Housing in Fairbanks, AK is much more affordable than the national housing median value of $338,100. The median value in Fairbanks is currently listed at $275,600, which is approximately 18% lower than the US median. Despite this, the one-year appreciation rate for houses in Fairbanks is only 1.58%, which is significantly lower than the national average of 8.27%. This may indicate that while house prices in Fairbanks are lower than the national average, they are not increasing as quickly as other markets across the country.
The median home cost in Fairbanks is $275,600. Home appreciation the last 10 years has been 43.5%. Home Appreciation in Fairbanks is up 8.2%.
Average Age of Homes
- The median age of Fairbanks real estate is 40 years old
The Rental Market in Fairbanks
- Renters make up 55.4% of the Fairbanks population
- 6.0% of houses and apartments in Fairbanks, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.