 30.1% of household income. Homeowners with a mortgage pay $2,197 a month in housing costs.
Fairbanks median household income
The median household income in Fairbanks is $73,534 and the income per person is $36,912. 8.7% of residents live below the poverty line (Alaska: 10.1%).
Housing in Fairbanks: homes for sale and rent
- Housing units
- 13,793
- Owner-occupied
- 39.8%
- Renter-occupied
- 60.2%
- Vacant
- 12.5%Includes seasonal homes
- Median year built
- 1979
- Average household size
- 2.43
Fairbanks demographics
- Population
- 32,083
- Median age
- 29
- Under 18
- 24.6%
- 65 and older
- 11.9%
- Households
- 12,071
- Foreign-born
- 7.5%
- Veterans
- 11.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Fairbanks ›
Education in Fairbanks
26.2% of adults 25 and older in Fairbanks have a bachelor's degree or higher (Alaska: 31.7%), and 8.1% have a graduate or professional degree.
Jobs and commute in Fairbanks
- Unemployment rate
- 5.7%State: 5.9%
- Average commute
- 15 minState: 19 min
- Work from home
- 5.3%
- Drive alone
- 65.7%
- Public transit
- 1.1%
- Walk to work
- 9.2%
- Homes with broadband
- 88.3%
Fairbanks vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Fairbanks | 32,083 | $73,534 | $268,400 | $1,496 |
| South Van Horn | 572 | $73,214 | $41,500 | — |
| Farmers Loop | 4,954 | $109,950 | $279,800 | $1,406 |
| College | 11,924 | $83,895 | $297,500 | $1,454 |
| Badger | 18,677 | $97,183 | $310,600 | $1,629 |
| Steele Creek | 5,928 | $121,364 | $348,400 | $1,223 |
| North Pole | 2,370 | $92,273 | $289,400 | $1,304 |
| Chena Ridge | 5,881 | $133,775 | $395,500 | $1,110 |
| Ester | 2,752 | $53,272 | $255,400 | $1,208 |
More for people moving to Fairbanks
Fairbanks ZIP code ›Weather and climate ›Living in Fairbanks: FAQ
What is the median household income in Fairbanks, AK?
The median household income in Fairbanks is $73,534, 21% lower than the Alaska median of $92,788 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Fairbanks?
The median home value in Fairbanks is $268,400, compared with $352,900 in Alaska.
How much is rent in Fairbanks?
The median gross rent in Fairbanks is $1,496 per month, about 30.1% of household income.
Is Fairbanks, AK a good place to live?
Pluses: home values 24% lower than the state median; an average commute of 15 minutes; unemployment of 5.7%; a poverty rate of 8.7%. Minuses: median household income 21% lower than the Alaska median.
What is the median age in Fairbanks?
The median age in Fairbanks is 29 years (Alaska: 35.8).
How long is the commute in Fairbanks?
The average commute to work in Fairbanks is 15 minutes; 5.3% of workers work from home.
What is the unemployment rate in Fairbanks?
The unemployment rate in Fairbanks is 5.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Fairbanks?
26.2% of adults in Fairbanks have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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