Cost of Living,
Fairbanks's Real Estate Market
Fairbanks Metro Area
Profile: Frontier town Location: East-central Alaska, north of the Alaska Range Elevation: 418 Time zone: Alaska Standard Time
|Attractive setting||Bitter winters|
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Fairbanks, a low, sprawling frontier town along the Chena River, supports a huge land area. As a crossroads of major highways and the northern terminus of the Alaska Railroad, Fairbanks plays a significant role as a transportation center and commerce headquarters for most of the northern half of the state. Additionally, the area serves as a military, education and health center for the region; the University of Alaska-Fairbanks is a large employer. Mining, forest products, the Alaska Pipeline, and tourism drive the economy and recent job growth has been fairly healthy.
Due to its isolation and the obvious effects of climate, the area not surprisingly has a strong sense of community, but there isn’t a lot of outside stimulus or entertainment. The downtown area is clean and mostly modern. As with all of Alaska, cost of living is high. The summer climate and nearby recreation are exceptional, but winters are equally extraordinary with depressing darkness and below-zero temperatures almost daily.
Fairbanks is located in the Tanana Valley and experiences a distinctly Continental climate with extreme temperature variations most of the year. Because of its location just 200 miles south of the Arctic Circle, summer days are 18-21 hours long and solar heating can produce pleasant 80 degree readings. Unbelievably for the latitude, the record high was 99 degrees, recorded in July 1919. Winter daylight, however, ranges from 4 to 10 hours per day, with prevalent below-zero temperatures, reaching -40 degrees or lower each winter. Winter temperatures, in fact, can range from +45 degrees to -65 degrees, with summer temperatures ranging from +30 degrees to +90 degrees.
Snow cover persists from October to April, although cold air and mountain protection limits days with heavy snows to a minimum, and blizzards are seldom seen. Cold air trapped in the valley produces occasional ice fog. Occasional summer showers and thunderstorms, especially in nearby mountains, round out the precipitation picture.
Interesting Facts about Fairbanks, Alaska
As of 2014, Fairbanks's population is 31,656 people. Since 2000, it has had a population growth of 5.73 percent.--------------------
The median home cost in Fairbanks is $238,400. Home appreciation the last year has been 2.00 percent.--------------------
Compared to the rest of the country, Fairbanks's cost of living is 33.20% Higher than the U.S. average.--------------------
Fairbanks public schools spend $16,465 per student. The average school expenditure in the U.S. is $12,435. There are about 50.2 students per teacher in Fairbanks.--------------------
The unemployment rate in Fairbanks is 5.50 percent(U.S. avg. is 6.30%). Recent job growth is Positive. Fairbanks jobs have Increased by 1.09 percent.
Ranked #31 Emerging Metropolitan Areas
Ranked #85 Best Green Cities
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Average Commute time is 14 minutes. The National Average is 25 minutes.--------------------
Fairbanks's Real Estate Market (click to see properties)
• Newly Listed Homes
• Most Expensive Listing
• Million Dollar Houses
• Homes from $750,001 to $1,000,000
• Homes from $500,001 to $750,000
• Homes from $250,000 to $500,000
• Homes under $250,000
• Median Priced Homes
Fairbanks General SperlingViews
re: Think Twice! - 5/17/2010: Sandy should have left years ago,,,,,I've been here avery long time since the mid eighties,,,,the winters are now starting to get to me
but hay I'm 63 now and its been... (read more)re: Interested in Fairbanks - 5/27/2011: Well, what was the outcome? Did you move to Fairbanks? We too are thinking of moving there, the comments below are very interesting. Scarry, since I have 2 teens and... (read more)Interested in Fairbanks: Comments about Fairbanks, both positive and negative, are of interest to me. Was in Fairbanks this past March [and north on Cleary Summit] and fell in love with the... (read more)Have an opinion about Fairbanks? Leave a commentTo See All SperlingViews for Fairbanks Click Here